Saudi-based STV Leads $23 Million Funding Round in Trukker

Saudi-based Saudi Technology Ventures (STV) said in a blog post that it is leading a $23 million investment round in Trukker, a truck-focused digital freight marketplace and aggregator based in the UAE.

“Today, truck drivers must communicate with brokers via phone calls in order to negotiate pricing of each transaction and discuss capacity and routes,” STV says. “Shippers and brokers must rely on their large rolodex of drivers with different truck types, laboriously communicating with each driver until they find the first available one. It is normal for shippers to call multiple truck drivers only to secure one quote. That is more wasted cycles in an already inefficient system. TruKKer aggregates and matches supply with demand, offering a cohesive workflow for transactions. The company’s digital freight marketplace enables the booking, tracking, rating, and paperless processing of land freight.”

Saudi Technology Ventures is leading the $23m round in TruKKer.

Saudi Technology Ventures is leading the $23m round in TruKKer.

Trukker brings “standardized rates and higher efficiency to a regional marketplace that is large and fragmented,” STV says. “By solving challenges faced by shippers — such as, pricing transparency and real-time tracking— and solving challenges faced by drivers — like large deadhead miles and slow payment cycles— it truly optimizes supply-and-demand in a critical industry.”

TruKKer’s $23M Series A is one of the largest in the MENA region, the company said.

The Company will use the funding to grow the team, enhance customer experience and strengthen its operating infrastructure across the road freight network in the region. TruKKer is operational in Saudi Arabia, UAE, and the rest of the GCC and is in the process of expanding to Egypt, Jordan and the wider Middle East region, according to Wamda.

Trukker was founded by Gaurav Biswas and Pradeep Mallavarapu in 2016.