Logidoo, an African company that deals with logistics and online shopping, has received a boost of $1,55M from investors.
These investors include Maroc Numeric Fund II from Morocco, 216 Capital from Tunisia, Gullit VC from Mauritius, Founders Factory Africa from Nigeria, Sunny Side Venture Partners from Egypt and Japan, and Kalys Ventures from Morocco.
This funding is a big milestone for Logidoo. It also shows that people believe in Logidoo’s new way of solving this big problem in Africa.
Africa doesn’t trade much within its own countries compared to places like Asia and Europe, and Logidoo is focused on moving things across borders.
This makes it more than just a regular logistics company. It helps make the African Continental Free Trade Area (AFCFTA) idea real.
Logidoo is based in Senegal, Morocco, Ivory Coast, and Tunisia. It’s an online platform that covers the entire logistics value chain.
This includes transportation and managing cash. It also covers both formal and informal businesses.
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Logidoo Driving Cross-Border Success in African Logistics.
Logidoo is known as a “Cross-border end-to-end 5PL” provider. This means they offer complete logistics solutions across borders, which is unique in the market.
The company has been successful so far. It has gathered over 3,000 logistics suppliers, completed more than 100,000 operations, served over 400 clients, and are in 8 African countries.
They have been making a profit since January 2023, which is rare for startups in this industry.In 2023, Logidoo started expanding to five more African countries.
This plan is backed by the recent funding, which aims to strengthen Logidoo’s presence in Africa.
They have also brought in experienced executives to strengthen the team, including key positions like CFO and COO, enhancing the executive leadership.
The founders, Tamsir Ousmane Traoré and Mohamed Alaoui, have extensive experience in logistics.
Tamsir has been teaching logistics and leading the logistics commission in Senegal. Mohamed has over 20 years of experience in Morocco and nearby regions.
They make a strong team, which gives confidence in Logidoo’s future.