Investments

Dubai-based truck aggregator TruKKer raises $2.7 million in pre-Series A funding

TruKKer, a Dubai-based truck aggregator that claims to be the first and largest tech enabled trucking network in the Middle East has raised $2.7 million in a pre-Series A round, the startup announced today. The round was closed during the summer earlier this year and was led by Oman’s OTF Jasoor Ventures, and joined by Abu-Dhabi based Shorooq Investments. Previous investors including Riyad Taqnia Fund, 500 Startups, Raed VC and Arzan VC also participated in the investment.

The startup had raised $1.4 million in seed funding only nine months ago, this round takes it total funding to $4.1 million. They plan to use the investment to further strengthen its operations in the region, product development and expansion of its team.

The funds will be used to strengthen operations in the region , product development and further adding to an ace team.

Founded by Gaurav Biswas and Pradeep Mallavarapu , TruKKer had started its operations from UAE in late 2016 but has since expanded all over GCC and Jordan. They provide different types of services to both individuals and companies, helping them move their homes, commercial spaces, offices, and large items from one place to another. TruKKer also allows users to rent the trucks by day or trip. But thier most interesting offering perhaps is the cross-border transportation that could be used to transport goods between countries in its network.

Apart from online booking and standard rates, customers also have an option of real-time tracking of the shipment through TruKKer’s platform.

Gaurav Biswas, TruKKer’s co-founder and CEO commenting on the occasion, said, “We are excited to welcome our friends from OTF and Shorooq to join our exciting venture and grateful to the ongoing faith by existing investors. TruKKer will be using the funds to create solid physical infrastructure on our most common routes that facilitate reliable and efficient cargo movements, benefiting our clients and drivers.”

“Our initiatives and business strategies are built around creating fundamental value to the ecosystem by use of advanced technology and investing in tech implementation at all levels,” he added.

Pradeep Mallavarapu , TruKKer’s co-founder and CTO noted, “It is important to have technology penetration at the lowest levels to address chronic industry challenges of empty returns, documentation issues, multiparty coordination, real time tracking and multi system integration. We are generating a lot of data that will support our algorithms for predictive demand and supply planning. This will further improve asset utilizations and efficiencies.”

Ismail Al Harthy, Managing Director at OTF Jasoor Ventures that led the round, said, “We believe TruKKer would play a vital role towards organizing the region’s fragmented trucking industry. Now is the right time for technology to transform the traditional trucking industry which relies solely on brokers connecting truckers to vendors.”

Featured image via Equity.Media

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