KeepTruckin raises $190 million to invest in AI products, double R&D team to 700

25 June 2021

KeepTruckin, a hardware and software developer that assists trucking fleets in managing vehicle, cargo, and driver safety, announced today that it has raised $190 million...

Trukkin, a Dubai-based transportation platform, announced today that it has raised $7 million in a Series A round headed by Saudi Arabia's Emkan Capital. Additionally, Impact 46, Taya Group, and other'strategic investors' participated in the financing. Previously, the business raised $3.5 million in May 2019. Trukkin, founded in 2017 by Janardan Dalmia, connects shippers and truckers (individuals and businesses) in 12 countries in the Middle East and North Africa, with offices in the United Arab Emirates, Saudi Arabia, and Pakistan. According to its website, the startup's network includes over 2,000 carriers and 10,000 drivers who have collectively moved more than 50,000 goods. It claims to have tripled in size since the pandemic began. The company, which began in the United Arab Emirates and Saudi Arabia, extended to Pakistan in August 2020, becoming the country's first regional transport marketplace. Trella has since spread into Pakistan, with at least a half-dozen local players opening comparable marketplaces. Trukkin added that the company is also developing fintech solutions for payments, insurance, and financial services to benefit their carriers and drivers. Janardan Dalmia, founder and CEO of Trukkin, stated that the company is focusing on digitising payments for truck drivers so that they may receive payments instantly and simply, without having to deal with cash. In a statement announcing the investment, he stated, "I'm extremely proud of the team and the growth we've achieved over the last year as we expanded into Pakistan and increased revenue despite Covid's difficult environment." We are thrilled to finish the deal with significant investors such as Emkan Capital and Impact46, as it validates our objective of building a world-class regional aggregation platform that enables logistics for shippers and transporters.” “We believe the logistics industry in the MENAP region has enormous growth potential; the market is sizable at more than $50 billion. At the moment, local fragmented competitors dominate the industry in the region, and we are trying to be an enabler that brings this fragmented market together on a unified, world-class platform to demonstrate collective growth,” added Janardan. “Trukkin has demonstrated an incredibly efficient use of capital, and we are extremely impressed with what they have accomplished in such a short period of time,” said Ghassan Aloshban, General Partner at Emkan Capital. Its core staff, which has a combined experience of over 200 years in the industry, has demonstrated their skill in not just managing but also driving growth throughout the epidemic. We look forwards to assisting Trukkin in serving hundreds of corporate clients and individual shippers as they aggressively seek reach, capabilities, and company volume expansion and growth.” According to Abdulrahman Al-Modaimeegh, Managing Partner at Impact46, "looking at Saudi Arabia's geographic location reveals a high volume of local and regional logistics movement, reflecting a fragmented sector that continues to operate in a traditional manner and lacks innovative/digital solutions." With its digital services, the Trukkin platform is well-positioned to govern the industry and streamline the supply chain. Trukkin is critical in enabling a group of independent truck drivers to boost their efficiency while keeping customer costs down.”

Logistics

Trukkin raises $7 million Series A to grow its trucking platform in Middle East & Pakistan

by News Desk

10 June 2021

Trukkin, a Dubai-based transportation platform, announced today that it has raised $7 million in a Series A round headed by Saudi Arabia's Emkan Capital. Additionally,...

Logistics

Pakistan Post Becomes the Official Delivery Partner of Amazon

by News Desk

2 June 2021

Pakistan Post Office has been legally confirmed as an Amazon delivery partner, according to the official handout. Additionally, the Postal Service would prioritize a list...

Logistics

Pakistan’s Truck It In raises $1.5 million pre-seed for its trucking marketplace

by News Desk

13 April 2021

Truck It In, a trucking marketplace based in Karachi, reported today that it has raised $1.5 million in a pre-seed round led by Global Founders...

Logistics

TPL Trakker to Power Mr. Mahir ‘s Handyman Marketplace

by News Desk

27 February 2021

TPL Trakker, Pakistan's leading IoT company that provides monitoring, telematics, routing, and location-based services and solutions, has partnered with Mr. Mahir, an online marketplace that...

Logistics

Pakistan Post Sets Up More Than 1000 Digital Franchises Across the Country

by News Desk

18 February 2021

Federal Minister of Communications and Postal Services Murad Saeed said Pakistan Post had developed more than 1,000 Digital Franchise Post Offices (DFPOs) in over 130...

Logistics

Malaysian court releases ‘impounded’ PIA plane

by News Desk

27 January 2021

Local media announced on Wednesday that a Pakistan International Airlines (PIA) Boeing 777 aircraft, which was held back by the Malaysian authorities due to a...

Logistics

Pakistan Post suffers massive financial loss

by News Desk

22 January 2021

Due to the suspension of its operations during Covid-19, Pakistan Post suffered a major financial loss. Pakistan Post's operations have been suspended between America, Europe,...

Logistics

MoC all set to finalise NFLP

by News Desk

9 January 2021

The Ministry of Communications (MoC) is all set to give the National Freight and Logistic Policy (NFLP) final touches to ensure the transport of goods...

Logistics

Swati visits Hutchison Ports Pakistan

by News Desk

9 January 2021

The Federal Railway Minister, Azam Khan Swati, visited Pakistan's Hutchison Ports. A thorough tour of the facilities and their capabilities as a state-of-the-art terminal was...