GrenTec Capital Partners Invests Undisclosed Amount in Kenya’s E-logistics Startup Amitruck

GreenTec Capital Partners has announced it has invested an undisclosed amount of funding in Kenya’s e-logistics startup Amitruck.

Amitruck is an innovative mobile and web-based trucking logistics platform that brings together cargo owners and transporters for their mutual benefit.

Logistics spending in Africa by manufacturers and retailers has crossed the $160 billion mark back in 2018 and keeps growing. However, the sector across the continent suffers from fragmentation and lack of transparency.

According to a study by the United Nations Economic and Social Council, in accessing foreign markets, on average, Africa’s transport and insurance costs represent 30 percent of the total value of exports. By matching cargo owners with trucking logistics professionals through a digital competitive bidding process, Amitruck brings trust and transparency into the African logistics sector. 

Amitruck’s solution cuts out expensive middlemen whilst increasing security as all drivers and vehicles are vetted and goods in transit insured.

Maxime Bayen, Senior Company Builder at GreenTec said, “Logistics is a significant challenge in Africa and the current crisis is only making this more obvious. Amitruck’s solution has the potential to tackle the fragmentation and lack of trust in the sector while enabling capacity growth by increasing driver and truck owner accessibility to the broader market. We are extremely proud to be kicking off this long-term collaboration with Amitruck’s team.”

Mark Mwangi CEO of Amitruck also said, “With a presence in Germany and  Africa, Greentec is an ideal partner as we continue to scale our business.

“We’re excited to have a partner on board that provides vast strategic experience in our market.”

Amitruck has already demonstrated impressive traction and has a strong team prepared to take the company forward. GreenTec will work closely with Amitruck to support the company’s growth plans and further scaling.