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Kenyan logistics startup Sendy raises $20M round backed by Toyota

Africa’s logistics startup space has gained another multi-million-dollar round with global backing.

Kenyan company Sendy — with an on-demand platform that connects clients to drivers and vehicles for goods delivery — has raised a $20 million Series B led by Atlantica Ventures.

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. The company plans to expand to West Africa in 2020.

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