Dubai-based truck aggragtor Trukkin has raised $3.5 million in its recent funding round, the startup announced today, saying that the investment came from Al-Namlah Family Group, the Al-Madi Family Group, and the Abanumay Family Group. The investment comes less than a year after Trukkin announced raising an undisclosed amount of investment in its Pre-Series A from Batik, a Saudi public company with interests in logistics and security.
Founded in 2017 by Janardan Dalmia and Ahmed Ibrahim Alnafie, Trukkin is a marketplace and multi-lingual web/mobile-based platform that connects connect shippers and truckers in the Middle East to help them with their logistics needs mainly heavy cargo or long-haul trucking.
The shippers can receive instant quotes by submitting their load details on Trukkin’s web or mobile apps. Shippers after confirming the booking have the option to track their shipments in real-time through the app or updates via SMS and email. They also receive confirmation and proof of delivery documents through email and then are required to pay for the shipment by cash, cheque or bank transfer.
In its own words, “Trukkin through its apps and online marketplace brings together shippers who need more transparency and easier access to trucks with truckers who need better access to demand and higher fleet utilization.”
The startup that currently has offices in UAE & Saudi operates throughout the GCC and beyond. According to company’s statement, Trukkin has shipped to over 200 locations in the Middle East.
“In Saudi Arabia alone, Trukkin has completed over 10,000 long-haul, business-to-business truck movements. That is a significant accomplishment given that the country represents nearly 50% of the overall GCC market opportunity,” the company noted in a statement.
According to its website, Trukkin has transported over 15,000 shipments weighing 400,000 tons of goods for more than 50 clients using its 3,000 drivers. The startup serves a wide range of customers, with their client base ranging from businesses who order close to 100 trucks a day to ones with smaller needs who order as few as three trucks a month.
Janardan Dalmia, Founder and CEO of Trukkin, commenting on the occasion, said, “Trukkin is building up its marketplace to connect thousands of mostly independent truckers. The long-haul land transport market is highly fragmented and disorganized, and our aim is to institutionalize and professionalize this business. Our focus on overall service lets us improve both the customer and transporter experience and also increase asset utilization and reduce inefficiencies.”
Mohamed Al-Namlah, Managing Director of Amnest Group, explaining their decision to invest in Trukkin, said, “Trukkin’s vision, operational efficiency, capital utilization, and sound business model drove us to partner with them in the region over other competitors. Trukkin knows the pulse on the ground.”
Trukker, another similar region startup, also headquartered in Dubai, is apparently in talks with IFC to raise $3 million as part of its Series A.