Leta, a Nairobi, Kenya-based supply chain and logistics startup, closed $3 million pre-seed equity funding to continue to expand its supply chain and logistics platform across Africa.
The investment was from various investors, including 4Di Capital, Chandaria Capital, Chui Ventures, PANI, Samurai Incubate, and Verdant Frontiers Fintech.
Angel investors Ken Njoroge, Founder of Cellulant, and Charles Murito, Google Regional Director, SSA, Government Affairs and Public Policy also participated in the round.
Nick Joshi founder and CEO of Leta says, “We are proud to be building the backend of supply chain and logistics in Africa, saving our customers 20-30% on their logistics costs. Much like the US and Europe, Africa’s supply chain and logistics industry is highly fragmented and lacks efficiency. However, in Africa, the supply chain & logistics costs are typically 60-70% higher, which is then passed to the end consumer. With Leta, we plan to offer a robust and easy-to-use solution for moving goods while doing it much more efficiently. We are also excited by the downstream potential of additional services we can offer through the platform. The solution also has global applications and not only in emerging markets. We are raising a seed round to further our Pan-African expansion and launch our transport marketplace and fintech-powered products.”
Leta’s customers include Twiga Foods, Chandaria Industries, Simbisa Brands, and ShopZetu. The company claims to have optimized 500,000+ deliveries, delivered 20,000+ tonnes, managed 2000+ vehicles, and launched operations in five countries, including Kenya, Tanzania, Zimbabwe, Uganda, and Zambia.
Company: Leta Technologies Ltd.
Raised: $3.0M
Round: pre-Seed
Funding Month: November 2022
Lead Investors:
Additional Investors: Di Capital, Chandaria Capital, Chui Ventures, PANI, Samurai Incubate and Verdant Frontiers Fintech, Ken Njoroge, and Charles Murito
Company Website: https://leta.ai/
Software Category: B2B Supply Chain and Logistics
About the Company: Founded by Nick Joshi in 2021, Leta is a B2B supply chain and logistics SaaS provider that uses artificial intelligence to enable the efficient and automated movement of goods for businesses. The company’s mission is to lower the cost of moving goods for businesses to reduce costs to end consumers. Leta can achieve this through its proprietary route and load optimization technology that reduces the number of assets required for B2B and B2B2C customers to complete deliveries while continuously improving service delivery. The Kenyan company works with companies in food and beverage, fast-moving consumer goods, agriculture, manufacturing, construction, e-commerce, pharmaceuticals, and NGOs, among others. Founded in New York and built in Nairobi.
Source: https://techfundingnews.com/kenyan-logistics-saas-leta-snaps-3m-to-help-businesses-optimise-supply-chain-through-ai/