Kenya-based Trucking startup Amitruck raises USD 4 million in a seed round

Amitruck, a Kenyan digital logistics startup, has raised USD 4 million in a seed funding round led by Better Tomorrow Ventures (BTV) on 1 February 2022.

Investors: The latest funding round was led by Better Tomorrow Ventures, a San Francisco-based venture capital firm that targets early-stage startups, with participation from Dynamo Ventures, Launch Africa, uncovered fund, Knuru Capital, Flexport Inc, Rackhouse Venture Capital and strategic angel investors.

The Objectives behind the funding: The company plans to deploy the current proceeds to expand its presence across Africa and hire teams across its technical, operations and sales units, including senior leadership.

About Amitruck

Founded in 2019 by Mark Mwangi and Timothy Mwangi, Amitruck is a digital trucking logistics marketplace that enables transporters (owners of vans, pick-ups, motorbikes and trucks) to find and connect with shippers through its mobile and web applications. By matching cargo owners with trucking logistics professionals through a digital competitive bidding process, Amitruck offers convenience, efficiency, security and competitive price. The startup’s database has grown to more than 8,000 vehicles, which have completed around 100,000 deliveries for over 300 corporate clients in just over two years, it said in a statement. According to the company, its revenue grew 1,000 per cent in 2021, despite the limitations brought about by the pandemic. Amitruck aims to streamline the trucking business in Africa by connecting clients directly with transporters and eliminating the cost-prohibitive intermediaries. Using its platform, cargo owners can choose a transporter based on rating, price and experience.

What the Founder has to say:

“We are thrilled about the positive response that Amitruck has received from cargo owners and transporters alike. Transport touches on almost every sector of the African economy and is crucial to its development; we are excited to be part of that journey. Thanks to the support from our investors, we look forward to expanding our footprint across Africa and bringing more carriers and shippers to our marketplace,” said Mark Mwangi, Amitruck’s CEO and Founder.

What the Investor has to say:

 “As an investor in a unicorn CloudTruck startup here in the US, we have in-depth knowledge of the operational and financial requirements from truckers. While the trucking and logistic business in Africa has grown tremendously over the years, the pace of innovation, particularly in its administration, has been slow. Amitruck’s solution is ideal for bringing the industry into the 21st century,” said BTV’s General Partner Jake Gibson.

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