Logidoo, a rising star in the African logistics and e-commerce sector, has proudly announced a significant boost in its seed funding, securing $1,550,000. This investment, led by a consortium of venture capitalists such as Maroc Numeric Fund II (Morocco), 216 Capital (Tunisia), Gullit VC (Ethiopia), Founders Factory Africa (Nigeria), Sunny Side Venture Partners (Egypt/Japan), and Kalys Ventures (Morocco), underscores Logidoo’s unique position in transforming the logistics landscape across Africa.
This funding round marks a milestone for Logidoo, highlighting the market’s confidence in its innovative approach to addressing a critical African challenge: the relatively low intra-trade compared to regions like Asia and the EU. By focusing on “cross-border” logistics, Logidoo is not just a logistics provider but a visionary company making the African Continental Free Trade Area’s (AFCFTA) vision a tangible reality.
Logidoo has established itself as a “cross-border end-to-end 5PL” provider, a term that encapsulates its groundbreaking approach and sets it apart in the logistics sector. This tagline reflects our commitment to offering comprehensive, cross-border logistics solutions unrivalled in the market.”
Logidoo has demonstrated remarkable traction and operational efficiency. To date, the company has aggregated over 3,000 logistics suppliers, completed more than 100,000 operations, served over 400 clients, and has a presence in 8 countries across the continent. Achieving EBITDA positive status since January 2023 further illustrates Logidoo’s financial health and business acumen, distinguishing it from other cash-burning logistics startups.
In 2023, Logidoo embarked on an ambitious expansion plan, extending its franchise network to 5 African countries. This strategy, supported by the latest funding, aims to solidify Logidoo’s footprint across the continent. Adding to this momentum is introducing experienced executives to the team, including key positions like CFO and COO, enhancing executive leadership.
The founder, Tamsir Ousmane Traoré, with his extensive background in logistics, including teaching logistics and serving as the Chairman of the logistics commission within the Senegal Private Sector Association, boasting 10 years of industry expertise, and Mohamed Alaoui, a 3PL and courier specialist with over 20 years of experience in Morocco and the sub-region, embody the perfect founder-market fit, further instilling confidence in our direction and strategy.
Source: wamda.com
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