30 Million USD Investment by Goldman Sachs in Nigerian Logistics Startup Kono360
Technology startups that digitize Logistics Management continue to spread around the world. Nijerja-based Kobo360, which was launched in Nigeria in 2017 and aims to grow in Africa alongside Ninerja, has managed to attract the attention of Goldman Sachs, one of the world’s leading investment funds.
With this investment, Golman Sachs has shown that it continues to invest in promising logistics technologies in developing countries. He invested 20 Million USD in Kobo360 as a Series A investment. Goldman Sachs also invested in CargoX in 2016, which is on its way to becoming the first unicorn to come out of Brazil.
Kobo360 also received $10 million in working capital funding from Nigerian Commercial banks at the same time.
Bringing together those who carry cargo and those who carry cargo on a digital platform with a business model similar to UBER, Kobo360 still operates in Togo, Ghana and Kenya as well as Nigeria and aims to expand to 10 countries.
The platform, which has more than 10 thousand trucker members, serves global groups such as Honeywell, Olam, Unilever, Dangote and DHL.
With the fund of 30 million USD, Kobo360 will invest in its digital infrastructure, expand its operation network in 10 countries and design a new generation payment system that will be supported by blockchain infrastructure.
Click the news link for details: https://techcrunch.com/2019/08/14/nigerian-logistics-startup-kobo360-raises-30m-backed-by-goldman-sachs/