Logistics startup Logidoo announced the successful closing of its seed round, securing $1,550,000. The round was led by a consortium of venture capital firms, including Maroc Numeric Fund II (Morocco), 216 Capital (Tunisia), Gullit VC (Kenya), Founder Factory Africa (Nigeria), Sunny Side Venture Partners (Egypt/Japan), and Kalys Ventures (Morocco). This investment affirms Logidoo's role in driving transformation across Africa, according to a press release. The press release states that this funding round highlights «the market's confidence in Logidoo's innovative approach to tackling a critical African challenge : low intra-African trade compared to regions like Asia and the EU». By focusing on «cross-border» logistics, Logidoo «goes beyond being a logistics provider, acting as a visionary company that makes the vision of the African Continental Free Trade Area (ZLECAF) a tangible reality», it adds. To date, Logidoo has «aggregated over 3,000 logistics providers, completed more than 100,000 operations, served over 400 customers, and established a presence in 8 countries on the continent». The press release further emphasizes that «achieving positive EBITDA status since January 2023 further demonstrates Logidoo's financial health and commercial acumen, setting it apart from other capital-intensive logistics startups». In 2023, Logidoo expanded its franchise network to 5 additional African countries, solidifying its continental footprint.
