Kenyan logistics startup Lori Systems has secured an undisclosed investment from Imperial Logistics. It has also entered into a strategic partnership with the African and European-focused provider of integrated market access and logistics solutions.
The Imperial and Lori Systems partnership in the Southern African Development Community (SADC) region will help develop and enhance Africa’s road freight industry through digital innovation and enablement.
“We believe that Lori solves a real problem when it comes to matching volatile demand and reliable supply in Africa’s highly fragmented road freight industry. As a business that is focused on efficient and innovative logistics and market access solutions, this is a crucial business investment for Imperial and the continent. Investing in Lori Systems will enable the creation of further business opportunities in Africa and provide efficiency for Imperial’s clients and transport operators with whom we collaborate,” noted Mohammed Akoojee, Group CEO, Imperial.
Launched in 2017, Lori Systems is a tech-driven logistics services company that seamlessly coordinates haulage across frontier markets. Its vision is to use technology to drive down logistics associated costs and challenges
Imperial will have access to Lori’s proprietary platform through this partnership, providing shippers and transporters in Southern Africa with access to a flexible suite of software applications and data. This will lead to more efficiently managed operations and fleets, resulting in tangible cost savings.
“Lori Systems partnership with Imperial is validation of our vision of a new era of digitally-enabled and efficient logistics not only in Africa but in frontier markets more broadly,” said Joshua Sandler, Co-Founder and CEO, Lori Systems. “As a leading African logistics and market access player, innovation is at the heart of Imperial, and we couldn’t be more proud to partner with an industry veteran that embraces this digital disruption while expanding Lori’s reach across Southern Africa.”
Lori Systems has successfully driven efficiency across fragmented East and West African markets by providing end-to-end visibility for customers and integrations across the entire supply chain. This partnership brings together Lori’s technology and Imperial’s expertise in logistics to drive similar efficiencies in Southern African markets.
“We believe digital freight exchanges are a compelling business model in emerging markets that complement Imperial’s traditional strength in contracted road freight,” said Llew Claasen, Managing Partner, Newtown Partners. “We have considered many road freight investment opportunities on the African continent and believe that the Lori Systems team, product and the opportunity that presents itself through the Imperial partnership will create a lot of value.”
Beyond the African continent, Lori has drawn increased interest from frontier markets experiencing similar challenges, where Lori’s technology can provide digital solutions and add value. The COVID-19 pandemic has further highlighted the critical need to ensure efficiency in logistics and transportation and digital solutions.
The partnership between Imperial and Lori Systems will provide additional support in Lori’s established East and West African markets and facilitate Lori’s expansion across Southern African markets.
Lori currently operates in Nigeria, Kenya, Uganda, South Sudan, Togo, Rwanda, the Democratic Republic of Congo, Ghana, Tanzania, Zambia with plans to expand to frontier markets across the African continent and beyond.
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