Human endeavors necessitate the use of logistics. Transporting goods from one location to another can be a headache for businesses, but with the rise of logistics startups, things are becoming easier for businesses, and these firms are gaining steam.
As such, Chargel, a Senegalese logistics company, has acquired $750,000 in pre-seed capital to assist in improving the efficiency, reliability, and transparency of the trucking industry in Senegal and Francophone West Africa.
The startup was co-founded by Moustapha and Alioune Ndoye, it connects shippers with the appropriate transporters at the right price, as well as managing payments, fuel management, insurance, and other services.
The business is establishing Senegal’s biggest trucking network, making it easy for thousands of shippers to interact with transporters and allowing transporters to maximize their truck potential.
Chargel recently announced that it has secured a pre-seed round of $750,000 to kick-start its activities in Senegal.
Century Oak Capital and Logos Ventures, as well as famous angel investors from Senegal, Kenya, Ghana, and Nigeria, participated in the round, which included a mix of equity and debt.
The cash would be used to get Chargel’s operations off the ground and ready the startup for a seed round later this year, according to co-founder and CEO Moustapha Ndoye.
Moustapha expresses his delight at the positive reception Chargel has received from shippers and carriers during its pilot period, and he can’t wait to get started on the company’s aim to make trucking in Senegal more effective, reliable, and transparent. He expressed his gratitude to the investors for their confidence in Chargel’s team and their belief in the firm.
Raja Kaul, the founder and managing partner of Logos Ventures, said he was pleased to support the Chargel founders as they fight to improve Senegal’s trucking industry.
He went on to say that they have faith that Moustapha and Alioune are well-positioned to establish Chargel into a leading logistics marketplace in Senegal, and ultimately across West Africa, based on their vast entrepreneurial experience, which includes founding and exiting Teranga Solutions to HotelOnline, as well as working at Senegal’s first unicorn Wave Mobile Money.
Techbuild’s Take
In today’s worldwide corporate climate, logistics is critical to trade facilitation and has become a critical component of business growth.
However, logistics management is difficult to streamline due to fluctuating client needs and complex company models.
We’ve noticed a noticeable change in how people move objects and around in recent years. Digitization has made its way into the transportation and logistics sector as African start-ups create solutions for transporting goods.
The possibilities for logistics firms in the retail and manufacturing sectors are particularly promising, thanks to a period of sustained expansion in several African countries.
Investors are motivated by economic and commercial potential to address Africa’s short-term logistics problems and enable these firms to develop and grow into other regions.
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