PHOTO
The logistics and supply chain startup Trukkin has secured an investment round of 26 Million SAR for it’s Series A round. The round was led by Saudi based Emkan Capital with the participation from Impact46 Seed Fund, Taya Group and other strategic investors.
Founded in 2017 by former Barclays banker Janardan Dalmia, Trukkin is a leading aggregator that digitizes the process of matching shippers with truckers to bring about transparency, reliability and efficiency to the logistics industry. Trukkin also works towards building fintech solutions for payments, insurance, and financial services. These solutions lay the groundwork for more financial inclusion for the unbanked and increase much needed transparency and efficiency for suppliers.
“I’m very proud of the team and the growth we’ve achieved over the course of the last year as we expanded into Pakistan and grew revenues despite the difficult environment presented by COVID. We are excited to close the round with strategic investors like Emkan Capital and Impact46, it confirms our vision of creating a world-class regional aggregation platform to enable logistics for the shippers and transporters.” Commented Janardan Dalmia, Founder and CEO of Trukkin.
Since their highly successful 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.
Ghassan Aloshban, GP at Emkan Capital, said: “Trukkin has exhibited incredibly efficient use of capital and we’re very impressed with what they’ve been able to achieve in such a short time frame. It’s core team with over 200+ years of combined industry experience have showcased their expertise in not only navigating but driving growth during the pandemic. We look forward to supporting Trukkin, in serving hundreds of corporate clients and individual shippers as they aggressively look for expansion and growth in reach, capability and business volume”.
“Trukkin management team has shown its unique ability to build businesses across multiple geographies in 3 years while retaining the strong culture of the company. We are confident in their ability to build, manage, and scale the business” Added Impact46 Team
“We see enormous growth potential in the logistics industry in the MENAP (Middle East and Pakistan) region, the size of the market is considerable at over US$50 billion. 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”. Janardan Dalmia commented on the platform's future plans.
Trukkin has grown 3x since the onset of the pandemic and scaled into Pakistan midyear in 2020 becoming the first mover and the leading logistics platform in Pakistan while growing its business in the UAE and KSA and serving 12 countries in the broader Middle Eastern region.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
