African logistics startup Lori Systems raises Series A led by Chinese investors

African on-demand trucking logistics company Lori Systems has raised a Series A round led by Chinese investors Hillhouse Capital and Crystal Stream Capital. Other participating investors included Nigeria and U.S.-based EchoVC, Flexport CEO Ryan Petersen and Nigerian founder Iyinoluwa Aboyeji. Lori Systems is not disclosing the amount of the Series A. DealStreet Asia reported the […]

Nigerian logistics startup Kobo360 raises $30M backed by Goldman Sachs

Nigerian freight logistics startup Kobo360 has raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks. The company — with an Uber -like app that connects truckers and companies to delivery services — will use the funds to upgrade its platform and expand […]

Africa’s ride-hail markets are hot spots for startups and VC

When it comes to VC, vehicles, and startups, Africa’s ride-hail markets are becoming a multi-wheeled and global affair. The big players such as Uber and Bolt are competing in Kampala and Nairobi—where in addition to car-service—they offer rickshaw taxis. On-demand motorcycle startups are multiplying and piloting EVs with funds from international partners. And many ride-hail companies in Africa […]

Nigerian logistics startup Kobo360 raises $6M, expands in Africa

Jake Bright Contributor More posts by this contributor Nigerian logistics startup Kobo360 raises $6M, expands in Africa SimbaPay launches Kenya to China payment service over WeChat Nigerian trucking logistics startup Kobo360 has raised $6 million to upgrade its platform and expand operations to Ghana, Togo and Cote D’Ivoire. The company — with an Uber -like app that connects truckers and […]

MallforAfrica goes global, Kobo360 and Sokowatch raise VC, France explains its $76M fund

Jake Bright Contributor More posts by this contributor Harley-Davidson to expand EV lineup, may include scooters, bicycles Sokowatch closes $2 million seed round to modernize Africa’s B2B retail B2B e-commerce company Sokowatch closed a $2 million seed investment led by 4DX Ventures. Others to join the round were Village Global, Lynett Capital, Golden Palm Investments and Outlierz  Ventures. The […]

Nigerian logistics startup Kobo360 accepted into YC, raises $1.2 million

Jake Bright Contributor More posts by this contributor Breaking down France’s new $76M Africa startup fund Africa Roundup: African startup investments turn to fintech this winter season When Nigerian logistics startup Kobo360 interviewed for Y Combinator’s 2018 cohort, a question stood out to founder Obi Ozor. “What’s holding you back from becoming a unicorn?,” they asked. […]