Kenya’s E-Logistics Startup, Lori Systems, Receives Investments From Google

Kenya’s E-Logistics Startup, Lori Systems, Receives Investments From Google

Kenya-based e-logistics startup, Lori Systems has just received an undisclosed amount of investment from Google. Lori is a tech-enabled venture-backed Logistics company that coordinates haulage from across the frontier markets.

This is Google’s third investment from its Fifty Millon Dollars ($50 million) investment fund which was announced by its CEO Sundar Pichai in October 2021. it was raised from the launching of Google’s development centre in Africa, located in Nairobi Kenya.
Recently Lori was mentioned as the seventh fastest-growing company in Africa by the Financial Times. the company has helped thousands of shippers move cargo worth about Ten Billion Dollars ($10 Billion) across Africa.
 Founded by Uche Ogboi, and Jean-Claude Homawoo in the year 2017, Lori system is one of the leading logistics companies on the continent. At an affordable cost, shippers are easily connected with suitable transportation. The process is completely digitalized as shippers are equipped to help them manage their cargo effectively, this goes for linking with transportation, process documentation and transaction payment.
Commenting on the investment, Google’s Managing Director for Sub-Saharan Africa, Nitin Gajria, stated, “At Google, we understand the transformative power digitisation can bring to the African continent. The region has so much potential, but innovation can unlock this. Lori Systems is a great example of how technology can be scalable across Africa and how, in turn, this can drive meaningful economic development.”

Cofounder and CEO Lori Systems, Uche Ogboi, gave a few insights on the event, “We’re excited to have Google as a partner as we continue to build the operating system for emerging market logistics. Our vision of the future of logistics in Africa is one that is digital, scalable and more efficient,”

He further explained, “We have been successful, achieving up to 20% price reduction for cargo owners and nearly 2x increase in truck utilisation for transporters on our platform. We are excited about this funding as it will allow us to continue driving superior efficiencies across logistics on the continent.”

Anuoluwamipo. E. Idowu

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The Ouut 2022
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