TruKKer Raises $100M in Pre-IPO Funding Round 

TruKKer, a Riyadh, Saudi Arabia-based logistics and transportation company, raised $100M in the pre-IPO funding round. The investment was co-led by lnvestcorp, March Holding, Reliance Egypt, Riyad Valley Capital, and existing investor Mubadala Investment Company.

TruKKer, founded in 2016 is a digital freight network that deploys real-time cloud-based technology to offer end-to-end coverage and a full-service portfolio for shippers, carriers, and businesses alike. The AI-generated platform through its huge data pool ensures efficiency for everyone in the supply chain and ensures project optimization. 

While breaking the investment news, Gaurav Biswas, the Founder & CEO of TruKKer, stated “It is a significant achievement for the organization and its leadership to have closed a late-stage venture round in the current climate in the region. Speaks a lot about the strong fundamentals of the business and its solid growth path. TruKKer is a unique combination of operational excellence powered by new-age technology. We have learned and re-learned the challenges of supply chain focussed on land freight.” 

Hazem Ben-Gacem, Co-Chief Executive Officer of lnvestcorp commented “Saudi Arabia is increasingly rich in highly investible companies, from fast-growth technology businesses like TruKKer to long-established family businesses that have grown consistently and are now looking for capital to implement more ambitious expansion plans. We are seeing a lot of interest in pre-lPO rounds as scale-ups secure greater market share and more and more growing Saudi businesses prove themselves on a national and regional basis.”

The latest funds were raised to upgrade the existing technology, expansions, and growth across TruKKer’s home markets in the Middle East and new markets in Turkey and CIS nations. The company also aims to use funds to penetrate existing and new markets and popularize the use of new-age trucks to stimulate growth. 

TruKKer is one of MENA’s fastest-growing technology companies and the region’s largest digital freight network. TruKKer continues to expand its resilient business model with sustainable unit economics and expects to turn cash flow positive in 2023.