Truckistan Technologies, a tech-enabled LTL (less than truckload) company has raised close to $1M in seed money. The round saw participation from global and local investors including Reflect Ventures, Orbit Startups (SOSV), Mentor’s Fund, Sarmayacar, sAI ventures, Loyal VC and Five Rivers Ventures.
Meanwhile, Carlos Cashman, Siddhartha Kongara, Amir Husain, Syed Sheharyar Ali, Abbas Yousafzai, Umair Khan, Yasser Bashir, Ali Zain, Arslan Choudhry, Javad Mushtaq and Sheharyar Ahmed took part as angel investors.
Founded by Zafar Khan and Abid Butt (co-founder of Trucksher, which Trukkr acquired in 2021), the startup has been operating since early 2023. “LTL shipping takes place when B2B shippers want to ship goods by truck, but don’t have enough cargo to fill a full truckload,” a press statement elaborates.
“We are proud to be an early backer of Truckistan Technologies, the team has never failed to
surprise us by performing better time and time again. We are strong believers in the Pakistani
opportunity and are excited to back amazing entrepreneurs like Abid and Zafar who are
building scalable global solutions,” said Michel Friedman, Founding Partner at Reflect Ventures.
The startup also provides tech solutions to local and international companies engaged in multiple deliveries per truck through Truckay Technologies, its holdco and SaaS arm.
After an extremely dry July, Pakistan’s startup ecosystem has seen some deal activity in the past 30 days. First, Paismo announced $1.3M seed round and then Zyp Technologies bagged another $1.2M. Though the aggregate quarterly amount so far remains below Q2-2023, which was the worst quarter since Q1-2020.