Close Menu
Innovation Village | Technology, Product Reviews, Business
    Facebook X (Twitter) Instagram
    Friday, July 11
    • About us
      • Authors
    • Contact us
    • Privacy policy
    • Terms of use
    • Advertise
    • Newsletter
    • Post a Job
    • Partners
    Facebook X (Twitter) LinkedIn YouTube WhatsApp
    Innovation Village | Technology, Product Reviews, Business
    • Home
    • Innovation
      • Products
      • Technology
      • Internet of Things
    • Business
      • Agritech
      • Fintech
      • Healthtech
      • Investments
        • Cryptocurrency
      • People
      • Startups
      • Women In Tech
    • Media
      • Entertainment
      • Gaming
    • Reviews
      • Gadgets
      • Apps
      • How To
    • Giveaways
    • Jobs
    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Artificial Intelligence»Logidoo secures $50K for advancement of AI-enhanced logistics technology
    Logidoo

    Logidoo secures $50K for advancement of AI-enhanced logistics technology

    0
    By Tapiwa Matthew Mutisi on July 17, 2024 Artificial Intelligence, Funding, Grants, Investments, Logistics, News, Technology

    Logidoo, an emerging logistics enterprise with a focus on the Pan-African region, has recently been awarded a substantial grant of $50,000. This grant is specifically earmarked for the development and enhancement of artificial intelligence (AI) technologies tailored to revolutionize the logistics sector within Africa. The financial support comes from the International Development Research Centre (IDRC), an entity that operates under the umbrella of Canada’s international affairs and development initiatives. The IDRC’s mission is to foster research and innovation in regions that are on the developmental trajectory, with a particular emphasis on nurturing local capacities.

    The grant is set to bolster Logidoo’s capabilities as a digital logistics platform. The company’s strategy involves leveraging this fresh infusion of funds to simplify the complexities inherent in logistics transactions and to optimize the efficiency of transportation operations. The overarching goal is to transform the logistics landscape across the African continent, making it more streamlined and accessible for all stakeholders involved.

    Tasmir Ousmane Traore, the visionary founder and the driving force behind Logidoo as its CEO, has expressed confidence that this new financial backing will catalyze the creation of cutting-edge AI-driven solutions. These innovations are anticipated to bring about substantial improvements in various facets of the logistics industry, including enhancing operational efficiency, bolstering transparency, and making logistics services more cost-effective for the African market.

    Since its inception in 2019, Logidoo has been steadfast in its commitment to a long-term vision. This vision encompasses the establishment of a highly optimized logistics network that promises to cut down on operational expenses and reduce the time goods spend in transit. An additional anticipated outcome is a marked improvement in customer satisfaction levels.

    The company is poised to leverage these advancements to empower African enterprises, equipping them with the necessary tools to broaden their market reach and explore new opportunities across the continent.

    This recent grant comes on the heels of an earlier successful fundraising endeavor that took place earlier in the year. Logidoo secured $1.55 million in seed capital from a group of venture capitalists, which included Nigeria’s Founders Factory Africa. The seed funding is intended to facilitate Logidoo’s ambitious expansion plans, with the company setting its sights on extending its logistics services to a number of key African nations, including Senegal, Morocco, Ivory Coast, and Tunisia.

    The recent financial boost that Logidoo has received is earmarked for the development of sophisticated artificial intelligence (AI) solutions aimed at revolutionizing the logistics sector in Africa. The investment will be channeled towards the creation of intelligent algorithms designed to optimize delivery routes, thereby reducing travel times and cutting down on fuel consumption. This initiative is expected to lead to more eco-friendly and cost-effective logistics operations.

    A portion of the grant will also be allocated to the automation of routine tasks and the implementation of predictive maintenance systems. These systems are intended to foresee and prevent expensive equipment failures before they occur, thus minimizing downtime and maintenance costs.

    Armed with these forthcoming AI enhancements, Logidoo has set itself ambitious performance targets. The company aims to reduce delivery times by a significant 20%, cut operational costs by 15%, and boost the rate of on-time deliveries to an impressive 95%. Achieving these goals would represent a considerable leap forward in efficiency and reliability for the logistics industry within the continent.

    In addition to these performance improvements, Logidoo has outlined an aggressive expansion strategy. Over the next two years, the company plans to extend its reach to 10 new African countries and grow its customer base by 50%. This expansion is not just about increasing Logidoo’s market presence; it is also about having a transformative impact on the logistics sector at large.

    Logidoo’s advancements are poised to make logistics services more transparent, faster, and more affordable. The company is committed to ensuring that these benefits are not limited to large enterprises but are also accessible to businesses of all sizes. By doing so, Logidoo believes it can make a substantial contribution to the economic growth of the continent, as efficient logistics services are a critical component of a thriving economy.

    Our vision goes beyond immediate gains. We believe that AI-powered logistics solutions are key to unlocking the full potential of African economies.

    Tasmir Ousmane Traore, Logidoo CEO
    Moroccan logistics startup, Logidoo, secures $1.55 million in seed funding to expand its cross-border logistics offerings

    Related

    Africa AI artificial intelligence (AI) Business Funding grants IDRC International Development Research Centre Investments Logidoo Logistics Startups Technology
    Share. Facebook Twitter Pinterest LinkedIn Email
    Tapiwa Matthew Mutisi
    • Facebook
    • X (Twitter)
    • LinkedIn

    Tapiwa Matthew Mutisi has been covering blockchain technology, intelligent technologies, cryptocurrency, cybersecurity, telecommunications technology, sustainability, autonomous vehicles, and other topics for Innovation Village since 2017. In the years since, he has published over 4,000 articles — a mix of breaking news, reviews, helpful how-tos, industry analysis, and more. | Open DM on Twitter @TapiwaMutisi

    Related Posts

    US Tightens Student Visa Rules for Nigerians

    Bolt reports 42% drop in offline trips as in-app safety feature usage surges in Nigeria

    South African Government regains control of Telkom

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Copyright ©, 2013-2024 Innovation-Village.com. All Rights Reserved

    Type above and press Enter to search. Press Esc to cancel.