Trella, the Egyptian trucking marketplace that connects shippers with carriers, today announced that it has acquired Trukto to create what it describes as the country’s largest technology-enabled trucking and logistics platform.
Founded in 2017 by Ahmed Khedr and Ali Khadr as Egypt’s first technology-enabled trucking marketplace, Trukto built a diverse portfolio of shippers across the agriculture, consumer goods, cement, and logistics sectors.
“We are extremely proud of our team at Trukto who pioneered the trucking marketplace model in Egypt arranging over 20,000 loads in two short years. We are excited about merging with Trella to execute on our shared vision,” says Khedr.
As part of the mechanics and dynamics of the acquisition, Trukto co-founder, Ahmed Khedr, will oversee the transition and remain a significant shareholder of the combined company.
Also, Trukto co-founder, Ali Khadr, will join Trella as Head of Growth initially leading the company’s ports business. In addition, Trukto investor and board member, Ahmed Fattouh, will become a board member of Trella.
“We are very excited to welcome Truckto’s customers, employees and shareholders to Trella. The combination of Truckto’s complementary product offering and our core tech-based marketplace will strengthen our ability to transform the industry and create more value to our stakeholders,“ says Omar Hagrass, Trella co-founder/CEO.
Trella is a B2B technology platform and trucking marketplace that connects shippers with carriers. The company’s mission is to reduce the cost of moving goods throughout the Middle East and Africa by improving efficiency throughout the entire logistics supply chain.
Trella empowers carriers and intelligently moves freight to create economic opportunities in the logistics industry while offering shippers reliable and affordable cargo transport services.
Trella was selected to participate in the S19 batch of Silicon Valley-based accelerator, Y Combinator, and is backed by investors such as Algebra Ventures, NextBillion Ventures and angel investors, Esther Dyson and Jambu Palaniappan.
With the acquisition of Trukto, Trella is looking to leverage Trukto’s established infrastructure, human capital, and network of truckers and shippers to accelerate its growth strategy in the Middle East North Africa (MENA) region.
The coming together of both companies will see up to 10,000 truckers team up upon the completion of operational and network integration.
According to Crunchbase, Trella has raised a total of USD 750 K in funding over 2 rounds. Their most recent funding was a USD 600 K pre-seed led by Algebra Ventures in February 2019.