Amitruck, a Kenya-based digital trucking logistics startup, has received US$4 million in seed funding to help it expand across Africa.
Better Tomorrow Ventures (BTV), a San Francisco-based venture capital firm that focuses on early-stage entrepreneurs, spearheaded the fundraising. Dynamo Ventures, Rackhouse Ventures, Flexport, Knuru Capital, Launch Africa Ventures, Uncovered Fund, and a number of strategic angel investors also participated in the round.
The business is now aiming for competitiveness in Africa’s haulage and logistics market, which accounts for over 80% of all products transported.
Amitruck is a trucking logistics marketplace that was founded in 2019 with the goal of bringing trust, transparency, and efficiency to the transportation industry. The startup’s platform connects transporters and cargo owners directly through its online or mobile application, eliminating the need for middlemen.
“We are delighted with the good reviews Amitruck has received from both cargo owners and transporters. We are pleased to be a part of that journey because transportation touches practically every area of the African economy and is critical to its development. “We look forward to extending our footprint across Africa and adding additional carriers and shippers to our marketplace thanks to the assistance of our investors,” said Amitruck’s CEO and founder Mark Mwangi.
Amitruck has a database of over 8,000 vehicles that have done nearly 100,000 deliveries for over 300 corporate clients in just over two years. As a result, sales increased by 1,000 percent in 2021.
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