Tech in Africa
Innovative Kenyan logistics solution Amitruck has received investment funding from US-based Dynamo, a supply chain investor, and Plug n Play Ventures to facilitate its expansion across Africa. The amount raised has not been disclosed. This pre-seed funding round will go into expanding its startup’s reach and customer base across East Africa.
Amitruck launched in Kenya in 2019 as a trucking and logistics marketplace bringing transparency, trust, and efficiency to truckers and shippers through its mobile and web applications, sidestepping brokers, and middlemen.
Amitruck has enjoyed a successful run growing its revenues by 300% despite suffering the worst of the Covid-19 crisis. Dynamo is a sector-focused investor in both supply chain and mobility startups across the globe. They were one of the early investors in Sennder, Europe’s largest digital freight brokerage company which also acquire Europe’s Uber freight operations, raising $160 million from a valuation of over $1 billion.
In the press release, Barry Large from Dynamo Ventures expressed excitement about investing in Amitruck even pointing out the similarities between Amitruck and Sennder. Plug and Play Ventures is both a seed and early-stage venture capital firm fixated on investing in emerging growth-stage companies.
Alberto Anton, an Analyst for Plug and Play Ventures, pointed out that Amitruck brings “ efficiency and transparency” to the supply chain.
Find out more on Amitruck here
