Noki Noki, an emerging Congolese logistics enterprise specializing in delivering food and facilitating supermarket purchases, has successfully secured a seed investment of $3 million. The company, which is currently operational in six nations, intends to leverage this investment to expand its business reach within these territories and to establish a robust foothold in additional markets, including the Democratic Republic of Congo (DRC).
The investment round was spearheaded by Uma Ventures and signifies the ongoing financial support for Congolese startups, which represent a significant portion of the investment landscape in the Central African region. In the year 2023, the country witnessed a remarkable influx of $62 million in venture capital, positioning it as the foremost contributor to the surge in startup financing within Central Africa.
Noki Noki was founded in 2021 by entrepreneur Jonathan Yanghat and offers a suite of logistic services such as Noki Food for delivering meals, Noki Drive for supermarket errands, and Noki Pay, which is an integrated payment system designed for its delivery services. The startup boasts a customer base of over 10,000 users and has reported transaction volumes exceeding 1 billion CFA francs (equivalent to about $167 million) in the year 2023.
Jonathan Yanghat, the CEO and co-founder, expressed his vision, stating, “We embarked on this venture with a modest fleet of motorcycles and a firm resolve to transform the delivery and e-commerce landscape across the continent. This infusion of capital propels us toward our aspiration of setting the standard for last-mile delivery services in Africa.”
Noki Noki is vying for market dominance against several other logistics startups in Central Africa, such as Wikko, Vanoma, and Sualoo, in a last-mile delivery sector that is witnessing robust growth. According to data from Straits Research, this market segment in Africa is experiencing an annual expansion rate of 8.45% and is projected to generate revenues of $2.35 billion by the year 2030.
Vinay Vaswani, the founder of Uma Ventures, commended the Noki Noki team for their profound insights into the market’s demands and their proven capacity to lead the sector. “Their strategic vision aligns with our commitment to fostering tech-driven infrastructure, and we are excited to support them on their journey of growth,” Vaswani remarked.
