TRUXX has appointed Mintiply Capital to lead series A funding
(Dubai, July 16, 2024) – Mintiply Capital, a Middle Eastern financial services company, announced plans to steer the Series A fundraising for TRUXX, a tech company aiming to fill the gap between supply and demand in the regional transportation market. The move signals Mintiply Capital’s continued focus on fostering innovation and empowering promising startups like TRUXX.
TRUXX: A Transportation Tech Powerhouse in the Making
TRUXX is an innovative tech company streamlining transportation operations. Their user-friendly TRUXX App and data-rich dashboards position them as a truck aggregator and fleet optimization solution for B2B and B2B2C markets. They facilitate the efficient movement of vehicles, goods, and materials by using advanced algorithms to determine trip rates and optimize fuel-efficient routes for trucks.
TRUXX Impressive Trajectory
TRUXX has carved a niche for itself in the local tech landscape. Notably, the company:
- Became the first mover in its space within the Middle East and South Africa (MENA) region, emerged as a leading Abu Dhabi startup with Emirati founders.
- Caters to both B2B and B2C segments, offering subscription-based tech solutions.
- Operates ~1000 trucks under its TRUXX app operations, making it one of the fastest growing aggregators in the MENA region.
- Secured a coveted spot among the top 10 business ideas at the prestigious London Business School’s Entrepreneurship Edge program (summer 2022).
- Achieved an impressive 5,000 downloads within just two months of launching its app, reached the top 40 top chart apps within the Apple App Store in just three weeks of its launch.
- Set its sights on ambitious expansion plans across the GCC and MENA and Latin America.
- Recently launched a Home Movers Marketplace service, with additional services planned for future release.
A Strategic Alliance for Disruption
Mintiply Capital brings a proven track record to the table, boasting successful restructurings and funding acquisitions for multiple startups, including Tabby, Fetchr, and Yap. With a staggering $3.2 billion in assets under management (AUM) and a hefty $480 million secured in total funds. Their 32+ years of experience and extensive clientele (over 56) make them a trusted partner for high-growth businesses
Mintiply Capital’s financial prowess and restructuring capabilities is expected to empower TRUXX to prepare for a successful Series A funding round. TRUXX’s innovative solutions and impressive traction within the transportation sector align perfectly with Mintiply Capital’s commitment to supporting disruptive startups.