Funding will support technology upgrades and expansion of digital logistics services.
Logistics technology platform TrucksUp has raised USD 8.2 million in its latest growth financing round, taking its post-money enterprise valuation to USD 42.3 million. The round saw participation from institutional investors, family offices and the company’s co-founders, Sarthak Shah Elwadhi and Aviraj Singh Chadha, who also increased their equity stake. Monarch Networth Capital Limited acted as the exclusive transaction adviser for the fundraising.
The company said the fresh capital will be used to strengthen its technology platform, expand its engineering and data science teams, enhance its freight-matching capabilities, meet working capital requirements and support general corporate purposes. TrucksUp aims to improve asset utilisation by reducing empty return trips and increasing operational efficiency across key freight corridors.
Aligned with India’s National Logistics Policy, TrucksUp focuses on digitising logistics operations for small and medium enterprises by providing freight discovery, predictive telematics and end-to-end transport management solutions. The platform also offers services including FASTag tolling, GPS telematics, vehicle health monitoring and its used commercial vehicle marketplace, Truckshub, which supports drivers and fleet operators with vehicle procurement and financing.
TrucksUp also announced the appointment of actor Ajay Devgn as its brand ambassador to strengthen awareness and drive adoption of its digital platform among truck drivers and fleet operators across India.
