African logistics startup Lori Systems raises Series A led by Chinese investors

African logistics startup Lori Systems raises Series A led by Chinese investors

African on-demand trucking logistics company Lori Systems has raised a Series A round led by Chinese investors Hillhouse Capital and Crystal Stream Capital. Other participating investors included Nigeria and U.S. based EchoVC, Flexport CEO Ryan Peterson, and Nigerian founder Iyinoluwa Aboyeji. Lori Systems is not disclosing the amount of the Read more…

Ampersand Africa e motorcycle

Africa Roundup: Goldman backs Kobo360, Rwanda commits to EVs, Interswitch IPO update

Nigerian freight logistics startup Kobo360 raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks. The company — with an Uber-like app that connects truckers and companies to delivery services — will use the funds to upgrade its platform and expand to Read more…

Obi Ozor Ife Oyedele II Kobo360 Co Founders Office Shot

Nigerian logistics startup Kobo360 raises $30M backed by Goldman Sachs

Nigerian freight logistics startup Kobo360 has raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks. The company — with an Uber -like app that connects truckers and companies to delivery services — will use the funds to Read more…

Y Combinator-backed Trella brings transparency to Egypt’s trucking and shipping industry

Y Combinator-backed Trella brings transparency to Egypt’s trucking and shipping industry

Y Combinator has become one of the key ways that startups from emerging markets get the attention of American investors. And arguably no clutch of companies has benefitted more from Y Combinator’s attention than startups from emerging markets tackling the the logistics market. On the heels of the success the Read more…

Africa’s ride-hail markets are hot spots for startups and VC

Africa’s ride-hail markets are hot spots for startups and VC

When it comes to VC, vehicles, and startups, Africa’s ride-hail markets are becoming a multi-wheeled and global affair. The big players such as Uber and Bolt are competing in Kampala and Nairobi—where in addition to car-service—they offer rickshaw taxis. On-demand motorcycle startups are multiplying and piloting EVs with funds from international partners. And Read more…