Funding · Mobility & Logistics

TrucksUp raises $8.2 million in growth funding

By Startup Enthusiast · 27 August 2026

Date: 27 August 2026
Company: TrucksUp
What it does: AI-driven digital freight marketplace
Kind: Funding
Amount: $8.2M
Stage: growth
Based in: Gurugram
Founded: 2022
Sector: Mobility & Logistics

What they do

TrucksUp operates an AI-powered digital freight marketplace that connects truck owners and fleet operators with businesses requiring logistics services…

What happened

The company secured $8.2 million in a growth funding round from institutional investors and family offices, with founders increasing their stake

Why it matters

The startup plans to use the capital to enhance its freight-matching algorithms, expand its engineering team, and strengthen its core logistics platform

The details

TrucksUp successfully raised $8.2 million in a new growth funding round.
The investment round included participation from various institutional investors and family offices.
Co-founders Sarthak Shah Elwadhi and Aviraj Singh Chadha increased their personal stake in the company during this round.
The company achieved a post-money valuation of $42.3 million following the transaction.
Actor Ajay Devgn was recently onboarded as the brand ambassador for the platform.
The startup is a step-down subsidiary of Ritco Logistics.

The bigger picture

The Indian trucking industry remains highly fragmented and traditionally relies on manual phone calls and informal broker networks.
TrucksUp aims to modernize this sector by replacing manual processes with digital, AI-enabled matching systems.
The company has integrated its services with government initiatives like Rajmargyatra to provide real-time road updates and driver feedback.

About the business

The platform connects truck owners, fleet operators, and drivers with businesses that need to move freight.
Its AI-enabled algorithms match available trucks with verified loads in real time to minimize wait times for return trips.
The dashboard provides tools for GPS tracking, digital document management, and shipment monitoring.
The company offers financial and operational support, including FASTag solutions, smart fuel programs, and vehicle financing.
Through TrucksHub, the platform facilitates the buying and selling of new and pre-owned commercial vehicles.
It maintains the Apna Ghar network to provide safe parking and rest facilities for drivers along major corridors.
The platform lists over 450,000 transacting truck suppliers and 70,000 business associates.

What happens next

The company will scale its technology and fleet solutions.
Funds will be used to improve freight-matching capabilities.
The startup intends to expand its product engineering and data science teams.
Capital will support working capital requirements.

The deal

Type: funding

Investors

Institutional investors (participated) — Various institutional firms participated in the growth round.
Family offices (participated) — Private family investment offices contributed to the funding.

Founders

Sarthak Shah Elwadhi, Co-founder
Aviraj Singh Chadha, Co-founder

About TrucksUp

Product: Digital platform matching available trucks with verified loads in real-time using AI-enabled algorithms
Customers: Businesses requiring freight movement and truck owners, fleet operators, and drivers
How it makes money: Commission-based marketplace taking fees on freight transactions; dashboard and tracking services
What sets it apart: AI matching reduces reverse-loading wait times; offers single dashboard for GPS tracking, digital documents and monitoring
Operations: Operating as step-down subsidiary of Ritco Logistics; active in logistics and freight management

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