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Amitruck Raises Undisclosed Pre-Seed Funding Round

News

Startups

Feb. 15, 2021, 4:04 p.m.

Kenyan-based Amitruck, a startup that allows owners of vehicles to find and connect with customers through a mobile app, has secured undisclosed pre-seed funding round from US-based investors Dynamo Ventures and Plug and Play Ventures.

Several angel investors from Amitruck’s advisory board with a background in supply chain and logistics also participated in the deal.

The platform allows transporters to bid, ensuring competitive prices, while cargo owners have convenient access to a range of competitive offers and can choose a transporter based on price, rating, and experience.

“I look forward to working with Dynamo Ventures and Plug and Play Ventures, who alongside their investment brings a huge amount of experience building and scaling companies and access within the logistics sector,” said Mark Mwangi, founder and chief executive officer (CEO) of Amitruck.

Barry Large, co-founder, and partner of Dynamo Ventures said he was excited to be investing in Amitruck given the momentum it has achieved over the last 12 months, particularly in light of the challenges associated with COVID-19.

“We see many similarities between Amitruck and Sennder which we invested in at a very similar stage of their lifecycle, and believe Amitruck has the potential to become equally as successful,” he said.

Since it was launched, the Amitruck customer-side mobile app has been downloaded more than 10,000 times, while the startup has seen a 300 percent increase in revenues over the last 12 months.

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Verny Joy Author

Verny loves to write poetry, fiction and quotes. Her love for writing landed her in journalism. She loves gadgets and travelling to explore new places.

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