The logistics and supply chain start-up Trukkin has secured 26 million Saudi riyals ($7 million) in its Series A round led by Saudi-based Emkan Capital with the participation from Impact46 Seed Fund, Taya Group and other strategic investors.
Trukkin is an aggregation platform that enables logistics for the shippers and transporters.
It was founded in 2017 in Saudi Arabia and the UAE by former Barclays banker Janardan Dalmia, who said he saw enormous growth potential in the logistics industry in the Middle East and Pakistan region, with the size of the market topping $50 billion.
Since their launch in Pakistan, Trukkin has continued to invest in technology and expand its services to newer markets while deepening their presence further in Saudi Arabia and the United Arab Emirates.
“Currently, local fragmented players dominate the market in the region, and we are working to be an enabler that brings this fragmented market together on an integrated, world-class platform to showcase collective growth,” Dalmia said.
(Writing by Brinda Darasha; editing by Daniel Luiz)
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© ZAWYA 2021