Kenya’s Amitruck welcomes Dynamo Ventures and Plug Play Ventures onboard
Monday, 22 February 2021 16:27
Kenyan logistics platform Amitruck will obtain an undisclosed pre-seed investment as part of an operation led by two U.S. companies, Dynamo Ventures, and Plug and Play Ventures.
“Amitruck is facing increasing demand and we need to expand our platform. We have added several very large accounts including Jumia, Kenya’s largest e-commerce player,” said CEO Mark Mwangi (pictured).
The company claims to have achieved growth of more than 300% in 2020, despite the effects of the covid-19 pandemic. Also in 2020, it benefited from significant financial support from Germany's GreenTec Capital, which contributed its expertise and networks to support Amitruck in achieving its strategic objectives.
The logistics startup plans to leverage the experience and knowledge of its new partners Dynamo Ventures and Plug and Play Ventures to develop and grow the company in Kenya and East Africa. The arrival of these investors is a positive sign in terms of investment for the logistics sector in Kenya. However, the nature of the financing committed reflects the caution of foreign investors who are not risking greater investment in the sector, especially in this period of crisis.
Chamberline Moko
Live News
-
Moroccan Mobility Start-Up Weego Raises $1.1 Million to Expand Across African Cities
11:04
-
Cameroon, UNHCR Explore Shift Toward Economic Integration for Refugees and Internally Displaced
11:01
-
Botswana’s Diamond Sales Fall Again, Weighed Down by Weak Global Demand
10:58
-
Stakeholders Review Final Steps for CFA130.4 Bln Ebolowa-Akom II-Kribi Road Project
10:52
-
Congolese Bank Solidaire Banque Partners with Visa to Tap Congo’s Digital Payments Market
10:46
-
Cameroon Launches Second Agritech Innovation Challenge, Top Startups to Receive Up to CFA40 Million Each
10:41
-
South Africa Uses Tax Changes to Ease Pressure on Households and Firms
10:37
-
Flocash and Quest launch prepaid Visa card in Zimbabwe
09:39
-
Noah, NALA launch stablecoin network to speed cross-border payments into Africa
09:38
-
Dangote Cement signs $1 billion Sinoma deal as Cameroon plant project resurfaces
03:52
Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...
Amazon begins talks with Kenya on low-Earth orbit satellite broadband Kenya’s digital market ...
Algeria’s NESDA and the Algerian‑Saudi Investment Company sign cooperation deal focused on researc...
DRC seeks ITC support for local battery value chains Musompo SEZ targets $2 billion private ...
Military escalation between Iran, Israel, and the United States has raised the risk of disruptions...
Lucara Diamond expects revenue from its Karowe mine to fall sharply in 2026. Weak global demand and competition from synthetic diamonds are weighing on...
The government plans tax adjustments and incentives to ease pressure on households and businesses. Tax-free savings limits and retirement deduction...
Dangote Cement signs $1 billion plant construction deal with China’s Sinoma Investment targets new lines in Nigeria, Ethiopia and possible...
Prospect Resources plans to raise its stake in the Mumbezhi copper project to 90%. The company will pay $4.25 million to buy an additional 5%...
In April 2026, the Amani Festival will change venues. Forced to leave Goma for Lubumbashi due to growing insecurity, the event turns displacement into an...
March is marked by festivals, conferences, workshops and other events celebrating women. In March 2026, a film program is dedicated to female directors...