Gurgaon-based logistics services provider TrucksFirst Services Pvt Ltd has raised Rs 61.8 crore in Series-A funding from SAIF partners. This made the startup as one of the few truck transportation businesses to be venture capital funded in India. The investment will be used to strengthen technology, backend and hiring
According to the ministry of corporate affairs, TrucksFirst Services raised the amount from SAIF Partners India on April 14, 2015. Other investors in TrucksFirst include Singapore Post, McKinsey travel, transport and logistics director Thomas Netzer.
TruckFirst was founded in 2014 by IIT Kanpur alumnus and former McKinsey Consultant Deepak Garg and Gazal Kalra, a Stanford and Harvard school graduate. Both the Founders were collegue at McKinsey.
The startup is offers logistics services meant for clients who need hassle free, reliable, professional and super-express logistics services. By using simple processes, advanced technology, trained and professional staff, it help its clients manage long haul logistics seamlessly.
Essentially, the startup coordinates delivery trucks going between different cities, using technology and innovative operational processes. It aims to significantly improve the truck driver ecosystem and operational efficiencies while doing so.
The startup claims to offer best delivery times on long haul routes, second only to delivery through air-routes.
Startups working in similar domain like Delhivery has already raised $85 million in its Series D round of funding led by Tiger Global with participation from existing investors while Mumbai-based LogiNext Solutions raised an undisclosed amount in its seed round of funding from Ajit Surana and Sanjay Mehta of Indian Angel Network.