iMile will use the funding to further expand its business in Middle Eastern markets such as Saudi Arabia, Kuwait, and Egypt, as well as expand its workforce.

Reportedly, the funding round for iMile was led by an unnamed venture capital firm active in the Chinese logistics market.

With regard to the fresh funding round, founder and chief executive at iMile, Rita Huang told the media, “Improving iMile’s tech prowess, customer experience and hiring new talent are our top priorities in the coming months. Some analysts say that logistics is out-of-fashion now but as a next-generation company, we see massive potential.”

“Our aim is to develop local solutions and technology to address regional needs. An indigenous R&D centre would also promote knowledge and capacity building in the region. This funding will enable us to continue our work of creating innovative last-mile solutions and scale our business.”

Currently, iMile operates in Saudi Arabia and the UAE. It has two R&D centres in China and the startup is planning a third in the Middle Eastern region.

Established in 2017, iMile facilitates the movement of goods from a transportation hub to the final destination as fast as possible. Its list of clients includes Amazon, Mumzworld and Noon.

iMile also offers warehouse and fulfillment facilities in the UAE and Saudi Arabia. Currently, the company has around 700 employees across the UAE, Saudi Arabia, and China.

According to UK-based Brandessence Market Research, the last mile delivery market is forecast to reach $61.57 billion over the next five years, almost double of $31.19 billion in 2018. It is expected to expand at a compound annual growth rate of 10.2 percent.

The post Dubai’s logistics startup iMile secures $10 mn funding to expand in ME appeared first on International Finance.

Sendy is being supported by Toyota Tsusho Corporation, a trade and investment subsidiary of leading Japanese automotive organisation Toyota.

Being a delivery associate for transporting packages across Kenya, Sendy offers a mobile software tool and web portal that facilitates people and minor businesses to contact drivers and book on-demand or arranged delivery services anytime, any day round the clock.

In its bid to increase its presence in the regions of East Africa, the startup was seeking funding.

Established in 2014 by Don Okoth, Evanson Biwott, Malaika Judd and Meshack Alloys, Sendy provides on-demand door-to-door package delivery services that are based in Nairobi, the capital city of Kenya.

Currently boasting of around 50,000 customers, Sendy offers its services to more than 4,000 businesses across the country’s major cities of Thika, Mombasa, Kisumu and of course, Nairobi.

Among the 16 startup firms with which Toyota Tsusho signed a Memorandum of Understanding (MoU) last year, Sendy hires more than 60 individuals out of which 50 percent work in the engineering department.

Malaika Judd, one of the co-founders of Sendy, said that the challenge posed by logistics is so big that all efforts are invested in the process of deriving answers to overcome it.

And, she added that companies such as Sendy would benefit a great deal with the advent of e-commerce.

Commenting on the impact that delivery partners such as Sendy are having on the market, Dennis Awori, the chairman of Toyota in East Africa said that the costs of transporting spare parts from one place to another or to a consumer, has reduced by about 35 percent because of Sendy.

The post Toyota-backed Kenyan logistics startup Sendy raises $20mn in Series B funding round appeared first on International Finance.

Saloodo will use South Africa as a stepping stone to tap into sub-Saharan Africa for digital trucking solutions. Road freight network is vital to South Africa as well as the other 16 landlocked countries within sub-Saharan Africa. Currently, the region’s road freight operations is average and necessitates efficient technology for improvisation. 

Tobias Maier, CEO of Saloodo! Middle East and Africa, told the local media that, “With real-time visibility, Saloodo! will inject greater transparency and efficiency into the road network in the region, enabling shippers — from small enterprises and startups to large multinational groups — to find trusted and reliable freight carriers in South Africa.” 

The platform is simple and offers reliable interface for shippers and transport providers for route and cost optimisation, cargo and transit times, the local media reported.

Saloodo launched its platform in 2017 in Germany. Its services are now available in Italy, Poland, the UK and the Middle East. Saloodo is the first digital platform available in the country.  The startup has decided to tap into the African market after successfully entering the Middle East. 

Saloodo will boost transparency and order into the region’s road freight network. In turn, this will enable carriers handling existing fleets to optimise capacity efficiently. All contractual relationships on the Saladoo platform will be organised through the local DHL entities. 

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With regard to the launch in Nigeria, Uche Ogboi, Lori System’s chief operating officer told the media that, “Lori is at the forefront of revolutionising cargo transport across Africa from the ground up. Our mission in Nigeria is to create a more efficient logistics experience for cargo owners who are burdened with the task of moving their goods across the country.”

He pointed out that Lori Systems has created a digital platform that enables the movement of goods through a transparent supply chain management system that is affordable, reliable and flexible.

Since its launch in 2016, Lori Systems has changed the cargo transportation landscape in Kenya by tackling inefficiencies in the industry.

According to the company, Africa spends around $180 billion on transportation of goods each year. Ogboi said that his company aims to reduce these huge logistics costs through the introduction of its digital platform.

After its launch in Kenya, Lori Systems has also expanded in nine African countries including Uganda, Rwanda and South Africa. The startup has a network of over 2500 truck drivers operating across these countries.

In Nigeria, Lori Systems will compete with Kobo360, another digital logistics platform backed by the International Finance Corporation and TradeDeport, a logistics startup focused on the FMCG sector.

Lori Systems’ expansion in Nigeria follows the startup securing an $8.7 million funding from undisclosed investors in the month of June.

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Esnad Express is the 11th cargo company in the Kingdom of Saudi Arabia to be granted an express courier licence to legally operate customs clearance and last-mile delivery services. It first started operations as a cargo company and later grew into an international logistics operation. 

“We entered with smart technology to cater to the booming e-commerce sector in logistics, with the aim of changing the ways logistics work in the Middle East,” Muhammad Omer Tayyeb, COO and co-founder, said in a company press release. 

Esnad Express was established as a Saudi Arabian logistics startup in 2016, with over 20 years of experience in logistics and last-mile sector, he said. It operates more than 250 vehicles supported with GPS technology and online tracking for customers in an effort to boost its logistics services. 

“Bahrain is a new gateway we are opening to KSA for ecommerce companies to give them fast entry into KSA through the Causeway,” Mutlaq Zaid Al Faraj, vice chairman and co-founder said. The company has set up cargo and courier clearance points at Riyadh Airport, Riyadh dry port, King Abdulaziz Port in Dammam, and at Jeddah Islamic Port. 

It caters to a myriad of industries such as energy, ecommerce, chemicals, automotive and much more. Esnad Express has a strong industry presence in the Kingdom, UAE, Bahrain, China, and Hong Kong. 

The post Saudi Arabian logistics startup Esnad covers 80% market in 6 months appeared first on International Finance.