Kenya-based digital trucking logistics startup Amitruck has secured $4 million (Sh425 million) in a seed funding round for expansion in the continent.
The funding campaign attracted investors from across the globe.
The trucking and logistics marketplace which was founded in 2019 aims to expedite direct interaction between consumers and transporters in Africa.
The fundraising was led by Better Tomorrow Ventures (BTV), a San Francisco-based venture capital firm that targets early-stage startups.
Amitruck’s chief executive officer and founder, Mark Mwangi, said the funding will be used to lead the startup’s expansion across Africa and to hire teams across its technical, operations, and sales units, including senior leadership.
“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 African economy and is crucial to its development,” Mwangi said.
He added that the firm is looking forward to expanding its footprint across Africa and bringing more carriers and shippers to the marketplace.
BTV’s General Partner Jake Gibson said Amitruck was selected for investment due to its high level of innovation and a growing need for its services.
The logistics company allows its clients to connect directly with transporters eliminating the cost-prohibitive middlemen.
The vehicles and drivers on the platform are keenly vetted and the customers' goods are insured against loss or damage.
The company is targetting to dominate the continent's trucking and logistics market, which accounts for almost 80 per cent of transported goods.
