Kenyan trucking logistics marketplace Amitruck has raised an undisclosed pre-seed funding round to expand its growing client base in East Africa.
Launched in 2019, Amitruck is a trucking logistics marketplace that seeks to bring trust, transparency and efficiency to transport. The startup’s platform connects transporters directly with cargo owners via its web or mobile application, avoiding middlemen.
Transporters bid for work on the platform, ensuring competitive prices, while cargo owners have convenient access to a range of competitive offers and can choose a transporter based on price, rating and experience.
Since it was launched, the Amitruck customer-side mobile app has been downloaded more than 10,000 times, while the startup has seen a 300 per cent increase in revenues over the last 12 months.
The startup, which completed the Google for Startups Accelerator Africa late last year, has now attracted an undisclosed pre-seed investment from US-based investors Dynamo Ventures and Plug and Play Ventures. Several angel investors from Amitruck’s advisory board with a background in supply chain and logistics have also participated in the deal.
“I look forward to working with Dynamo Ventures and Plug and Play Ventures, who alongside their investment bring a huge amount of experience building and scaling companies and access within the logistics sector,” said Mark Mwangi, founder and chief executive officer (CEO) of Amitruck.
Barry Large, co-founder and partner of Dynamo Ventures, said he was excited to be investing in Amitruck given the momentum it has achieved over the last 12 months, particularly in light of the challenges associated with COVID-19.
“We see many similarities between Amitruck and Sennder which we invested in at a very similar stage of their lifecycle, and believe Amitruck has the potential to become equally as successful,” he said.