Ugandan e-logistics startup Ridelink has announced it raised $150k in pre-seed funding round to help it scale operations.
The round was led by Omidyar Network, the African Leadership Academy’s Young Entrepreneurs Fund, and Ortus Africa Capital.
Ridelink was launched in 2017. The platform helps in the smooth running of business operations by acting as a third-party transport and logistics company focused on stimulating the growth of businesses by creating sustainable and affordable mobility solutions.
Ridelink improves mobility efficiency by connecting SMEs to a network of transport operators. So far, Ridelink claims it has served over 250 businesses and worked with more than 2,000 drivers across East Africa.
Ridelink chief executive officer (CEO) Daniel Mukisa speaking said that Ridelink will use the fund to improve its technological efficiency.
“We plan on using the capital raised to build globally competitive and robust technology and accelerate our marketing campaigns,” Daniel said.
Young Entrepreneurs Fund fund manager Thokoza Mjo also speaking on the funding said: “The Young Entrepreneurs Fund is designed to incentivize co-investments into graduates of our programs like Daniel who have chosen to become career entrepreneurs”.
Ridelink is already operating in Kenya, Tanzania, and Uganda, and intends to use the fund to build out its platform and acquire more customers.