Saudi digital logistics firm TruKKer draws Abu Dhabi majors Mubadala and ADQ in $96m funding round - Gulf News

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STOCK KIZAD The Trukker platform allows better utilisation rates of logistics capacity, which these days has become vital in the smooth functioning of supply chains. Image Credit: Supplied

Dubai: Abu Dhabi’s Mubadala Investment Co. and ADQ have taken a seat in the latest funding round from TruKKer, the Saudi digital freight operator. The latter has completed a Series B round and raised $96 million through a mix of debt and equity.

ADQ holds some of Abu Dhabi’s biggest assets such as AD Ports Group and Kizad in its portfolio.

The Series B equity funding round was led by ADQ and Riyadh-based venture capital fund STV along with the participation from Mubadala. Existing investors Riyad Taqnia Fund and Shorooq Partners and others also participated.

The business has raised a $50 million venture debt from Mars Growth, a Liquidity Group and MUFG joint venture fund, and San Francisco-based Partners for Growth (PFG) backed by the Silicon Valley Bank.

The deal follows a $23 million equity raise by TruKKer in 2019, which was one of the largest Series A funding rounds in the region at the time.

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