Business

Kenya’s Amitruck Raises $4 Million in Seed Funding

Kenyan tech-enabled logistics platform, Amitruck, has raised $4 million in seed funding, bringing the total funds raised to date to $5 million.

Investors who took part in the funding round include Better Tomorrow Ventures (BTV), Dynamo Ventures, Rackhouse Venture Capital, Flexport Inc, Knuru Capital, Launch Africa Ventures, Uncovered Fund, and a number of angel investors.

The company says it will use the funding to strengthen its technical, operations and sales team to lay ground for its entry into Tanzania and Uganda markets

Launched in 2019,as a digital logistics marketplace, Amitruck connects shippers with transporters operating trucks, vans, tuk-tuks (three-wheelers), pick-ups and motorbikes.

Some of Amitruck’s over 300 B2B customers in Kenya include FMCG firm Unilever, L’Oreal; a beauty company, SkyGarden; an e-commerce platform and Twiga; a fresh produce marketplace.

Amitruck has over 8,000 vehicles registered on its platform, with the company’s revenue growing 1,000% in 2021 from 400% in the previous year, as COVID-19 made apparent the need to digitize supply chain processes.

See Also:

Norrsken, VCs & 30 Unicorn Founders set up $200 Million Fund for Startups in Africa

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