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
Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...
African startup M&A hits record 67 deals in 2025 Consolidation driven by funding pressures and ex...
Moniepoint, Opay, Kuda, and others gain national status with tighter oversight A naira 5 billion ...
Touted as a tool of emancipation, blockchain was meant to give the Central African Republic a new fo...
CBE introduced CBE Connect in partnership with fintech StarPay. The platform enables cross-border...
Nigeria issues 501bn naira bond to clear power sector arrears Institutional investors fully subscribed to inaugural PPSDRP offering Programme aims to...
DR Congo, UAE sign CEPA aiming to double trade to $10bn Deal opens UAE market to 6,000 Congolese products Agreements cover ports, mining...
Blaise Diagne airport passenger traffic rose 0.46% to 2.94m in 2025 Growth led by Europe/North Africa routes; transit passengers fell...
UNDP, Africell partner to boost UniPods connectivity in Sierra Leone, Gambia Africell to supply high-speed internet, 4G MiFi and IoT...
Fela Kuti received a posthumous Lifetime Achievement Award from the Recording Academy He is the first African artist recognized by the Grammys...
Manovo-Gounda-St Floris National Park is one of the largest protected areas in Central Africa. Located in the northeastern part of the Central African...