Jetstream Africa, a digital freight forwarding company based in Ghana, has unveiled an innovative platform called Jetvision.ai that harnesses artificial intelligence. This platform aims to heighten cross-border trade across Africa.
This latest development enables local banks to employ Jetvision.ai in offering trade finance products to businesses that are considered financially reliable. This trade finance product offering will initially be available in the West Africa region and will progressively be expanded to other areas.
Jetstream Africa first launched a different version of the platform, Jetvision before introducing the AI-enabled Jetvision.ai. This successful launch coincides with Jetstream’s successful year, marked by increased levels of shipment tracking and managing through Jetvision 1.0.
Established in 2018 by CEO Miishe Addy and COO Solomon Torgbor, Jetstream Africa commenced operations in Ghana one year later, with an LCL (Less than Container Load) aggregation service. The mission: to empower African businesses in efficiently managing and overseeing their cross-border supply chains.
According to a recent report, the logistics tech-startup forwarded the logistics and financing of over 700 containers in 2023. Furthermore, the company plans to intensify its presence across Africa’s 13 most significant trading markets within the upcoming two years.
Initially, Jetvision served as an internal tool, which contributed to a notable 44% monthly increase in shipment volumes for each customer. Now, Jetvision.ai, the innovative version of the platform, is available to all freight forwarders across Africa.
COO Solomon Torgbor nostalgically recalled a time when operations were dependent on spreadsheets, emails, and even WhatsApp chats. However, this changed when Jetvision was adopted internally, with ground operations team members wholeheartedly embracing it. In just a few weeks, it transformed into the organization’s preferred tool for shipment tracking and management.
Jetvision.ai, developed by Jetstream Africa, is equipped with features such as AI-enhanced automation of processes, document management, and trade financing. It also provides API integrations for services ranging from insurance to payments.
The AI-powered tool serves not just a handful but a massive number of freight forwarders and businesses in Africa. According to a post on LinkedIn by CEO Miishe Addy, the platform is open to “50,000 freight forwarders and 2 million export and import businesses” that play a critical role in progressing Africa’s supply chain.
Addy adds that incorporating artificial intelligence into Jetstream’s operations will revolutionize logistics and financing, and significantly enable businesses.
Before launching the AI platform, Jetstream Africa secured substantial financial backing. In 2021, the company closed a seed funding round and raised $3 million. The funding was aimed at constructing digital infrastructure specifically for Africa’s trading environment. The company also managed to secure an additional $13 million in debt and equity funding during its pre-Series A round in 2023, which was dedicated to expansion into new markets.
