Kenya- based digital trucking logistics startup Amitruck secured Ksh.454 million in a seed funding round with investors participation from Africa, Asia, Europe, the Middle East and the United States.
Amitruck aims to use the funds to lead the its expansion across Africa and to hire teams across its technical, operations and sales units, including senior leadership.
It links shippers with transporters operating truck, vans, tuktuk, pickups and motorbikes allowing them to negotiate the transport charges and terminate middlemen.
The platform also enables clients to have options in the services offered, like offloading costs and all the goods transported are insured.
“We are thrilled about the positive response that Amitruck has received from cargo owners and transporters alike. Transport touches on almost every sector of the Africa economy and is crucial to its development, we look forward to expanding our footprint across africa and bringing more carriers and shippers to our marketplace since the important purpose of this round is hiring,” said Amitrack Chief Executive Mark Mwangi.
The fundraiser which was led by Better Tomorrow Ventures (BTV) a San Francisco-based venture capital firm, eyes market dominance in the African trucking and logistics market.
Launched in 2019, the firm has since worked with Unilever, DHL, L’Oréal, SkyGarden and Twiga, among others and says it has over 8,000 vehicles registered on its platform.
The company’s revenue escalated 1,000 percent in 2021, according to Mwangi, from 400 percent in 2020, something he attributes to the increased need to digitize supply chain processes amid the COVID-19 pandemic.