Logistics technology platform TrucksUp has raised $8.2 million in a fresh funding round at a post-money valuation of $42.3 million, as the startup looks to expand its technology and fleet solutions.
The round saw participation from institutional investors and family offices, alongside co-founders Sarthak Shah Elwadhi and Aviraj Singh Chadha, who have increased their stake in the company.
TrucksUp said the newly raised capital will be deployed towards scaling its technology infrastructure and fleet solutions as it seeks to strengthen its presence in India’s fragmented trucking and freight ecosystem.
Founded in 2022 by Sarthak Shah Elwadhi and Aviraj Singh Chadha, TrucksUp operates as an AI-driven digital freight marketplace and logistics platform. The company aims to address the demand-supply gap in India’s traditional trucking ecosystem by directly connecting truck owners, fleet operators and drivers with businesses requiring freight transportation.
Its technology uses AI-enabled algorithms to match available trucks with verified freight loads in real time, helping reduce waiting periods associated with reverse loading and improve vehicle utilisation.
The platform also provides businesses and fleet operators with a single dashboard for GPS-based tracking, digital documentation and shipment monitoring, enabling greater visibility across freight movements.
Beyond freight matching, TrucksUp offers a range of services for the commercial vehicle ecosystem, including FASTag solutions, smart fuel programmes, insurance support and vehicle financing options. It also facilitates the purchase and sale of both new and pre-owned commercial vehicles.
The startup has also developed initiatives focused on improving the working conditions and safety of truck drivers. These include safety programmes, health check-up camps and its “Apna Ghar” network, which provides safe parking and rest facilities along major transportation corridors.
TrucksUp has partnered with the National Highways Authority of India (NHAI) and Indian Highways Management Company Ltd (IHMCL) to facilitate real-time driver feedback and road-related updates.
The company has further entered into a strategic alliance aimed at providing vehicle financing and access to capital for transporters and fleet owners in Tier 2 and Tier 3 cities, expanding financial access within India’s road transportation ecosystem.
The latest fundraise comes as investors continue to show interest in AI-led logistics and freight technology. Recently, FreightFox raised Rs 5 crore in a pre-Series A round led by HighLeaf to expand its platform and market reach, while Mojro Technologies raised $5.5 million in Series A funding to accelerate product innovation and international expansion.
With the latest capital infusion, TrucksUp is looking to deepen its technology capabilities and fleet-focused offerings while building a more connected and efficient freight ecosystem for India’s trucking industry.
By: Arushi Agarwal
