Moroccan Logistics Innovator Logidoo Raises $1.55M in Seed Funding Round

Moroccan Logistics Innovator Logidoo Raises $1.55M in Seed Funding Round

By Staff Writer, 16 February 2024

Logidoo, a rising star in Africa's e-commerce and logistics sector, has announced a significant boost in its seed funding, raising a substantial $1,550,000.

This investment round, led by a consortium of venture capital firms including Maroc Numeric Fund II from Morocco, 216 Capital from Tunisia, Gullit VC from Ethiopia, Founders Factory Africa from Nigeria, Sunny Side Venture Partners representing Egypt and Japan, and Kalys Ventures based in Morocco, underscores Logidoo's pivotal role in reshaping the logistics landscape across the continent.

The infusion of funds represents a major milestone for Logidoo, reflecting investor confidence in its innovative approach to addressing a critical challenge in Africa: the relatively low level of intra-regional trade compared to other regions such as Asia and the EU.

By focusing on "Cross-border" logistics, Logidoo transcends conventional models, actively contributing to the realization of the African Continental Free Trade Area (AFCFTA).

Distinguished as a "Cross-border end-to-end 5PL" provider, Logidoo's designation encapsulates its pioneering strategy, setting it apart in the logistics sphere.

This motto underscores the company's commitment to delivering unmatched, comprehensive cross-border logistics solutions.

Logidoo has demonstrated remarkable market impact and operational prowess.

With over 3,000 logistics partners, execution of more than 100,000 operations, service to over 400 clients, and a presence in 8 African countries, the company has established itself as a force to be reckoned with.

Achieving positive EBITDA status since January 2023 further underscores Logidoo's financial stability and business acumen, differentiating it from other logistics startups that often struggle with cash flow.

In 2023, Logidoo embarked on an ambitious expansion strategy, extending its franchise network into five additional African nations.

Bolstered by the recent funding, this initiative aims to amplify Logidoo's footprint across the continent.

A key component of this expansion has been the recruitment of seasoned executives, including the appointment of new CFO and COO roles, strengthening the company's leadership.

The company's founder, Tamsir Ousmane Traoré, leveraging his extensive logistics expertise, including roles in education and as Chairman of the logistics commission within the Senegal Private Sector Association, along with Mohamed Alaoui, a veteran in 3PL and courier services with over two decades of experience in Morocco and the surrounding region, epitomizes an ideal Founder-Market Fit, instilling confidence in Logidoo's strategic trajectory.

Source: EntArabi

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