TruKKer Funding, Investors & Competitors
TruKKer has raised $220M across 9 funding rounds, most recently a $100M Series C in September 2022.
Last TruKKer funding round
$100M
Series C · Sep 2022
Cumulative funding TruKKer raised
$220M
across 9 funding rounds
Key investors in TruKKer
Riyad TAQNIA Fund (RTF)
Shorooq Partners
500 Global
International Finance Corporation
Mubadala
Raed Ventures
STV
Arzan Venture Capital
About TruKKer
TruKKer is a digital trucking platform operating in the Middle East and Pakistan with 100,000 registered trucks. Founded in 2016 and headquartered in Abu Dhabi, it matches shippers and carriers for full truckload shipments using real-time bidding and analytics, handling 500,000 tons monthly across UAE, Saudi Arabia, and beyond.
Founded
2016
HQ
RiyadhWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Commission, Subscription
TruKKer Funding History
TruKKer has raised a total of $220M across 9 funding rounds.
TruKKer's first fundraising round was a $300K pre-seed round in December 2015. The most recent completed round was a $100M Series C in September 2022.
TruKKer funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Sep 2022 | Series C | Investcorp Capital (lead); March Holding; Select Venture Equity; Riyadh Valley Company; Mubadala; Reliance Egypt | $100M | TruKKer is MENA's largest digital freight network, operating as an Uber-like platform for trucks across Saudi Arabia, UAE, Egypt, and neighboring countries. It connects over 700 B2B enterprise clients with nearly 10,000 drivers, providing real-time pricing, status updates, automated bookings, and optimizing supply chains by increasing reverse loads and reducing idle time. The company serves more than 1,200 enterprise clients with over 70,000 transporters in some reports. On September 7, 2022, TruKKer raised $100 million in a Series C pre-IPO equity round led by Investcorp's Saudi Pre-IPO Growth Fund with a $51 million initial close. Participants included new investors March Holding, Reliance Egypt (or Reliance Group), Riyadh Valley Company (or Riyad Valley Capital/Riyad Taqnia Fund), and existing investor Mubadala. The funding aims to scale the network, drive market share, enable consolidation, explore market listing, accelerate growth, and support regional expansion leveraging proprietary technology to reduce carbon emissions. At the time of the round, TruKKer was experiencing exponential growth and on track to surpass $200 million in revenues for 2022. The investment aligns with Investcorp's strategy for high-growth businesses in transport and logistics poised for capital markets access within three years. TruKKer, founded in 2016, continues operations across nine countries as a leading freight-tech platform. Subsequent developments include a $15 million debt facility from Ruya Partners in 2025 for further expansion and tech enhancements, building on prior rounds totaling over $233 million across multiple financings. |
| Mar 2022 | Undisclosed stage | Mars Growth Capital (lead); MUFG | $40M | TruKKer is a Saudi-headquartered digital freight network operating an Uber-like platform for lorries and pick-up trucks across the Middle East, Central Asia, UAE, Saudi Arabia, Egypt, Pakistan, Bahrain, Jordan, Oman, and Turkey, with a fleet exceeding 40,000 trucks. In early 2022, specifically around February, TruKKer raised $96 million in a Series B round comprising equity and debt financing. The equity portion was led by ADQ and STV, with participation from Mubadala, Riyad Taqnia Fund, and Shorooq Partners. Separately, as part of this financing, TruKKer secured $50 million in venture debt from Mars Growth Capital, a joint venture between Liquidity Group and MUFG, and Partners for Growth. The funds were intended to support aggressive expansion, including new market entries like the acquisition of Pakistan-based Trucksher, launching new products and features, and scaling operations in the Middle East and Central Asia. TruKKer had previously raised equity in 2019 and later secured a $100 million late-stage growth round in September 2022 led by Investcorp with Mubadala participation, ahead of a planned IPO. The company leverages real-time technology for land freight, positioning itself as a sector leader amid regional digitization trends in logistics and transportation. |
