Truck It In, a road freight tech platform, has raised another $13 million in seed funding. According to the startup, it is the “largest” funding in the trucking space in the Middle East, North Africa and Pakistan (MENAP) region. The latest round brings the total raised capital by the company to $17.5m, which will support Truck It In’s mission to transform Pakistan’s road freight industry.
The funding round was led by venture capital firms Global Founders Capital and Fatima Gobi Ventures and also saw participation from Wamda, Picus Capital, Millville, Graph Ventures, Zayn Capital, i2i Ventures, ADB Ventures, Cianna Capital, Reflect Ventures, and K3 Ventures.
According to the startup, their revenue grew 37 times last year as they remained busy solving deep-rooted challenges. “The impact generated allows truckers to lead better economic lives while serving the country.”
Pakistan is one of the largest road freight markets in the Middle East and North Africa, representing a $25 billion annual opportunity, their statement read.