Riyadh: Saudi Arabian investors led the latest $ 7 million in funding announced this week by logistics and supply chain startup Trukkin.
The Series A funding round was led by Saudi venture capital firm Emkan Capital and was attended by Impact46 Seed Fund, Taya Group and other strategic investors, the company said in a statement.
Founded in 2017 by former Barclays banker Janal Dandalmia, Trukkin is a platform that digitizes the process of matching shippers with truck drivers.
“If you look at the road transport market in the Gulf region, it’s a $ 25 billion market. Saudi Arabia alone is 40% of that, about $ 9 to $ 10 billion. Saudi Arabia remains in terms of land freight restructuring. It’s a great and fascinating opportunity. “
The company operates in the eastern part of Dammam, western Jeddah and central Riyadh, covering nearly 100 locations throughout the kingdom.
“We have a strong operations team and have been there for the last three years. We are very much working with Saudi Vision 2030, where we have invested heavily to strengthen our team and potentially. We will hire many locals, develop and develop local talent in terms of both technology and operations, and increase our bases in Riyadh and Jeddah, “Darmia said.
Trukkin entered Pakistan in 2020, increasing the number of countries currently operating to 12 countries.
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