KENYA – Amitruck, a startup that has developed a mobile and web-based trucking logistics platform, has raised funding from GreenTec Capital to boost its growth plans.
Amitruck matches cargo owners with trucking logistics professionals through a digital competitive bidding process, bringing trust and transparency into the 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. The startup has already seen impressive traction, and has now secured investment from GreenTec Capital to support its growth plans and further scaling.
“GreenTecCapital is very happy to announce our investment in Amitrucks an innovative Kenyan logistics platform bringing trust and transparency to the African logistics sector,” GreenTech announced on its official website.
“With a presence in Germany and in Africa, GreenTec is an ideal partner as we continue to scale our business,” said Mark Mwangi, chief executive officer (CEO) of Amitruck.
“We’re excited to have a partner on board that provides vast strategic experience in our market.”
GreenTec, which makes small investments in African tech startups but says its real value-add comes from its “company-building” model, has invested in a host of African startups, including Kenyan AI startup SuperFluid Labs, Nigerian logistics startup Parcel-it, Kenyan insurtech platform Bismart, Moroccan recruitment service KWIKS, and, most recently, Ivory Coast-based waste management startup Coliba.
The company’s senior company builder Maxime Bayen said logistics was a significant challenge in Africa, and one which was only emphasised by the ongoing COVID-19 crisis.
“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 said.
Amitruck is looking to bring trust and transparency into the US$160 billion African logistics sector. It is believed to have already demonstrated impressive traction while boasting a tightly-knit team prepared to take the company forward.
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.
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.
