Search DubaiPRNetwork.com

Home >> Shipping and Logistic

Trukkin raises $3.5 million becoming the leading truck aggregator in the GCC

Trukkin raises $3.5 million becoming the leading truck aggregator in the GCC

Sunday, June 9, 2019/ Editor -  

Share

Home >> Shipping and Logistic

Dubai, United Arab Emirates - 09 June 2019:   As “on demand” services expand into more industries and market places, Trukkin is leading the way in digital logistics solutions for long-haul trucking.  Launched in 2017, Trukkin is a techno-logistics firm based in Saudi Arabia and the United Arab Emirates operating throughout the Gulf Cooperation Council (GCC) region and beyond. The company works to innovate and simplify logistics and land transportation.  

Trukkin has raised over $3.5 million in the recent funding round, which included marquee investors from the AL-Namlah Family Group, the Al-Madi Family Group, and the Abanumay Family Group. Batic Investments and Logistics, a publicly listed company on Tadawul, remains as one of the key investors in the start-up. 

“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.” said Mohamed Al-Namlah, Managing Director of Amnest Group.

By adding the new capital to the company, Trukkin will be able to significantly scale their services across the GCC region. The company 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.

Investor Al-Madi explained that they had been following the sector for months and were impressed with what Trukkin has been able to achieve. “Their team is very focused on the ground and has shown their operational prowess. We believe we can further add significant capabilities to Trukkin with our investment,” Al-Madi said.

Founder and Chief Executive Officer Janardan Dalmia explained how their model works. “Trukkin operates on an ‘asset-light’ model, meaning it doesn’t own the trucks. Our focus on overall service lets us improve both the customer and transporter experience and also increase asset utilization and reduce inefficiencies.”

Trukkin serves a wide range of customers. Through its app and online marketplace, the company brings together shippers who need more transparency and easier access to trucks with truckers who need better access to demand and higher fleet utilization.  Their client base ranges from businesses who order close to 100 trucks a day to ones with smaller needs who order as few as three trucks a month. 

Trukkin is fully aligned with the Saudi Vision 2030 plan to diversify the country’s infrastructure, with a specific focus on the National Industrial Development and Logistics Program (NIDLP). The NIDLP is working to make Saudi Arabia a “leading industrial powerhouse and a global logistics hub.” 

CEO Dalmia says the company’s aggressive growth strategy fully supports the vision. “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,” Dalmia explained.

Trukkin is one of several startups gaining global recognition in the new industry. In 2018, a Wall Street Journal headline noted that China’s Truck Alliance, a truck hailing company, was on course for a $10 billion valuation. Blackbuck, India’s largest trucking platform, was named CNBC’s 2018 Startup of the Year reaching unicorn status in 2019.


Previous in Shipping and Logistic

Next in Shipping and Logistic


Home >> Shipping and Logistic Section

Latest Press Release

Montegrappa Welcomes Back Hazzaa Al Mansoori and Marks the Historic Occasion by ...

Diwali Feast at Purani Dilli at Four Points by Sheraton, Sheikh Zayed Road

Revving The Engines At Rallylegend 2019 With Eberhard & Co.

This visually-impaired Emirati knows no impossible

The Turtleneck Edit

November Specials at Le Meridien Al Aqah

Hormann introduces faster and more energy efficient fourth generation garage doo ...

Abu Dhabi Airports Announces Winner of AED 1 Million Award

EWEC receives six proposals for Fujairah F3 power plant project

France to introduce new operating models & capabilities at Gulfood Manufacturing ...

ENEC and Rosatom continue cooperation in the peaceful use of nuclear energy

One stop shop for classifieds and deals in UAE- QUOODO.com

Croco Style, Not Croco Skin

The new urban warrior unleashed - Corum injects modernity and athleticism into ...

The Workwear Edit

Baarish 2.0 is back by popular demand for a second run at Bollywood Parks™ Dubai

Worldsteel Short Range Outlook October 2019

Choithrams Customer lends her voice to World Food Day in support of The United N ...

Something Special is Baking: Highly-anticipated Kinder Delice Set to Hit UAE and ...

Commercial Bank of Dubai adopts the Microsoft Cloud to accelerate digitization