Lori Systems a logistics startup has secured funding and support from Imperial, an African and European-focused provider of integrated market access and logistics solutions, to expand its product across Africa.
Founded in 2016, Lori Systems provides supply chain management solutions to cargo owners, ensuring flexibility, reliability and cost savings. The startup started its operations in Kenya and later expanded to Uganda, Rwanda and South Sudan in 2018, and last year expanded to Nigeria.
The Imperial Venture Fund, managed by Newtown Partners – a US-based venture capital firm – made the investment in Lori Systems to support its growth in East and West Africa, while their partnership in the Southern African Development Community (SADC) region will help develop and enhance Africa’s road freight industry through digital innovation and enablement.
Lori co-founder and chief executive officer (CEO) Josh Sandler, had this to say, “As a leading African logistics and market access player, innovation is at the heart of Imperial, and we couldn’t be more proud to partner with an industry veteran that embraces this digital disruption while expanding Lori’s reach across Southern Africa.”