Saturday, December 2, 2023

Pakistan's Truckistan Technologies secures $1M initial funding ... - TechNode Global

Last updated Thursday, September 21, 2023 05:02 ET

Truckistan Technologies, the Pakistan-based tech-enabled less-than-truckload (LTL) company, has on Tuesday announced its successful seed fundraising round.
Truckistan Technologies said in a statement that the final amount is nearly $1 million with some late-stage participants yet to finalize their commitments.
According to the statement, the funding round has garnered support from an impressive roster of investors including Reflect Ventures, Orbit Startups (SOSV), Mentor’s Fund, Sarmayacar, Loyal VC, SAI ventures, Five Rivers Ventures and many distinguished angels (Carlos Cashman, Siddhartha Kongara, Amir Husain, Syed Sheharyar Ali, Abbas Yousafzai, Umair Khan, Yasser Bashir, Ali Zain, Arslan Choudhry, Javad Mushtaq and Sheharyar Ahmed).
“Our technological advantage has allowed us to establish a significant cost benefit over competitors and enabled us to offer a better service to our customers. This round of investment will further fuel our growth and refine our services,” said Abid Butt, Chief Executive Officer of Truckistan Technologies.
Truckistan Technologies is a tech enabled LTL company with current operations based in Pakistan.
The company is co-founded Abid Butt and Zafar Khan, both industry veterans with over 25 years of experience in logistics and technology and a few exits under their belt.
LTL shipping takes place when business to business (B2B) shippers want to ship goods by truck, but don’t have enough cargo to fill a full truckload.
Truckistan Technologies...

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