| Feb 2022 | Series B | ADQ (lead); STV (lead); Shorooq Partners; Riyad TAQNIA Fund (RTF); Mubadala | $46M | TruKKer is a Saudi Arabia-based digital freight network that operates an Uber-like platform connecting enterprises with lorries and pickup trucks across the MENA region, Central Asia, and new markets in Turkey and the CIS. Founded in 2016 by Pradeep Mallavarapu and Gaurav Biswas, the company serves over 700 B2B enterprise clients including blue chips from FMCG, retail, metals, petrochemicals, and oil & gas sectors, with a carrier network of over 40,000 trucks and close to 10,000 drivers generating more than 70% of their monthly income through the platform. In February 2022, TruKKer completed a Series B funding round raising $96 million in a mix of equity and debt financing. The equity portion was led by Abu Dhabi holding company ADQ and Riyadh-based venture capital fund Saudi Technology Ventures (STV), with participation from Mubadala Investment Company. Existing investors including the Public Investment Fund-backed Riyad Taqnia Fund and Shorooq Partners also participated. The company additionally raised $50 million in venture debt from Mars Growth (a joint venture between Liquidity Group and MUFG) and San Francisco-based Partners for Growth, backed by the Silicon Valley Bank. The Series B was regarded as the highest Series B investment round in the MENA for 2022. TruKKer demonstrated strong operational metrics and market traction. The platform saved an estimated 15 million empty kilometres for large lorries in 2021, with plans to double that figure in 2022. By September 2022, the company was on track to cross $200 million in revenues for that year. The company expanded exponentially across its home markets of Saudi Arabia and the UAE and into new markets across North Africa and Central Asia, including the acquisition of Pakistan-based Trucksher to access the South Asian market. Following the Series B round, TruKKer raised an additional $100 million in a Series C equity round in September 2022 led by Investcorp (with a $51 million investment), alongside new and existing investors including Riyad Valley Capital, Reliance Group, and March Holding. The company expected to turn cash flow positive in 2023 and planned to use proceeds to deepen its presence in existing markets, launch new products and features, and expand into complementary verticals including electric vehicles, financial inclusion services, and financing of asset improvements in the land freight sector. |
| Nov 2019 | Series A | STV (lead); Shorooq Partners; Oman Technology Fund; Riyad TAQNIA Fund (RTF); Endeavor Catalyst; International Finance Corporation; Iliad Partners; Middle East Venture Partners (MEVP); Bossa Invest | $23M | TruKKer is a UAE-based digital freight platform founded in 2016 that connects transporters with consumers and commercial enterprises for road freight services, including long-haul cross-country, port movements, and last-mile deliveries of large and bulky cargo. The platform enables instant booking, real-time demand and supply matching, digital price discovery, cargo tracking, and digitization of document processing. By late 2019, it operated across the GCC and Jordan with over 15,000 member trucks servicing more than 200 clients. In November/December 2019, TruKKer raised $23 million in a Series A funding round led by STV, with participation from new investors International Finance Corporation (IFC), Endeavor Catalyst, and Middle East Venture Partners (MEVP), as well as existing investors Riyad TAQNIA Fund (RTF), Oman Technology Fund, Iliad Partners, and Shorooq Partners. This followed a prior $4.1 million pre-Series A round, bringing total funding to $27.1 million at the time. The round was described as one of the largest Series A investments for a logistics startup in the MENA region. The funds were earmarked for strengthening operations, infrastructure, team expansion, technology and R&D enhancements, improving user experience, and geographic expansion into Egypt, Jordan, and other MENA countries. Founder and CEO Gaurav Biswas emphasized the role of the investment in scaling to become the region's leading trucking freight exchange, promoting transparency and efficiency. STV's Ahmad AlNaimi highlighted TruKKer's potential to disrupt the logistics market, projected to reach $66 billion by 2020, amid growing adoption of digital freight platforms. Competitors in the space included Trella in Egypt and Trukkin and Load-Me in the GCC. |
