🌍Hello Africa!!
How's the new week going?
👍Our startup for the day is a tech-enabled startup that is actively solving the inefficiencies in Africa's supply chain.
💯What is Kobo360?
Kobo360 is a logistics company that was founded in 2018. The company provides a platform that connects manufacturers and cargo owners with truck operators, to move their goods seamlessly across the continent.
📈Since inception, the focus had been to accelerate economic development and sustainable growth in Africa.
The company offers a streamlined delivery process of raw materials from ports to the manufacturer and finished goods from the manufacturer to the last-mile customer.
How's it Done??
Kobo360 uses data analytics and artificial intelligence to reduce these inefficiencies.
In the process, they provide transparency and visibility, reduce communication gaps within the entire ecosystem, optimize pick-ups and deliveries, and improve routes in real-time.
There's more...
The company uses predictive analysis and gives businesses valuable insights and enables them to make informed decisions, thereby enhancing productivity and improving customer experience.
💥Let's talk about the numbers
🇧🇯The company has a physical presence in 7 African countries; Nigeria, Benin, Ghana, Uganda, Kenya, Côte d'Ivoire, Burkina Faso.
🚚They power their services by over 50,000 truck owners.
⚖️So far, they have moved over 9 billion kilograms of goods, and in the process, creating over 150,000 jobs.
The company has, since 2018, served over 700 enterprises.
Headquartered in Lagos, Nigeria, Kobo360 was founded by Obi Ozor and Ife Oyedele II.
In August, 2023, though, Cikü Mugambi, was announced as the new CEO, as Obi Ozor stepped aside following his political appointment.
✨Achievements
In 2019 the company was nominated as a Disrupter of the Year finalist at the Africa CEO Forum Awards.
In 2022, the company was adjudged the best E-Logistics Platform at The Digital Tech Awards.
In March 2023, Kobo360 was listed among the "25 Rising African Tech Startups To Watch Out For In 2023" by African Folder.
Now...
Funding and Investments❤️
Kobo360 raised $20 million in a Series A round headed by Goldman Sachs in 2019 and $10 million in working capital funding from Nigerian commercial banks.
Kobo360 raised an additional $56 million in its series B round led by African Export-Import Bank (Afreximbank)'s equity arm - The Fund For Export Development in Africa (FEDA), with participation from existing investors.
That'd be all for today.
We'll be here tomorrow ✨
Till then,
It's AfriRadar 🥂
