Ugandan E-logistics Startup Ridelink Secures $150 000 in Pre-seed Funding

Ridelink which operates an e-logistics platform developed to connect small and medium-sized enterprises to a network of transport operators at the tap of a button has secured $150 000 in a pre-seed funding round led by Ortus Africa Capital (an investment advisory firm), Omidyar Network (impact investment firm), and African Leadership Academy’s Young Entrepreneurs Fund (Anzisha).

Daniel Mukisa, CEO of Ridelink explains what the funding will be used toward. 

“We plan on using the capital raised to build globally competitive and robust technology and accelerate our marketing campaigns.” 

Ridelink 

Founded in 2017, Ridelink is an e-logistics platform that connects SMEs to a network of transport operators all on one simple and easy-to-use platform. According to reports, the tech startup has utilised over 250 SMEs and with over 2000 drivers delivering Cargo throughout East Africa. 

Through the use of technology, the tech startup aims to simplify the process for SMEs to distribute their products, increase revenue earning and improve business performance. The platform caters to SMEs in the urban, peri-urban and rural Uganda, Kenya and Tanzania. 

 Kenneth Legesi CEO/CIO at Ortus Africa Capital comments on the investment made into the tech startup. 

“At Ortus Africa Capital we are glad to add Ridelink to our story of creating impact through the provision of much-needed capital to entrepreneurs growing Africa’s economies. By co-investing alongside the Young Entrepreneurs Fund and backing African entrepreneurs with local capital, we hope this helps the entrepreneurs grow but also gives confidence to other investors in the African ecosystem to join us on this journey.”

“The Young Entrepreneurs Fund is designed to incentivize co-investments into graduates of our programs like Daniel who have chosen to become career entrepreneurs. Ridelink demonstrates the ability of very young Africans to build job generative businesses and is a compelling business case for why we should all consider the opportunity to invest younger,” says Thokoza Mjo of the Anzisha Prize, who manages the fund.