TNI || New Delhi || 4th April 2022
Trucknetic is a tech-first logistics firm that is changing the digital freight sector by creating a market place that connects shippers and carriers effectively through artificial intelligence, automation, and other software services.
The logistics firm is expanding and plans to raise up to USD 10 million in the first round of funding by the end of May this year.
The company is in negotiations with some angel investors and is on the lookout for major venture capital funds.
Trucknetic intends to use the funds raised to improve its existing software-as-a-service (SaaS) and analytics-based supply chain products, both organically and inorganically.
It will also improve operating reliability by implementing a scalable, modular technological platform that will enhance the user experience and aid in the development of a huge trading community.
The funding round will be a testimony to the team’s great efforts to help their clients save money. Trucknetic is poised to grow massively in the next few years, owing to rising industry tailwinds toward digitization and the company’s capitalised balance sheet.
To support this exponential growth, they will continue to invest in developing talent and technology, says Trucknetic’s founder and Chief Trucking Officer, Arham.
According to him, the money will be used to fund technical advancement, increase automation, and expand its geographic footprint. Inorganic growth will also be considered by the tech-first logistics firm. Trucknetic is a key player in India’s burgeoning e-commerce sector, which is still in its early stages and has a long way to go.
Technology is transforming every facet of how logistical organisations work. “Digital fitness” will be a necessity for success: those who can utilise a wide variety of new capabilities, from data analytics to automation and platform solutions, will be the victors.
Those who don’t risk becoming obsolete. However, with so many technologies vying for management’s time and money, creating a clear digital strategy that is linked to the business strategy will be important.
The company’s Trucknetic Carrier programme has over 50000 installations, and the Trucknetic Shipper application has over 15000 downloads, and it has carried close to 100,000 metric tonnes of products.
Trucknetic has a network of around 200,000 fleet operators and 50,000 carriers, totaling over 1 million trucks in their system.
Since December 2019, it has generated around USD 3 million in income.
The platform has a wide range of goods, truck types, and lanes to choose from. Coal, chemicals, culinary oils, glass, plywood, and other commodities have been hauled across the country for long, short, and medium hauls by the company.