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Uganda-based e-logistics tech startup Ridelink has secured $150 000 in a pre-seed funding round led by Ortus Africa Capital, Omidyar Network and African Leadership Academy’s Young Entrepreneurs Fund (Anzisha).
Ridelink secures $150 000 in seed funding
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.”
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.”
Featured image: RideLink founder and head of operations Daniel Mukisa