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Logistics technology platform TrucksUp has raised USD 8.2 million in its latest growth financing round, taking its post-raise enterprise valuation to USD 42.3 million. The round saw participation from institutional investors, family offices and co-founders Sarthak Shah Elwadhi and Aviraj Singh Chadha, who co-invested to expand their equity holding. Monarch Networth Capital Limited acted as the exclusive transaction advisor.
The funds will go toward strengthening TrucksUp’s technology capabilities, expanding its product engineering and data science teams and enhancing its freight-matching engine to optimize asset utilization and reduce empty transit trips across national freight corridors. Some of the capital will also support working capital requirements and general corporate purposes.
Aligned with India’s National Logistics Policy, TrucksUp focuses on integrating small and medium enterprises onto its digital network, giving shippers access to automated freight discovery and predictive telematics tracking.
The platform also offers an in-cabin vehicular lifecycle stack for drivers and fleet operators, including FASTag tolling, GPS telematics and vehicle health tracking. Through its used-vehicle program, Truckshub, the company helps drivers transition into independent fleet owners via vehicle procurement and asset financing.
“Our focus has always been on solving ground-level operational challenges that truck drivers and fleet operators face every day,” said Sarthak Shah Elwadhi, Co-founder, TrucksUp. “With this capital, we are doubling down on our technology stack to streamline asset discovery, improve vehicle turnaround times and give transport operators better visibility over their day-to-day operations.”
TrucksUp has onboarded actor Ajay Devgn as its brand ambassador to drive mobile app adoption across national highway networks.
