SENEGAL – Logidoo, an online platform that provides logistics, transportation, delivery of goods, and shipping services, has announced that it raised US$1.55 million in seed fund to scale and increase its market share.
The investment was led by a consortium of venture capitalists, including Maroc Numeric Fund II (Morocco), 216 Capital (Tunisia), Gullit VC (Mauritius), Founders Factory Africa (Nigeria), Sunny Side Venture Partners (Egypt/Japan) and Kalys Ventures (Morocco).
The new funding also underscores its interest in solving the relatively low intra-trade in Africa compared to regions like Asia and the EU.
Logidoo, founded in 2019 by Tamsir Ousmane Traore, is an online platform that offers logistics services and real-time parcel tracking. It has also introduced more executive roles to the team, like the CFO and COO.
It aims to connect African markets through intelligent logistics, creating trade corridors between African countries by providing comprehensive logistical solutions.
Logidoo specialises in cross-border end-to-end 5PL logistics and aims to realise the African Continental Free Trade Area (AFCFTA) goal. 5PL (fifth-party logistics) is a recent and more advanced logistics provider system that looks beyond individual supply chains to wider supply networks.
The startup raised a US$200,000 seed from Kalys Ventures and Launch Africa in March 2022, and earlier in December 2021, it secured an undisclosed amount from the International Trade Centre.
Logidoo recently announced the launch of a new subsidiary in Tunisia where according to Logidoo, the launch will go a long way towards connecting Tunisia and West Africa, establishing a link in African markets. Benefits of the new subsidiary include reduced transport times, cost optimisation, and improved supply chains.
Operating from Senegal, Morocco, Ivory Coast, and Tunisia, Logidoo is leading a revolution in the African logistics sector through its extensive digital platform, which spans the full logistics value chain. By integrating stakeholders from both the formal and informal sectors, Logidoo ensures broad market coverage, including transportation and cash management services.
With gratitude towards both its longstanding and recent investors (UM6P Ventures, Haské Ventures, Launch Africa, Rachid Salik), Logidoo is poised to become a pivotal platform for fostering inter-African trade, significantly enhancing the volume of transactions across its logistical networks.
Logidoo has demonstrated remarkable traction and operational efficiency. To date, the company has aggregated over 3,000 logistics suppliers, completed more than 100,000 operations, served over 400 clients, and has a presence in 8 countries across the continent.
Achieving EBITDA positive status since January 2023 further illustrates Logidoo’s financial health and business acumen, distinguishing it from other cash-burning logistics startups.
In 2023, Logidoo embarked on an ambitious expansion plan, extending its franchise network to 5 African countries. This strategy, supported by the latest funding, aims to solidify Logidoo’s footprint across the continent.
Adding to this momentum is introducing experienced executives to the team, including key positions like CFO and COO, enhancing executive leadership.
The founder, Tamsir Ousmane Traoré, with his extensive background in logistics, including teaching logistics and serving as the Chairman of the logistics commission within the Senegal Private Sector Association, boasting 10 years of industry expertise, and Mohamed Alaoui, a 3PL and courier specialist with over 20 years of experience in Morocco and the sub-region, embody the perfect founder-market fit, further instilling confidence in our direction and strategy.
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