Gurugram-based logistics technology platform TrucksUp has raised $8.2 million in a growth funding round, with co-founders Sarthak Shah Elwadhi and Aviraj Singh Chadha also increasing their stake in the company.
The round saw participation from institutional investors and family offices, alongside the two founders. TrucksUp plans to deploy the fresh capital towards scaling its technology and fleet solutions, giving the company additional resources to expand the digital infrastructure behind its freight and trucking operations.
Founded in 2022 by Elwadhi and Chadha, TrucksUp operates an AI-driven digital marketplace and logistics platform focused on the movement of road freight in India. Its model brings truck owners, fleet operators and drivers into direct contact with businesses looking to move goods, with the platform positioned around reducing gaps between freight demand and available trucking capacity.
A key part of the platform is its AI-enabled matching system. TrucksUp uses algorithms to match available trucks with freight requirements in real time, with the aim of cutting reverse-loading wait times. For transporters, those waiting periods can mean vehicles spending more time without a productive load, making faster matching an important part of the company’s technology proposition.
The platform also gives users a single dashboard covering fleet tracking, digital document management and shipment monitoring. Rather than limiting itself to freight discovery, TrucksUp has built a wider set of services around the commercial vehicle ecosystem.
These offerings include FASTag solutions, smart fuel programmes, insurance support and vehicle financing. The company also facilitates transactions involving new and pre-owned commercial vehicles, adding another layer to its relationship with truck and fleet owners.
Apart from its digital offerings, TrucksUp is developing services that will target truck drivers and operators. These services include safety programs and health check-up camps for them. They are also providing them parking and resting facilities on major transportation routes. They have also tied up with the National Highways Authority of India and Indian Highways Management Company Ltd for driver feedback and road information.
TrucksUp has additionally formed a strategic alliance focused on providing vehicle financing and access to capital for participants in the trucking ecosystem across Tier 2 and Tier 3 cities. That part of the business broadens its role beyond matching freight and trucks, bringing financing-related services into the same ecosystem.
The latest capital raise comes at a time when funding continues to reach technology companies working on freight and logistics. FreightFox raised Rs 5 crore in a pre-Series A round led by HighLeaf to expand its platform and market presence, while Mojro Technologies secured $5.5 million in Series A funding to accelerate product development and global expansion.
For TrucksUp, however, the notable feature of the $8.2 million round is not only the size of the fundraise but the increased stake taken by its own co-founders. With the new capital earmarked for technology and fleet solutions, the company is now preparing to build further on a platform that combines freight matching, fleet management, financial services and commercial vehicle support within a single logistics ecosystem.
Also Read: Instinct Raises $250M Series B, Valuation Hits $2.5 Billion
