Karachi-based trucking marketplace Truck It In has raised $1.5 million in a pre-seed round led by Global Founders Capital, it announced in a statement today. The round which is one of the largest pre-seed investments raised by a startup in the Middle East, North Africa & Pakistan, also saw the participation of Fatima Gobi Ventures, Deosai Ventures, BitRate Venture Capital, +92 Ventures, as well as angel investors including founders of London-based autonomous driving startup Wayve, and some members of Careem’s leadership.
Started in August 2020, Truck It In connects shippers and truckers through its online platform. For shippers, which are usually businesses, its pitch is fairly simple: access to a reliable fleet of trucks at competitive pricing through its tech platform that comes with live tracking and insights. Truckers on the other side receive instant loads and assurance for back-haul loads (return trips), which is usually a concern, especially for the individual truckers. The startup makes money by taking a cut from every completed trip.