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GreenTec Capital invests in Kenyan logistics startup Amitruck
German investment firm GreenTec Capital has invested in Kenyan logistics startup Amitruck.
The announcement was made in a statement on Tuesday (7 April). The investor did not disclose how much it had invested in the startup.
Amitruck, was founded by Mark and Timothy Mwangi in 2018, a date confirmed by the Mwangi’s respective LinkedIn profiles (see here and here)
The startup offers and mobile and web based trucking logistics platform that brings together cargo owners and transporters for their mutual benefit.
Amitruck’s solution cuts out expensive middlemen while increasing security
The investor said in the statement that by matching cargo owners with trucking logistics professionals through a digital competitive bidding process, Amitruck brings trust and transparency into the African logistics sector.
It said Amitruck’s solution cuts out expensive middlemen while increasing security as all drivers and vehicles are vetted and goods in transit insured.
GreenTec company builder Maxime Bayen said logistics is a significant challenge in Africa, which the current crisis is only making more obvious.
“Amitruck’s solution has the potential to tackle the fragmentation and lack of trust in the sector while enabling capacity growth by increasing driver and truck owner accessibility to the broader market,” he said.
GreentTech said Amitruck has already demonstrated “impressive traction” and has a strong team prepared to take the company forward.
Featured image: Amitruck via LinkedIn