Logistics platform TrucksUp has raised $8.2 million in a funding round at a post-money valuation of $42.3 million from institutional investors and family offices, along with co-founders Sarthak Shah Elwadhi and Aviraj Singh Chadha, who have increased their stake in the company. The fresh funds will be used to scale its technology and fleet solutions, TrucksUp said in a press release. Founded in 2022 by Sarthak Shah Elwadhi and Aviraj Singh Chadha, TrucksUp is an AI-driven digital freight marketplace and logistics platform that aims to bridge the demand-supply gap in India’s traditional trucking ecosystem. The platform connects truck owners, fleet operators, and drivers directly with businesses requiring freight movement. According to the Gurugram-based startup, its AI-enabled algorithms match available trucks with verified loads in real time to reduce reverse-loading wait times. It also offers a single dashboard for real-time GPS tracking, digital document management, and shipment monitoring. TrucksUp provides FASTag solutions, smart fuel programmes, insurance support, and vehicle financing options. It also facilitates the buying and selling of new and pre-owned commercial vehicles. The startup also runs safety initiatives and health check-up camps and provides access to its “Apna Ghar” network along major corridors for safe parking and rest. It has partnered with the National Highways Authority of India (NHAI) and Indian Highways Management Company Ltd (IHMCL) to enable real-time driver feedback and road updates. The platform has also formed a strategic alliance to provide vehicle financing and capital access to transporters and fleet owners in Tier 2 and Tier 3 cities. The funding comes amid growing investor interest in AI-led logistics and freight technology. FreightFox recently raised Rs 5 crore in a pre-Series A round led by HighLeaf to expand its platform and market reach, while Mojro Technologies secured $5.5 million in Series A funding to accelerate product innovation and global expansion. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
