After the introduction and massive success of Uber and Careem in the region for the common man, we saw many other startups following a similar business model.
Furthermore, the massive hit that hampered the progress of the logistic sector at large during the Covid-19 pandemic-driven lockdowns and movement restrictions, including the shortages of shipping containers and freight delays have led start-ups such as Trukker to disrupt the space with digital solutions.
The UAE-based TruKKer, provides an Uber-like digital network for lorries and pick-up trucks in the Mena region.
What is TruKKer?
TruKKer is a Digital Freight Network that integrates Demand & Supply for land freight services. The network is built on real-time data analytics that creates reliability, transparency, and utilization-based savings for Shippers and thousands of transporters.
The network’s rapid growth and scale are creating multiple opportunities through data monetization and consolidated procurement. In addition to this, the startup has become the region’s first technology-enabled truck aggregator with 11,000 percent growth achieved in its first two years.
The company services 150+ businesses every day and 500+ retail clients daily for their cargo movement requirements including line haul, port movements, home relocations and last mile. Through its platform, TruKKer has onboarded 12,000+ drivers and trucks and employs an average of 180-210 drivers and trucks daily to service its demand.
Background of Founders
Gaurav is an alumnus of CEPT university Ahmedabad, India, where he completed his Bachelor’s in Construction Technology.
He started his career as a Project Manager at a UK-based company, Arup. After spending a good few years there, he joined UAE-based AECOM as a director. In 2016, he launched TruKKer alongside his co-founder and colleague.
Pradeep is an alumnus of the University of Madras. He kicked off his professional journey as a Software Engineer at the Ahmedabad-based, Zydas Cadila. After that, he joined Spectrum Business Solutions as a Manager Projects. Over the course of the next few years, he served at a number of local firms. In 2015, he joined TruKKer as a co-founder.
TruKKer aims to organize the fragmented on-road logistics landscape using a digital freight platform that thrives on transparency, reliability, and exceptional business availability.
TruKKer provides its clients with advanced technology solutions that offer automated order bookings, real-time price discovery, real-time status updates, track and trace, reduced counter party risk, and more. Its cloud-based freight solutions offer end-to-end coverage and a full-service portfolio for shippers, carriers, and businesses alike.
The company’s real-time data and analytics, power its predictive algorithms to determine supply information in real-time and up to 48 hours in the future to allow immediate demand fulfillment and advance bookings. The startup currently enjoys 30%+ lower operating expenses as compared to traditional and large logistics and road freight businesses.
Series C-Finding: Raised $100 million
The investment round was led by Bahrain-based asset manager Investcorp, with participation from other investors including:
- Saudi Arabia-based Riyad Valley Capital
- Egypt’s Reliance Group
- Iraq-based conglomerate March Holding
- Abu Dhabi wealth fund Mubadala Investment Co.
The latest financing comes after the company undertook a series of technology upgrades, expansions, and growth across its home markets in the Middle East and new ones in Turkey and Central Asian nations.
The newly raised funds would be used to expand into new and existing markets to accelerate growth before its planned float, TruKKer said in a statement.
The startup believes that its drive to improve the lives of thousands of truck drivers; who are delivering daily in one of the most difficult professions in the world, will keep it on the path of continuous innovation and ahead of competition from traditional players.