UAE-based Trukker, a truck delivery marketplace, has raised one of the largest initial rounds in the Middle East region.
Trukker has raised $23 million in the latest Series A funding round, led by STV, a $500 million Saudi technology venture capital fund. The VC fund has previously invested in Careem, the ride-hailing app which was acquired by Uber.
“We are already operating in U.A.E and Saudi and moving cargo all over the GCC, Middle East and North Africa,” said Gaurav Biswas, Chief Executive Officer of Trukker.
This funding round will make it the fourth largest Series A funding round on record in the Middle East, giving it a huge advantage in the region.
Trukker was founded in Abu Dhabi in 2016, and provides 100% automated booking, and real-time tracking of trucks for anyone in need to rent a vehicle to transport items across the UAE or the GCC. Users can get instant quotes, book online, track their shipments in real-time.
“Increasing that reach to costumers and truck drivers all across this region is our top priority in terms of using our funds,” Biswas said, adding that Trukker expects to expand into Egypt before the end of the year. The startup brings its total venture capital investment to $27.1 million.