Nigeria’s logistics startup, Kobo360, raises another $30 million to aid Africa expansion

by | Aug 14, 2019

Lagos-based technology-enabled digital logistics platform, Kobo360 has just received a $30 million investment.

$20 million from US-based investment firm Goldman Sachs and $10 million from debt financing made up the $30 million investment. This recent funding may be the biggest single round investment by a Nigerian company in 2019.

The new funding will allow Kobo360 to upgrade its platform and expand to 10 other countries in the African continent.

They currently operate in Nigeria, Togo, Ghana, and Kenya.


Known for their driver-focused operations, the logistics startup launched a suite of services catering to its personnel such as KoboCare. This is a solution for registered drivers  on the Kobo360 platform to access services from discounted fuelling options to HMO packages.

Kobo 360 Startup Interview 53

Kobo360 Founders Obi Ozor (left) and Ife Oyedele (right)

With $4bn revenue in 2017 alone, the Nigerian transportation industry is growing every year at a compound growth rate of 6.8%, MarketLine reports.

Kobo360 stated that it will use part of its $30 million funding to build out its blockchain-enabled Global Logistics Operating System (GLOS) to help the company transition to more supply chain services.

In June 2018 Kobo360 reportedly raised $1.2 million, followed by an additional sum of $120,000 from Y-Combinator in July 2018. Then in December 2018, Kobo360 received $6 million.

However, this $30m seed round is the African logistic company’s biggest investment to date, which brings their total funding received to about $37.32 million till date.

Udoka Chiefe
Udoka Chiefe

Writer | Learner| Technologist

Interested in technology, law and new discoveries.


On January 22, 2022, be part of the largest gathering of innovators, startup founders, thinkers, programmers, policymakers, and investors in West Africa. Register free.

Notify of
Inline Feedbacks
View all comments

Recent News

Uber’s bet on ‘Okada’

Uber’s bet on ‘Okada’

Today on #TechpointDigest, @nifemeah discusses Uber’s launching its motorbike hailing service, UberMoto, in Ibadan.

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Crypto Explorer

A monthly series featuring in-depth analysis on the cryptocurrency sector in Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap