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

Logidoo, a logistics startup based in Morocco, has successfully raised $1.55 million in seed funding. The company’s aim is to scale up operations and increase its market share. The funding round was led by six venture capital firms, namely Maroc Numeric Fund II and Kalys Ventures from Morocco, 216 Capital from Tunisia, Gullit VC from Ethiopia, Founders Factory Africa from Nigeria, and Sunny Side Venture Partners from Egypt-Japan.

Logidoo’s announced its plans of expansion in 2023, intending to extend its franchise network to an additional five African nations with the help of the newly raised funding.

Founded in 2019 by Tamsir Ousmane Traore, Logidoo provides logistics services through an online platform, which also offers real-time parcel tracking. The company has recently established more executive roles within the team, such as Chief Financial Officer and Chief Operating Officer.

Currently, Logidoo boasts over 3,000 logistics suppliers, operations exceeding 100,000, and 400 clients. It operates in eight African countries, including Morocco, Senegal, Ivory Coast, and Tunisia.

Logidoo focuses on providing end-to-end 5PL logistics across borders, aligning itself with the goals of the African Continental Free Trade Area (AFCFTA). As a more recent and advanced logistics provider system, 5PL takes a holistic view of supply networks rather than simply focusing on individual supply chains.

Logidoo champions inclusivity by welcoming participants from both formal and informal sectors, hoping to increase its market scope. The startup handles a wide range of tasks from transportation operations right through to cash management.

The recent funding also highlights Logidoo’s commitment towards addressing the comparatively low levels of intra-trade within Africa, especially when contrasted with regions such as Asia and the European Union.

As per Crunchbase, Logidoo succeeded in raising a $200,000 seed fund from Kalys Ventures and Launch Africa in March 2022, and had previously secured an undisclosed amount from the International Trade Centre in December 2021.

The startup recently expanded its operations by launching a new subsidiary in Tunisia, extending its reach beyond existing markets in Mauritania, Senegal, Gambia, Mali, and Guinea Conakry. Logidoo anticipates that this new venture will strengthen the connection between Tunisia and West Africa, thereby enhancing commercial ties within the African markets. It is expected that the new subsidiary will lead to shortened transportation times, cost efficiencies, and improved supply chains.