ADQ, STV back Uber-like service for trucks

TruKKer, a company based in Saudi Arabia that provides Uber-like services for trucks in the Middle East and internationally, announced on Monday that it had raised just under $100 million in a Series B equity and debt fundraising round.

The fund was led by Abu Dhabi state holding company ADQ and Riyadh-based Saudi Technology Ventures, with participation from the Abu Dhabi state fund Mubadala Investment Company (MUDEV.UL) and other existing investors.

TruKKer also announced that it has raised $50 million in venture loans from Mars Growth, a joint venture firm between Liquidity Group and Mitsubishi Group (MUFG), as well as Partners for Growth in San Francisco.

TruKKer advertises itself as an online marketplace that links logistics service providers with consumers and enterprises. With a network of over 40,000 trucks, the corporation works throughout the Middle East, North Africa, and Central Asia.