Dubai PR Network, Online Press Release from Dubai and Middle East
 
Shipping & Logistic(Shipping and Logistic)
Filter PR by
  
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

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.


Posted by : Dubai PR Network Editorial Team
Viewed 2275 times
PR Category : Shipping and Logistic
Posted on : Sunday, June 9, 2019  2:05:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Chinese to invest $4 billion in UAE logistics projects
Next Story : Sultan Bin Sulayem launches Dubai Customs' Smart Vessel Bert...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Chloé Launches The New Cloud-shaped “rosie” Sunglasses [7698-Views]
Max Mara Resort 2020 Collection [7576-Views]
BYS COSMETICS Now in UAE [7460-Views]
Tissot Introduces Chrono XL 3x3 Street Basketball Special Collection [7283-Views]
Saint Honore [5783-Views]
VBQ-presskit-denim-70s Capsule [5222-Views]
Introducing the Swim and Beachwear Summer Collection from Marks & Spencer [5118-Views]
Hackket's Bags of Style [4898-Views]
Ministry of State for FNC Affairs Launches Forum Titled ‘Political Empowerment in the UAE' [4636-Views]
New Land Rover Defender Completes Tusk Testing to Support Lion Conservation in Kenya [4551-Views]
Natural and gentle haircare essentials for your little ones from Fifi & Friends' [4490-Views]
Eberhard & Co. Alfa Romeo Limited Edition [4435-Views]
UAE and Oman bodies sign MoU to jointly promote Internal Auditing [4416-Views]
Rado Captain Cook Automatic Limited Edition with travel case' [4343-Views]
Jaguar Land Rover & Bmw Group Announce Collaboration for Next Generation Electrification T... [4246-Views]
The Economic Times recognizes Malabar Gold & Diamonds as one of the Best Brands 2019 [3971-Views]
Kickstart your summer workout with Ibn Battuta Mall's free indoor family Fun Run [3898-Views]
Vincitore Realty sells out 108 homes in the Dh375 million Benessere project in just three ... [3843-Views]
OMEGA Rocket Engine - Introducing the Master Chronometer Calibre 3861 [3758-Views]
Sony World Photography Awards Reveals New Categories for 2020 and Latest Sony Grant Recipi... [3752-Views]
Historic Opening of Coca-cola Arena Gets the Seal of Approval From Thousands of Fans [3727-Views]
Britain's Greatest Test Driver, Norman Dewis Obe, Passes Away [3538-Views]
The Gucci Runway Makeup Looks for Cruise 2020 [3477-Views]
Jennifer Lopez in Ralph Lauren [3440-Views]
CEO of Etihad ESCO, Ali Al Jassim's Statement on World Environment Day 2019 [3434-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories