Nigeria’s OnePort 365 secures $5m seed spherical to digitise freight administration throughout Africa
Nigerian startup OnePort 365, a digital freight forwarding firm that makes it simpler to maneuver cargo to, from and inside Africa, has raised US$5 million in seed funding to drive the end-to-end digitisation of freight administration in Africa and help its enlargement into new markets throughout the continent.
OnePort 365 has developed a freight forwarding platform that allows merchants to effectively and conveniently transfer cargo to, from and inside Africa, offering full transparency, visibility and management, minimizing value inefficiencies and eliminating effort and time inefficiencies ensuing from conventional provide chain administration strategies.
With energetic operations in Nigeria and Ghana, the startup is constructing an working system for cross-border commerce in Africa, and it has now raised a US$5 million seed spherical to help its efforts. The spherical was led by Mobility 54, the VC arm of Toyota Tsusho and CFAO Group, with participation from SBI Funding, Flexport, ODX, a Singaporean syndicate fund and different strategic angel buyers. Samurai Incubate additionally re-invested after taking part within the earlier spherical.
OnePort 365 is exploring enlargement into new markets, a course of this funding will help, whereas it additionally plans to ship a variety of latest providers that can enhance profitability throughout the board.
“We’re tremendous excited to have these buyers onboard to help our mission to optimise cross-border buying and selling throughout the continent. With new laws just like the Africa Continental Free Commerce Settlement creating the potential for a brand new period of commerce on the continent, we need to make it simpler for merchants to maximise the chance. We consider managing freights needs to be as simple as reserving a flight or ordering a ride-hailing service and we’re constructing the working system to make this potential,” mentioned Hio Sola-Usidame, CEO and founding father of OnePort 365.
Takeshi Watanabe, CEO of Mobility 54 Funding SAS, mentioned he was delighted to help the OnePort 365 crew because it launched into the journey of digitising the end-to-end freight administration course of in Africa.
“There may be nice potential to unlock vital industrial alternatives throughout the continent by addressing the longstanding challenges which have made it tough to maneuver freights into and across the continent, and we’re assured that OnePort 365 has what it takes to succeed,” he mentioned.