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The Karachi-based, Tech-driven road freight solutions platform Truck It In has just raised an extended $3M round to close its Pre-Seed fundraise at $4.5M. The extended round was led by Global Founders Capital and Fatima Gobi Ventures as a return investor, reposing their confidence in the team. The round also recorded the participation from Picus Capital and Zayn Capital. Previous pre-seed investors include Deosai Ventures and +92 Ventures.
Founded in late 2020 by Muhammad Sarmad Farooq, Raza Afzal, and Haider Navid Truck It In has been elevating supply chains through Tech-driven freight and transportation solutions, servicing stakeholders across Pakistan. Truck It In has partnered with strategic investors that are helping it tap into local supply chains, leveraging regional connections for the next growth phase.
The Pakistan-based Transport ecosystem has been gaining traction, especially with a record-breaking round by Airlift, raising more than the total amount of funds raised across industries in Pakistan in the first half of the year. The movement of product in Pakistan has been one of the most-backed and anticipated venture spaces; Truck It In leading the series of unprecedented funding rounds along with deals closed by Freightix, Trukkr.PK.
This investment comes as a market validation and operations booster for the Pakistan-based startup; especially given its ranking as one of the highest funded Pre-Seed rounds in the Trucking Space. Co-Founder Muhammad Sarmad highlighted “We're at the very early stages of transforming a critical industry and aim to help over 3 million businesses save $1 bn annually in supply chain inefficiencies. Our long-term aim is to streamline and digitize the logistics sector to create a ripple effect across the economy.”
The Pakistan-based startup plans to utilize its newly acquired funds to scale to the next level by further expanding its services and product features. Truck It In is taking big strides towards achieving its vision to digitize the trucking industry and capture the market. FGV’s General Partner, Ali Mukhtar highlighted “Our thesis has been well-placed in Truck It In’s team to streamline Pakistan’s legacy trucking sector and drive rapid growth in the business. We are confident in their ability to further scale across Pakistan and beyond.”
In light of this round, Florian Reichert Partner and Managing Director at Picus Capital concluded “We are excited to partner with the team of Truck It In which in our view is in a prime position to establish themselves as the leading trucking marketplace in Pakistan.”
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