| May 2019 | Seed | International Finance Corporation (lead) | $3M | TruKKer is a Dubai-based logistics startup operating as an 'Uber for trucks' platform that matches cargo owners with long-haul truck drivers for e-logistics services in the Middle East. The International Finance Corporation (IFC) considered an equity investment of up to $3 million or $5 million in TruKKer Holding Limited around May 2019 to support growth and market expansion. This proposed investment was part of TruKKer's early funding activities following a $2.7 million pre-Series A round led by OTF Jasoor Ventures with participation from Shorooq Investments and others. TruKKer's digital platform aims to disrupt the fragmented trucking market by providing predictability, reliability, price transparency, and better asset utilization for cargo owners, transporters, and drivers. The investment was expected to reduce costs, improve logistics quality, increase driver income, and enhance sector competitiveness through innovation and efficiency. IFC had previously supported six e-logistics companies in emerging markets, including Zinka Logics and Kobo360. Later, TruKKer raised a $23 million Series A in November 2019 from STV, IFC, Endeavor Catalyst Fund, MEVP, and existing investors to strengthen operations, expand the team, and enhance technology. At that time, the company had over 15,000 member trucks serving more than 200 clients, focusing on road freight including cross-country hauls, port movements, and last-mile deliveries. |
| Feb 2019 | Seed | Iliad Partners (lead) | $4M | TruKKer is a UAE-based digital freight marketplace founded in 2016 by Gaurav Biswas and Pradeep Mallavarapu that connects transporters with businesses to provide logistics services across the Middle East and Central Asia. The platform enables instant booking, real-time demand and supply matching, digital price discovery, cargo tracking, and digitization of freight documentation. TruKKer operated in Saudi Arabia, UAE, and the GCC region as of 2019, with plans to expand to Egypt, Jordan, and other Middle Eastern countries. In February 2019, Iliad Partners led a convertible debt round of undisclosed size. Later that same year, in November 2019, TruKKer raised $23 million in a Series A equity round led by Saudi Technology Ventures (STV), International Finance Corporation (IFC), Endeavor Catalyst, and Middle East Venture Partners, alongside existing investors Riyad Taqnia Fund, Oman Technology Fund, Iliad Partners, and Shorooq Ventures. By the time of the Series A, TruKKer had assembled a fleet of over 25,000 trucks and more than 500 B2B customers on its platform. The funding was designated for team expansion, customer experience enhancement, technology development, and strengthening operating infrastructure across the road freight network. |
| Sep 2018 | Seed | otf Jasoor Ventures (lead); Riyad TAQNIA Fund (RTF) (lead); Shorooq Partners (lead); Arzan Venture Capital; Khwarizmi Ventures; Raed Ventures; 500 Global | $3M | - |
| Dec 2017 | Seed | Raed Ventures (lead); Riyad TAQNIA Fund (RTF); Averroes Ventures; Arzan Venture Capital; 500 Global | $1M | - |
| Dec 2015 | Pre-seed | - | $300K | - |
Who has invested in TruKKer?
24 investors have backed TruKKer across its funding rounds, including Riyad TAQNIA Fund (RTF), Shorooq Partners, 500 Global, International Finance Corporation, Mubadala and Raed Ventures.
Lead investors include Investcorp Capital, Mars Growth Capital, ADQ, STV, International Finance Corporation and 5 other investors.
