United Arab Emirates-based on-demand truck hire service Trukker has attracted $23m in a series A round featuring Saudi Technology Ventures (STV), the independent venture capital fund for telecommunications firm Saudi Telecom, Wamda has reported.
The round included Riyad Taqnia Fund, International Finance Corporation, Oman Technology Fund, Endeavor Catalyst, Middle East Venture Partners, Iliad Partners and Shorooq Ventures.
Trukker runs an on-demand platform offering price comparisons and bookings for a customer base of 15,000 truckers carrying freight over long-haul, last-mile and sea crossing routes. The series A cash will fund recruitment and customer experience activities.
Iliad Partners led a convertible debt round of undisclosed size for Trukker in February 2019 that followed $2.7m in a September 2018 pre-series A round led by OTF Jasoor and backed by conglomerate Almajdouie’s Raed Ventures unit, Riyad Taqnia Fund, Shorooq Ventures, 500 Startups and Arzan VC.
Raed Ventures led Trukker’s $1.4m seed round in late 2017, investing with Riyad Taqnia, 500 Startups, Averroes Ventures and Arzan VC, adding to an undisclosed amount already provided by Arkan Partners.