Funding round
TruKKer Series A
TruKKer, which works in logistics services in Dubai, raised $23M in a Series A round announced on 11 Nov 2019, led by STV and STV. 9 firms took part. It is TruKKer's second venture round on record; the one before was a Pre-seed in Jan 2019.
$23M
Amount raised
Not disclosed
Post-money valuation
9
Investors
2 leads
Valuation
What this round says about the price
TruKKer did not disclose a valuation in this round. It came 10 months after TruKKer's Pre-seed. It is 7.1% of the $322M TruKKer has raised in the venture rounds on record. TruKKer raised again 27 months later: a Series B round of $96M in Feb 2022.
TruKKer's funding rounds
TruKKer has 5 venture rounds on record and 4 other deals. This one is highlighted.
- Pre-seed 1 Jan 2019 $2.7M
- Series A this round 11 Nov 2019, led by STV $23M
- Debt not a venture round 1 Jan 2020 $10M
- Debt not a venture round 1 Feb 2022 $50M
- Series B 14 Feb 2022, led by ADQ and STV $96M
- Series C 7 Sep 2022, led by Investcorp $100M
- Debt not a venture round 4 Jul 2025 $15M
- Debt not a venture round 15 May 2026, led by ADCB $300M
- Growth 12 Sep 2026, led by Investcorp $100M
Investors
Who put money in
STV and STV led the round with 7 other firms.
Lead investors
- backs 7 venture-backed companies new investor
- STV
Also in the round
- International Finance Corporation backs 92 venture-backed companies new investor
- Endeavor backs 236 venture-backed companies new investor
- backs 27 venture-backed companies new investor
- Riyad Taqnia Fund new investor
- backs 10 venture-backed companies new investor
- backs 3 venture-backed companies new investor
- backs 31 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
9 Series A rounds in Trucking and Logistics within a year either side disclosed an amount; the median was $20M, and this round was 1.1 times the median. The closest in time, other companies' Series A rounds in Trucking and Logistics:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Trucking and Logistics | 8 Nov 2019 | $30M | not disclosed | Hillhouse Capital Group and Crystal Stream Capital |
| Trucking and Logistics | 26 Feb 2020 | $10M | not disclosed | Matrix Partners |
| Trucking and Logistics | 13 Apr 2020 | $31M | not disclosed | Tenaya Capital |
| Trucking and Logistics | 23 May 2020 | $20M | not disclosed | Naspers |
| Trucking and Logistics | 2 Feb 2019 | $14M | not disclosed | Monashees |
| Trucking and Logistics | 29 Jan 2019 | $356M | not disclosed | China Life Insurance |
| Trucking and Logistics | 23 Nov 2020 | $25M | not disclosed | Wittington Ventures and Innovation Endeavors |
| Trucking and Logistics | 3 Nov 2020 | $6.0M | not disclosed | Monk's Hill Ventures |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did TruKKer raise in its Series A round?
TruKKer raised $23M in its Series A round, announced in Nov 2019.
Who led TruKKer's Series A round?
STV and STV led it, with International Finance Corporation, Endeavor, Middle East Venture Partners, Riyad Taqnia Fund and Oman Technology Fund and 2 more.
What was TruKKer's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Trucking and Logistics?
9 Series A rounds in Trucking and Logistics within a year either side disclosed an amount; the median was $20M, and this round was 1.1 times the median.
Did TruKKer raise again after this round?
Yes: a Series B round in Feb 2022 of $96M.