Lori Systems, a trailblazing venture-backed start-up revolutionizing trucking logistics in Africa, is thrilled to announce the successful closing of a landmark raise amounting to $2,000,000 from globally leading institutional and strategic investors. Founded on the vision to overhaul a market where up to 75% of a product’s cost is attributed to logistics—compared to just 6% in the US—Lori Systems is tackling an enormous challenge, considering that a staggering $180 billion is spent annually on haulage across the continent. The company has established a tech-enabled, operations-driven marketplace that seamlessly connects transport providers with cargo shippers, ushering in unprecedented transparency, enhanced reliability, and flexibility for its customers. Since launching its product in May 2017, Lori Systems has experienced an impressive 30% month-over-month compounded growth, clearly reflecting the surging market demand for its innovative supply chain management system.
This new funding injection is set to accelerate Lori’s mission by further developing its platform capabilities, expanding its operational footprint, and driving additional cost efficiencies that have already resulted in savings upwards of 18% for users. Moreover, the investment will support the scaling of Lori's next-generation technologies and enhance the company’s competitive advantage in an industry ripe for disruption, especially as the benefits of improved logistics extend far beyond cost savings, touching every facet of supply chain management. The recent victory at TechCrunch Battlefield Africa is a testament to the company’s potential and capability to lead logistics transformation across Africa. With this funding milestone, Lori Systems is poised to redefine efficiency and catalyze a new era of logistics innovation across the continent.
