The African continent is facing a critical logistics challenge compared to regions like Asia and the EU. Currently, Africa’s low index of intra-continental trade poses a challenge to the vision of the African Continental Free Trade Area (AfCFTA) due to nonexistent corridors, high logistics costs, complex customs processes, delays, and lack of infrastructure. With its logistics marketplace platform, Logidoo addresses this major challenge by creating commercial corridors between African countries through its fast, reliable, secure, and affordable intelligent logistics solution.
Continuing its momentum to support emerging sectors in the African continent, 216 CAPITAL co-leads Logidoo‘s seed funding round, which closed at $1,550,000. This investment is led by a consortium of investment funds 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). The funds raised will enable the Panafricaine startup to achieve key milestones: an ambitious expansion plan and the development of its franchise network in five African countries, namely Congo, Gambia, Guinea Conakry, Mali, and Mauritania.
The startup was founded in 2020 by Tamsir Ousmane Traoré, a Senegalese logistics expert with over 15 years of experience, Chairman of the logistics commission within the Senegal Private Sector Association, and Mohamed Alaoui, a 3PL (Third-Party Logistics) specialist with over 20 years of experience in Morocco and the sub-region.
As of now, the startup is based in Senegal, Morocco, Ivory Coast, and Tunisia, and is revolutionizing the African logistics industry with its unique and comprehensive solution covering the entire logistics value chain. By integrating actors from both the formal and informal sectors, it ensures extensive market coverage, encompassing everything from transportation to cash management. With its dual role as a marketplace and logistics provider, Logidoo has established itself as a “5PL cross-border” provider, a term that encapsulates its revolutionary approach, unmatched in the market.
To date, the startup has onboarded more than 3,000 logistics providers, completed over 100,000 operations, served over 400 clients, and has a presence in 8 countries across the continent. In January 2023, the startup achieved a positive EBITDA index, demonstrating its financial strength and business acumen, giving it a competitive edge in the African market.
“Logidoo impresses with its innovative approach to logistics challenges. With a clear vision and sectoral expertise, the company is positioned for exceptional success. Our funding reflects our confidence in Logidoo’s ability to revolutionize logistics, providing effective solutions to the market’s evolving needs. By bridging the $130 to $170 billion infrastructure gap in Africa, we are contributing to overcoming persistent obstacles to reducing logistics costs and fostering the continent’s sustainable growth,” says Hassen Arfaoui, Principal Investment Manager at 216 CAPITAL.
With this funding, Logidoo intends to deliver tangible, large-scale solutions to the logistics industry in Africa. Its expansion strategy will strengthen its role as a facilitator of exchanges and sustainable connections within the mobility sector across the African continent.