TruKKer Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Saudi Arabia | 4 | Lead | Dec 2017 | |
 Abu Dhabi | 3 | Lead | Sep 2018 | |
| Riyadh | 2 | Lead | Nov 2019 | |
 Washington, DC | 2 | Lead | May 2019 | |
| Abu Dhabi | 2 | Participant | Feb 2022 | |
 Kuwait City | 2 | Participant | Dec 2017 | |
| Dubai | 2 | Lead | Feb 2019 | |
| Riyadh | 2 | Lead | Dec 2017 | |
| San Francisco, CA | 2 | Participant | Dec 2017 | |
| Abu Dhabi | 1 | Lead | Feb 2022 | |
 Muscat | 1 | Participant | Nov 2019 | |
 Tokyo | 1 | Participant | Mar 2022 | |
| Dubai | 1 | Participant | Sep 2022 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by TruKKer
TruKKer has acquired 1 company to date.
Last acquisition by TruKKer was on September 8th 2021. TruKKer acquired TruckSher for undisclosed valuation.
Latest Acquisitions by TruKKer
| Description | TruckSher is an Indian digital platform matching shippers with fleet operators. It routes load requests using data analytics and algorithms to ensure timely delivery at competitive rates. Available via web and app, the service covers pan-India routes for industries like textiles, agriculture, and retail. Headquartered in Mumbai, it emphasizes quick bookings and transparent pricing. |
| HQ Country |  |
| HQ City | Karachi |
| Deal Date | 8 Sep 2021 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all TruKKer acquisitions and their M&A valuation multiples. Start Free Trial | |
TruKKer Competitors
TruKKer competitors include listed companies like Delhivery and Kuehne + Nagel, and private ones like Uber Freight, Loggi, Flexport and Forto.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | $211M | - | $3.3B | 15.6x | |
 São Paulo | Private | - | - | $1.8B | - | |
| San Francisco, CA | Private | $471M | - | $8B | - | |
 India | Publicly listed | $1.1B | $80M | $3.4B | 2.7x | |
 Berlin | Private | - | - | $2.1B | - | |
 Switzerland | Publicly listed | $30B | $2.6B | $31B | 1.2x |
TruKKer Public Comps
TruKKer is still privately-owned, but its public comps include UPS, Canadian National Railway, FedEx, Deutsche Post, Maersk, DSV, Adani Ports & Special, Poste Italiane, Roper Technologies and Old Dominion Freight Line.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $89B | $12B | 1.2x | 1.2x | 9.2x | 8.8x | |||
| $12B | $6.5B | 7.2x | 6.8x | 13.6x | 13.9x | |||
| $95B | $11B | 1.1x | 1.1x | 9.5x | 9.9x | |||
| $95B | $13B | 1.0x | 1.0x | 7.8x | 7.4x | |||
| $54B | $10B | 1.1x | 1.0x | 5.9x | 5.4x | |||
| $38B | $3.6B | 1.6x | 1.3x | 16.4x | 11.5x | |||
| $4B | $2.4B | 11.8x | 11.0x | 20.2x | 18.7x | |||
| $27B | $4.8B | 3.9x | 6.7x | 22.1x | - | |||
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Common questions about TruKKer
| When was TruKKer founded? | TruKKer was founded in 2016. |
| Where is TruKKer headquartered? | TruKKer is headquartered in Riyadh, Saudi Arabia. |
| Is TruKKer publicly listed? | No, TruKKer is a private, VC-backed company. |
| How much funding has TruKKer raised? | TruKKer has raised $220M across 9 funding rounds. |
| What was TruKKer's last funding round? | TruKKer's last funding round was a $100M Series C in September 2022, led by Investcorp Capital. |
| Who are TruKKer's investors? | TruKKer's investors include Riyad TAQNIA Fund (RTF), Shorooq Partners, STV, International Finance Corporation, Mubadala, Arzan Venture Capital, Iliad Partners, Raed Ventures, 500 Global, ADQ and 14 others. |
| Which companies are comparable to TruKKer? | Companies comparable to TruKKer include Uber Freight, Loggi, Flexport, Delhivery, Forto and Kuehne + Nagel. |
| How many companies has TruKKer acquired? | TruKKer has acquired 1 company, including TruckSher. |
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