Africa’s logistics startup space has gained another multi-million dollar round with global backing.
Toyota Tsusho Corporation, a trade and investment arm of Japanese automotive company Toyota, also joined the round.
Sendy’s raise comes within six months of Nigerian trucking logistics startup Kobo360’s $20 million Series A backed by Goldman Sachs. In November, East African on-demand delivery venture Lori Systems hauled in $30 million supported by Chinese investors.
Those companies have plotted Africa expansions into each other’s markets and broader Africa. With its latest round, Sendy ups its competitive stance in the continent’s startup logistics space.