driven digital freight marketplace and logistics platform TrucksUp raises $8.2 million in funding
Sumit Vishwakarma27 Aug 2026
13:25IST
New Update
TrucksUp Solutions, an AI-driven digital freight marketplace and logistics platform has raised $8.2 million (about Rs 78.26 crore) in a growth financing round, with the funds set to be used to strengthen its technology and freight-matching operations.
Ritco Logistics, which describes TrucksUp as a step-down subsidiary, said the fresh capital will be used to strengthen core technology infrastructure, expand product engineering and data science teams, and develop the startup’s intelligent freight-matching engine.
The funding will also be used for working capital and general corporate purposes.
The Economic Times separately reported the round as being worth $8.2 million and said it valued TrucksUp at $42.3 million after the investment. Institutional investors and family offices participated alongside co-founders Sarthak Shah Elwadhi and Aviraj Singh Chadha, who increased their stakes in the startup.
Founded in Gurugram in 2022 by Sarthak Shah Elwadhi and Aviraj Singh Chadha, TrucksUp operates a technology-led freight marketplace connecting businesses looking to move goods with truck owners, fleet operators and transporters.
The startup said its platform is designed to reduce inefficiencies in India’s road freight market by making it easier for truck operators to find loads, including for return journeys.
Users can find and book loads and trucks online, track shipments in real time, manage digital documents and monitor deliveries through the platform.
TrucksUp also provides FASTag and fuel-card services, vehicle finance and insurance, GPS and telematics, as well as verification services. Its TrucksHub offering allows users to buy and sell new and used commercial vehicles.
It currently lists more than 450,000 transacting truck suppliers and more than 70,000 transacting business associates.
TrucksUp has also expanded its partnerships in highway technology and financial services.
On 10 March 2026, Indian Highways Management Company Limited, a company promoted by the National Highways Authority of India, signed an agreement with five commercial vehicle aggregation platforms, including TrucksUp.
Under the initiative, the platforms are expected to integrate the government’s Rajmargyatra service to provide commercial drivers with real-time safety alerts covering accident-prone stretches, diversions, construction zones, stray cattle and adverse weather conditions.
The agreement also allows drivers to provide feedback about toll plazas and roadside facilities and to report FASTag-related issues.
TrucksUp also entered into a partnership with Shriram Finance in 2025 aimed at improving access to financial products for transporters, fleet owners and other businesses.
The collaboration includes products such as vehicle and business loans and draws on Shriram Finance’s network across India, including its presence in Tier 2 and Tier 3 cities.
At the time of that partnership, Elwadhi said “By offering a suite of financing options tailored to transporters and fleet owners, we aim to fuel growth and sustainability for logistics businesses across India.”
The latest financing comes as investors continue to back companies using technology and AI to digitise India’s freight and supply-chain sector.
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