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  • Becky Carter

    5 months, 3 weeks ago
    Lori Systems, an African on-demand logistics and trucking company digitizing haulage and providing shippers with solutions to manage their cargo and transporters, has raised an undisclosed amount in its Series B funding round.

    Google participated in the funding round, along with other existing investors.

    This undisclosed investment is Google’s third from the $50 million Africa Investment Fund targeted at the continent’s early- and growth-stage startups. The fund is part of Google’s plan to invest $1 billion in “tech-led initiatives” over the next five years. 

    Lori Systems seeks to reduce costs with their on-demand logistics and trucking marketplaces, which connect shippers to transportation, help them move cargo, extend working capital facilities and provide them with software to manage their operations. 

    The startup is currently present in Kenya, Uganda and Nigeria. Crunchbase reports that Lori has so far raised a total of $38.2 million.

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Becky Carter is a freelance journalist who hangs around for tips at the bustling intersection of startup news, funding, technology, business, and social impact.

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