The news:
- Logidoo, a Pan-African logistics startup that provides cross-border services to eCommerce businesses, has received a $50,000 grant to develop and promote artificial intelligence (AI) solutions for Africa’s logistics market.
- The capital injection is from the International Development Research Centre (IDRC), part of Canada's foreign affairs and development efforts to support research and innovation in developing regions.
- The digital logistics platform will use the new investment to simplify transactions and streamline transport operations, making logistics processes across Africa more efficient and accessible.
Tasmir Ousmane Traore, Founder and CEO of Logidoo, assures that the funding will see the logistics startup develop innovative AI solutions that will significantly improve efficiency, transparency, and affordability within the African logistics market.
Founded in 2019, Logidoo's long-term plan includes establishing a highly efficient network, reducing operational costs and transit durations, and improving customer satisfaction.
The company expects these improvements to empower African businesses to expand into new markets across the continent.
Earlier in the year, the logistics startup raised $1.55 million in seed funding from a consortium of venture capitalists, Including Nigeria’s Founders Factory Africa, to expand its logistics solutions to Senegal, Morocco, Ivory Coast, and Tunisia.
The new investment, focusing on AI solutions, will focus on intelligent algorithms to optimise delivery routes, cut travel times, and reduce fuel consumption.
Additionally, part of the funding will go towards automating tasks and predictive maintenance to prevent costly breakdowns.
Based on these oncoming AI solutions, Logidoo has set its eyes on ambitious targets: reducing delivery times by 20%, cutting operational costs by 15%, and increasing on-time delivery rates by up to 95%.
Furthermore, the company plans to take its operations to 10 new African countries within the next two years and increase its customer base by 50%.
Beyond making Africa’s transportation solutions transparent, faster, and more affordable, Logidoo says the advancements will make logistics services more accessible to businesses of all sizes, contributing significantly to the continent's economic growth.
Give it a try, you can unsubscribe anytime. Privacy Policy.
“Our vision goes beyond immediate gains. We believe that AI-powered logistics solutions are key to unlocking the full potential of African economies,” Ousmane concluded.
