Logistics platform Kobo360 has officially launched operations in the capital of city of Kenya, Nairobi. This officially marks the company’s first physical expansion into East Africa.
The new regional office will be led by Kobo360 CEO for African region, Kagure Wamunyu. The company has been in beta operation in Kenya for five months and has onboarded over 3,000 trucks and truck owners. In the country, the company is already working with companies such as Bidco Africa, Union Logistics Limited, Intraspeed ARCPRO Kenya LTD. Bakhresa Group, Rafiki Millers and McNeel Millers.
Speaking at the official launch event in Nairobi, Wamunyu said, “Kobo360 has a deserved reputation for enabling an agile and connected supply chain, as well as reducing logistics frictions. Over the past five months, our homegrown team have been running operations in beta to ensure that we build a strong fleet of trucks and service businesses in Kenya looking to efficiently move goods.
Joining Wamunyu and the Kobo360 team at the launch were Darshan Chandaria CEO and Director, Chandaria Industries, Rajan Malde CEO, Pwani Oil and Katsutoshi Nishi General Manager, Mitsubishi Itochu. Also in attendance was Ateet Jetha, Managing Director of Exxon Group.
Kobo360 was launched in 2017 by Nigerian entrepreneurs Obi Ozor and Ife Oyedele II. Kobo360 is a technology logistics platform that connects the supply of trucks with the demand for transportation services by cargo owners. Kobo360 also has operations in Uganda, Togo and Ghana.
Kobo360 recently announced that raised $20M (Ksh. 2 billion) Series A equity round led by Goldman Sachs, with participation from Asia Africa Investment and Consulting Pte. and existing investors including TLcom Capital, Y Combinator, the International Finance Corporation. An additional $10M (Ksh. 1B) in local currency working capital financing has been secured from Nigerian commercial banks.