Amitruck, a Kenyan tech-enabled logistics platform, is set to strengthen its technical, operations, and sales team to lay the ground for its entry into Tanzania and Uganda markets, after raising $4 million in seed funding bringing the total funds raised to date to $5 million.
The seed round was led by Better Tomorrow Ventures (BTV), with the participation of Dynamo Ventures, Rackhouse Venture Capital, Flexport Inc, Knuru Capital, Launch Africa Ventures, Uncovered Fund, and a number of angel investors.
The expansion plans come as it looks to be the regional go-to platform for shippers and transporters doing in-country and cross-border business.
Amitruck was launched in 2019, as a digital logistics marketplace that connects shippers with transporters operating trucks, vans, tuk-tuks (three-wheelers), pick-ups, and motorbikes, allowing them to negotiate the rates of haulage. The platform also lets shippers customize services, for example, to add off-loading charges. The platform includes a transporter’s rating and the mean number of trips made, data that helps shippers narrow down their choices. The process begins once both parties reach an agreement.
“The most important purpose of this round is hiring. We are also improving our technology as we start our expansion into other countries in Africa,” Amitruck founder and chief executive officer Mark Mwangi told journalists.
“As an investor in a unicorn CloudTruck startup here in the US, we have in-depth knowledge of the operational and financial requirements from truckers.” BTV’s general partner Jake Gibson stated.
“While the trucking and logistic business in Africa has grown tremendously over the years, the pace of innovation particularly in its administration has been slow. Amitruck’s solution is ideal for bringing the industry into the 21st century.”
