Step on it

Less Funds, More Drive: A Tough 2021 For African Trucking Startups?

By  |  April 27, 2021

The hamstring spellcast by the novel pandemic in 2020 could have slowed down African trucking startups. But, with millions of dollars in the bank from the previous, more impressive year, steering clear from much trouble could have been easier.

To repeat context, 2019 was a better funding year for African trucking startups. These tech-enabled logistics firms attracted multimillion-dollar interests from both international and Africa-focused investors in that year.

Kobo360 inked a USD 30 Mn in a Goldman Sachs-led Series A and Lori Systems landed another USD 30 Mn in a Chinese VC-dominated Series A. Both of these companies also expanded into each other's home market.

Most Read

From Bootstraps To Breakthroughs: Unravelling South Africa’s Startup Secrets

The startup ecosystem in South Africa is a buoyant and dynamic industry propelled

Moniepoint Is Stepping Up Its Global Ambitions As UK Plans Take Shape

Moniepoint Inc., the parent company of one of the largest business payments and

Tracing The Rapid Rise Of E-Mobility in Kenya

The global automotive industry has shifted significantly towards electric vehicles (EVs) in recent