We are leading a SAR 86.25m ($23 million) investment round in TruKKer, the leading truck-focused digital freight marketplace and aggregator in MENA. TruKKer is optimizing the supply and demand between cargo owners and truck drivers, bringing efficiency to a large and critical sector.
Logistics touch every physical thing around us —it is everywhere. Consider its impact on the pricing of goods. Pricing impacts the demand on these goods, which, in turn, impacts the growth of the industries to which these goods belong. It is arguably the vertical with the most impact on macro growth, yet it is the least digitized and most fragmented. The World Bank places Saudi Arabia at the 55th spot on the global “Logistics Performance Index”, so there is much value on the table.
Today, truck drivers must communicate with brokers via phone calls in order to negotiate pricing of each transaction and discuss capacity and routes. 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. It brings standardized rates and higher efficiency to a regional marketplace that is large and fragmented. 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 growth in Saudi Arabia and the UAE has been very promising, and we believe they will soon be present in every logistics hub in the MENA region.
We invest in entrepreneurs who understand their industry inside out, and that is exactly what Gaurav and Pradeep have in abundance. We are inspired by their vision to become the de-facto platform for the MENA logistics industry, and we are very proud to support them in this journey.