Nigerian logistics platform Kobo360 has closed their Series A investment round.
Kobo360 is the logistics startup providing own platform connecting cargo track drivers with companies demanding logistics service to deliver stuffs, almost like Uber like service which is cargo track version.
They describes itself as “the marketplace for shippers and transporters”. Its digital logistics platform aggregates end-to-end haulage operations to help cargo owners, truck owners and drivers, as well as cargo recipients to achieve an efficient supply-chain framework.
They offer values as follows, for cargo owners and cargo track drivers.
・Optimization of delivery route with the analysis of GPS and accumulated data in their data base
・Optimization of capacity of each cargo tracks
・Monitoring drivers’ performance
・Improving Drivers’ working conditions
Additionally, they offer financing service called “Kobo Win” for drivers to purchase own cargo track.
Their Series A is likely the second biggest investment for an African tech startup in 2019 so far, next to Egyptian transportation startup Swvl‘s $42-million round.
It’s concluded $20-million Series-A funding round.
And it’s led by US multinational investment bank and financial services company, Goldman Sachs.
Also we can see the participation of the Asia Africa Investment and Consulting Pte, existing investors TLcom Capital, Y Combinator, and the International Finance Corporation.
In addition to the round, Kobo360 also said it has secured an additional $10-million in local currency working capital financing from three Nigerian commercial banks, namely FCMB, Polaris Bank and Fidelity Bank.
Kobo360’s platform aggregates a fleet of over 10,000 drivers and trucks, with operations in Nigeria, Ghana, Kenya and Togo.
The startup pointed out that it services small businesses and large enterprises that include Dangote Group, DHL, Unilever, Olam, African Industries, Flour Mills of Nigeria, and Lafarge.
By making use of Series A amount, they are planning to advance to Southern and Central Africa.
And they are expanding their service scope towards maintenance workshops in the delivery route.
Don’t take your eyes off from their further growth.
DHL released its digital retail app “AFRICA eSHOP” in April 2019, bringing more than 20 countries.
U.K. and U.S. retailers online in markets across the continent. Nigerian startup MallforAfrica is supporting their platform operation by providing white-label fulfillment service, Link Commerce, and Nigeria’s Paga and Kenya’s M-Pesa also supporting in terms of payment options.
DHL declined to comment on its competition with Jumia, but The news of DHL Africa eShop’s expansion comes one month after its rival in the Africa region, Jumia, went public.
Jumia was founded in 2012, operates consumer retail and online service verticals in 14 African countries, raising more than $200 million in an NYSE IPO. It also became the first African unicorn startup in 2016 following a $326 funding round.
E-commerce startups have captured the attention of investors looking to tap Africa’s growing consumer markets. According to McKinsey & Company's research, consumer spending on the continent to reach $2.1 trillion by 2025, with e-commerce accounting for up to 10%.
Kenyan B2B agri-tech startup Taimba, which operates a mobile-based cashless platform connecting rural smallholder farmers to urban retailers, has raised $100K in funding to strengthen its infrastructure and increase delivery logistics to cater to new markets.
Taimba sources agricultural products directly from farmers and delivers directly to informal greengrocers, schools, hospitals and restaurants within Nairobi, removing the middlemen and shrinking the agricultural value chain.
They currently has over 2,000 farmers in their portfolio, and engage with 15 farmer savings and credit cooperatives (SACCOs) selling products such as potatoes, tomatoes, cabbages and carrots on one side.
On the other side, they have more than 300 customers, and they have now secured funding in order to grow into six more markets in Nairobi.
The US$100,000 investment comes from US-based impact investor “Gray Matters Capital” under its gender lens portfolio GMC coLABS.
The funding marks the fourth investment by the impact investor in Africa, after Rwanda’s ARED, Ghana’s Redbird, and Nigeria’s SonoCare.
It has also supported Kenya’s MumsVillage and Sierra Leone’s Mosabi as part of its global digital accelerator programme GMC Calibrator, earlier this year.
Dominique Kavuisya, Taimba’s co-founder and chief executive officer (CEO) said as follws;
“This is a validation of the work which we have been doing and the impact on-ground delivering value to vendors and farmers through our mobile platform. The funding is a shot in the arm for us to strengthen our warehouse infrastructure by setting up cold storage facilities and also our delivery logistics so that we can cater to six new markets within Nairobi”.
The startup is also planning to pilot in Mombasa and Kisumu by next year and will also look at introducing new products such as fruits, nuts and eggs as part of its farm product catalogue.
Reference : Disrupt Africa
Kenyan Logistics Startup ”Sendy” got a new deal with “KAM”, the Kenya Association of Manufacturers to reduce transportation cost for Kenyan manufacturers.
Sendy is the Kenyan startup offering online logistics application connecting customers with Drivers to help deliver stuffs.
Transportation cost in Kenya is relatively high when compared to developed countries with well organized road and commercial vehicles’ network.
Under such situation in Kenya, Sendy will target manufacturers doing big load cargo deliveries countrywide.
“Part of KAM’s goal to our members is to enhance market access for products, locally and globally, and to grow exports by 33 percent by 2019. By partnering with Sendy to offer logistics education and knowledge to our members, we believe it will add value and help the members reduce their logistics costs,” KAM boss Phyllis Wakiaga said at an event held at the Nairobi Serena Hotel.
Under the deal, manufacturers can opt to use pick-ups, vans and trucks from Sendy’s platform.
Customers pay 1,500KES (15USD) for up to five kilometres covered on Sendy’s platform while a three-tonne truck costs 5,900KES (59USD), 6,500KES (65USD) for five tonnes and 7,600KES (76USD) for deliveries by a 10 -tonne truck for up to 20 kilometres.
Sendy will also train more than 200 manufacturers on how to cut down their logistics costs through the use of technology under the new deal with KAM.