Truckistan Technologies, the Pakistan-based tech-enabled less-than-truckload (LTL) company, has on Tuesday announced its successful seed fundraising round.

Truckistan Technologies said in a statement that the final amount is nearly $1 million with some late-stage participants yet to finalize their commitments.

According to the statement, the funding round has garnered support from an impressive roster of investors including Reflect Ventures, Orbit Startups (SOSV), Mentor’s Fund, Sarmayacar, Loyal VC, SAI ventures, Five Rivers Ventures and many distinguished angels (Carlos Cashman, Siddhartha Kongara, Amir Husain, Syed Sheharyar Ali, Abbas Yousafzai, Umair Khan, Yasser Bashir, Ali Zain, Arslan Choudhry, Javad Mushtaq and Sheharyar Ahmed).

“Our technological advantage has allowed us to establish a significant cost benefit over competitors and enabled us to offer a better service to our customers. This round of investment will further fuel our growth and refine our services,” said Abid Butt, Chief Executive Officer of Truckistan Technologies.

Truckistan Technologies is a tech enabled LTL company with current operations based in Pakistan.

The company is co-founded Abid Butt and Zafar Khan, both industry veterans with over 25 years of experience in logistics and technology and a few exits under their belt.

LTL shipping takes place when business to business (B2B) shippers want to ship goods by truck, but don’t have enough cargo to fill a full truckload.

Truckistan Technologies has been operational since the start of the year and already boasts some of the top fashion retailers, pharmaceuticals, fast-moving consumer goods (FMCGs) and last mile logistics companies as its clientele.

The company’s mission is to reduce the inefficiencies existing in the LTL sector while improving the service quality and carbon footprint for its customers.

Truckay Technologies, the Holdco and the software as a service (SAAS) arm of the group, provides tech solutions to international and local companies engaged in multiple deliveries per truck (including LTL operators, B2B retail servicing companies and the like).

“Truckistan Technologies team has never failed to surprise us by performing better time and time again,

“We are strong believers in the Pakistani opportunity and are excited to back amazing entrepreneurs like Abid and Zafar who are building scalable global solutions”, said Michel Friedman, Founding Partner at Reflect Ventures.

Mentors Fund General Partner Umair Khan said that Truckistan Technologies is a rare combination of a strong team, sizable market opportunity, and a business model validated by early traction, that all early stage investors seek.

“By focusing on the LTL (less than truckload) segment with its higher gross margins, Truckistan has the potential to scale in a highly capital efficient way,

“Mentors Fund is therefore excited to back Truckistan and join hands with a celebrated tech entrepreneur in Zafar Khan and an accomplished logistics veteran in Abid Butt,” he said.

Pakistan learning platform startup Maqsad raises $2.8M in seed round