Leta Lands $5M Seed Funding to Enhance Delivery Efficiency in Africa

Anthony Ketter, Kip Maritim, and Nick Joshi

Leta, a Nairobi-based logistics software-as-a-service startup, developed an AI-powered platform designed to optimize delivery routes, track shipments in real-time, streamline payments, and provide businesses with valuable shipping insights. The company has successfully raised $5 million in seed funding to scale its innovative solution, which aims to help businesses transport goods more efficiently and cost-effectively across the African continent. The funding round was led by European venture capital firm Speedinvest, with additional support from Google’s Africa Investment Fund and Equator, a climate tech fund focused on Africa.

In November 2022, Leta secured $3 million in pre-seed funding from various local investors, which was utilized to enhance operations in its five core markets: Kenya, Nigeria, Uganda, Zambia, and Zimbabwe. The company’s load and route optimization technology enables clients to reduce costs and improve delivery efficiency by minimizing the number of vehicles required for distribution. Founder and CEO Nick Joshi explains that Leta integrates directly with businesses’ ERP, POS, and OMS systems, allowing it to pull in live order data such as SKUs, product types, prices, and customer details.

Leta’s real-time mapping capabilities have become a significant asset for Google, one of its investors. Joshi points out that Google Maps has not updated certain areas of Nairobi since 2022, while Leta’s platform continuously refines road and address data based on live customer deliveries. “We’re creating a much more robust map and address layout, which is why I think Google found it interesting,” he explains.

Recognizing the interconnectedness of logistics and financial services, Joshi sees financial offerings as a natural extension of Leta’s software platform and is already piloting several new products. Potential offerings include fuel cards for delivery partners, asset financing for vehicles and devices, and supply chain financing for fast-moving consumer goods (FMCG) merchants.

Deepali Nangia, who leads Speedinvest’s investments in Africa and the Middle East, stated that the firm chose to back Leta because it “leverages logistics as a gateway and fintech as a growth driver, unlocking new business opportunities.” Additionally, Leta’s platform helps businesses reduce fleet sizes without sacrificing delivery capabilities, which in turn lowers fuel consumption and emissions—a key factor for Equator’s investment. Joshi claims that a company operating 70 trucks can save approximately $30,000 monthly by utilizing Leta’s services. While the startup has not yet begun tracking carbon emissions, it aims to focus on this aspect in the coming year.

Currently, Leta powers over 35 major businesses, including global brands like KFC and Diageo, as well as local giants such as EABL and Gilani, optimizing more than 10,000 daily trips across its five markets. Since its previous coverage in 2022, Leta has experienced substantial growth, increasing its deliveries from 500,000 to 4.5 million, moving 20,000 tons to 150,000 tons, and managing 2,000 vehicles to 7,400. As a result, the company’s revenues, generated through a per-delivery pricing model, have grown fivefold, according to Joshi.

Source: Innovation Village