KARACHI: Truck It In, a Karachi-based marketplace providing online trucking solutions, on Tuesday announced a $3 million extension to close the “largest pre-seed round for the world trucking industry” at $4.5 million.
The extended round was led by Global Founders Capital (GFC) and Fatima Gobi Ventures (FGVs), joined by Germany-based Picus Capital, an early-stage technology investment firm, and a Pakistani firm, Zayn Capital. Previous pre-seed investors included Deosai Ventures, Zayn Capital and +92 Ventures.
Truck It In, which connects shippers and truckers online, has achieved the feat in just over four months since its inception.
“We have extended the round considerably and this is now the largest pre-seed round for this industry in the world,” Raza Afzal, the co-founder of Truck It In, told Arab News.
The startup has partnered with strategic investors that are helping it tap into their local supply chains and leverage their regional connections for the next growth phase.
“We have been blessed to be joined by top regional and international strategic investors, who have experience of building similar companies, have strong financial muscle, and are leading supply chain heavy conglomerates in Pakistan,” Afzal said.
The startup is providing solutions to supply chain challenges faced by Pakistani businesses and helping them save up on operational costs.
“We’re at the very early stages of transforming a critical industry and aim to help over 3 million businesses save $1 billion annually in supply chain inefficiencies,” Muhammad Sarmad Farooq, the chief executive officer and co-founder of Truck It In, said in a statement on Tuesday.
“Our long-term aim is to streamline and digitize the logistics sector to create a ripple effect across the economy.”
The company says fresh funds will be utilized to expand its services and product features that will help it reach the next level.
“In only a few months since launch, we have seen an overwhelming market response to Truck It In’s offering,” said Tito Costa, a partner at Global Founders Capital.
In recent months, Pakistan’s startup landscape has witnessed a huge rush of investment, mainly coming from global fund providers.
Around $200 million have been invested in Pakistani startups in 2021 and the amount is expected to cross over $300 million by the end of the year as these ventures continue to gain global attention, according to various capital fund observers.
Pakistani startup bags largest pre-seed round for trucking industry in the world, founder says
https://arab.news/6znn9
Pakistani startup bags largest pre-seed round for trucking industry in the world, founder says
- Truck It In announces $3 million extension to close the round at $4.5 million in just over 4 months
- Pakistani startups look poised to attract around $300 million investment by the end of current year
Government says Pakistan’s IT exports hit record monthly high in December
- Finance adviser says IT exports crossed $400 million for first time in a month
- Pakistan aims to double exports to $60 billion in four years, with IT a key driver
ISLAMABAD: Pakistan’s information technology exports climbed to a record $437 million in December, crossing the $400 million mark for the first time on a monthly basis, the government’s finance adviser Khurram Schehzad said in a social media post on Monday.
The surge underscores the growing role of the tech sector as Pakistan seeks to boost exports while emerging from a prolonged economic crisis that drained foreign exchange reserves, widened balance-of-payments pressures and weakened the currency.
The government is now aiming for export-led growth as part of broader structural reforms under a $7 billion International Monetary Fund (IMF) loan program.
“December 2025 exports reached $437 million — crossing $400 million in a month for the first time ever,” Schehzad said in a post on X, adding that this represented 23 percent month-on-month growth from November and 26 percent year-on-year growth compared with December 2024.
For the first half of the current fiscal year, IT exports reached $2.24 billion, up 20 percent from a year earlier, making the sector the largest and most consistent contributor within services exports, he said.
Pakistan has been under pressure to sharply lift exports as it works to stabilize its economy.
Earlier this month, Planning Minister Ahsan Iqbal said the country must double its exports to $60 billion within four years or risk returning to the IMF.
Pakistan’s IT exports have been on a steady upward trajectory in recent years. They reached a record $3.8 billion in the 2024–25 financial year, according to official data.
The momentum has carried into the current fiscal year, with IT exports posting 19 percent year-on-year growth during the first five months from July to November.
Exports during the period stood at $1.8 billion, according to data released by the State Bank of Pakistan.
The government has said it sees the technology sector as a key driver of foreign exchange earnings and job creation as Pakistan seeks to lock in recent macroeconomic gains and attract new investment.
