A 1-Year-Old Kenyan Logistics Startup Has Just Secured Funding From GreenTec Capital
Kenyan logistics startup, Amitruck, has secured an undisclosed amount of funding from GreenTec Capital.
Amitruck was co-founded by brothers, Mark and Timothy Mwangi in January 2019 as a vehicle-hailing company which connects traders to trucks, pick-ups, and motorcycles for goods delivery.
The startup describes itself as “an innovative mobile and web-based trucking logistics platform that brings together cargo owners and transporters for their mutual benefit.”
By matching cargo owners with trucking logistics professionals through a digital competitive bidding process, Amitruck is looking to bring trust and transparency into the USD 160 Bn African logistics sector.
Amitruck’s solution cuts out expensive middlemen whilst increasing security as all drivers and vehicles are vetted and goods in transit insured.
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As of 2019, Amitruck claimed to connect traders to over 500 registered transport service providers who move their goods to different locations, as well as up to 200 fleet owners on the platform.
@GreenTecCapital is very happy to announce our investment in @amitrucks an innovative Kenyan logistics platform bringing trust and transparency to the African logistics sector. Read more: https://t.co/yGljOnj731 pic.twitter.com/bBJmRFyvBi
— GreenTec Capital (@GreenTecCapital) April 7, 2020
The investment from GreenTec Capital is expected to boost the startup’s efforts at gaining a foothold in the East African market where the likes of Lori Systems and Sendy (two well-funded logistics startups) are already making headway.
Commenting on GreenTec’s investment, Amitruck’s CEO, Mark, said,
“With a presence in Germany and in Africa, Greentec is an ideal partner as we continue to scale our business. We’re excited to have a partner on board that provides vast strategic experience in our market.”
Amitruck is believed to have already demonstrated impressive traction while boasting a tightly-knit team prepared to take the company forward. And as per a post on its official website, GreenTec will be working closely with Amitruck to support the company’s growth plans and further scaling.
“Logistics is a significant challenge in Africa and the current crisis is only making this more obvious,” said Maxime Bayen, Senior Company Builder at GreenTec.
“Amitruck’s solution has the potential to tackle the fragmentation and lack of trust in the sector while enabling capacity growth by increasing driver and truck owner accessibility to the broader market. We are extremely proud to be kicking off this long-term collaboration with Amitruck’s team,” he added.
