Pakistan, right now, a hotbed for logistics startups, has been on our radar for a long time. Investments were pouring in, and there was innovation thriving remarkably. It was time that we actualized our goals and set our foot on the flourishing marketplace. In the first half of 2021, Pakistani startups raked in $120 million – among which 20 were worth more than $1 million. Apart from these booming economic conditions, McKinsey also reports a four-fold increase in 3G/4G connections, citing a high level of connectivity. Plus, the country’s middle class is on a steep rise with more spending power. Together, it’s the right ground for disruption and change.
But the trucking sector, despite being the first choice of freight transportation, still lacks modernization. Shockingly, the $25 billion road freight industry is still kept from reaching its full potential by manual and outdated systems. Traditional broker practices and spot markets have worsened the situation, forcing the shippers and drivers to rely on phone calls. The Pakistani trucking industry operates in small pockets and hence remains largely unorganized and siloed. Standardization of ownership and operational policies is also non-existent. As a result, the drivers bear the brunt of this disjointed sector and suffer from loss of business.
Our market learnings and best practices have let us experience the firsthand impacts of “platformization.” And how it can “uberize” the trucking world, making trucking as easy as booking a cab online. TruckSher was already leading that space with its new-age technology stack and a set of holistic freight solutions. And now, as they join forces with us, we’re going to change the scenes for the better. Together, we’re going to add more momentum to what was already underway and redefine seamless land freight transportation for Pakistan.
TruKKer’s one-stop-shop logistics platform has remarkable features that make freight handling and transportation tension-free. Acting as an online marketplace, it directly connects the shippers with the available transporters. Thousands of loads are listed daily, promising the drivers constant hauls with fair remuneration along with designated work hours.
Behind the scenes, our AI-powered proprietary auto-indenting comes to life and ensures the most effective matches on demand. Right from source to destination, shippers and transporters never miss a beat. Our track-and-trace capabilities offer live updates at every instance of the journey. Plus, our users enjoy unfettered access to a dynamic ETA that helps them take corrective actions in case of any misadventure. What’s more, is our futuristic analytical capabilities. Using advanced data science techniques, the platform prescribes the best options and visualizes performance data. Users can easily standardize or benchmark their performance and ensure logistical success every time.
The local domain expertise of TruckSher, along with TruKKer’s state-of-the-art innovations, has the poise to become the new engine of Pakistan’s logistics. We’re super excited to tap on such a market that’s ripe for disruption, and we have got the right tools and playbook to do so.
The key differentiation in TruKKer’s approach will be our focus on business fundamentals and not just blitz scaling at any cost. An emerging economy like Pakistan, or most other frontier markets, can easily consume disproportionate amounts of cash. Sadly, this will never create long-term shareholder value or contribute to the upgrade of the ecosystem. We do not want to acquire revenue by under-pricing or compete on our ability to throw cash for market share. It is easy but does not result in LTV in an enterprise business like logistics. Enterprise clients do not necessarily want the cheapest and most value having sustainable suppliers as partners. TruKKer has been very balanced in this approach, disciplined in its execution while using its financial firepower to create intrinsic value, rather than reporting numbers and metrics that can only fuel investor excitement for the next round of fundraising. Most investors who cannot see through this or dig enough to understand this are usually for a short ride until they exit.