Kenyan logistics startup, Sendy, has raised a US$ 20 million series B round from various investors globally.
The funding round was led by Atlantica Ventures and Toyota’s investment arm, Toyota Tsusho Corporation.
Sendy, which was founded in 2015, will channel the funds towards onboarding new hires to improve its technology.
Sendy CEO, Mesh Alloys spoke to TechCrunch, saying, “Getting better operational efficiency is super key so we’ll invest in engineering teams and data teams and deploying talent to improve the services that we give to our customers.”
The funds come with a research and development partnership between Sendy and Toyota Tsusho, via the latter’s venture arm, Mobility 54.
Mobility 54 was established with the vision to “invest in startups with innovative mobility services and technology in Africa and support their business expansion.”
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The 4 year old company has offices in Kenya, Uganda and Tanzania.
Sendy is looking forward to expanding into West Africa.
The company has 5000 vehicles in its fleet that ferry goods of various sizes.
Sendy is in competition with big names like Safaricom, Unilever Bidco and Crown beverages among many others in the logistics space.
