Saudi tech firm TruKKer ventures into freight forwarding with new company Omnilog
TruKKer launches standalone freight forwarding company in diversification push
Dubai: The Saudi tech firm TruKKer is getting into a new space - freight forwarding - that it feels will be a good fit for its core operations. The entity, called 'Omnilog', will be an integrated freight forwarding company.
Omnilog plans to 'connect major trade lanes' in Asia, Europe, and the Americas. It will build on TruKKer's already well-established client base, spanning more than 1,200 enterprises in the MENA markets. (TruKKer currently operates in 10 markets.)
It also marks TruKKer's expansion beyond land-based logistics solutions to going multi-modal, with air and sea freight being offered by Omnilog. The services are live in the UAE, Saudi Arabia, and Turkey with plans for wider regional expansion.
"Following our success with land freight, it is imminent that we focus on more consolidated services for our clients," said Gaurav Biswas, founder and CEO of TruKKer, which has been quite successful in the last four years in tapping private equity funding for its expansion program.
TruKKer investors include IFC, Abu Dhabi's Mubadala and ADQ, STV and, recently, Investcorp.
The core TruKKer business model is quite straight forward - allow entities to book free cargo space on trucks plying some of the busiest inter-GCC and inter-Middle East land routes. The company does not directly own the trucking fleets, but through its app connects these operators with those who need space onboard. This way, it reduces the chances of trucks having plenty of unused capacity on return trips.
Logical progression
The launch of Omnilog thus extends on what TruKKer has built up, whether it's the client base or the technology to operate a seamless service. "Beyond our established land freight capacities, Omnilog marks a dynamic expansion," said Muataz Alsafi, CDO at TruKKer. "This strategic evolution enhances our connectivity between the East and MENA regions, elevating our network to assume new responsibilities and become innately flexible.”
More to follow...