KENYAN TECH LOGISTIC STARTUP ARMITRUCK RAISES 454 MILLION TO EXPAND ACROSS EAST AFRICA

Kenyan tech-enabled logistics start-up Amitruck has announced that it has secured Ksh.454 million ($4,000,000) seed funding as it seeks to enter the Tanzanian and Ugandan markets.

The round was led by California-based Better Tomorrow Ventures (BTV) and saw the participation of Dynamo Ventures, Rackhouse Venture Capital, Flexport Inc, Knuru Capital, Launch Africa Ventures, Uncovered Fund as well as several angel investors.

“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 CEO Mark Mwangi told TechCrunch on Tuesday.

Mwangi said the capital would also go towards hiring more talent across the firm’s technical, operations, and sales units.

Amitruck links shippers with transporters operating trucks, vans, tuk-tuks, pick-ups and motorbikes, allowing them to negotiate the transport charges and do away with the middleman.

The platform also enables clients to customize options in the services offered, such as off-loading costs, and all goods transported are insured.

“Amitruck connects shippers directly with transporters and provides a platform where you can get secure competitively priced transport,” Mwangi added.

Launched in 2019, the firm has since worked with Unilever, DHL, L’Oréal,SkyGarden and Twiga, among others and says it has over 8,000 vehicles registered on its platform.

Amitruck also provides services to individual services seeking moving services for houses or offices.

The company’s revenue escalated 1,000% in 2021, according to Mwangi, from 400% in 2020, something he attributes to the increased need to digitize supply chain processes amid the COVID-19 pandemic.