Africa’s Airbnb for trucks and warehouses raises seed funding
Haul247, an end-to-end logistics tech platform connecting businesses to haulage and warehousing assets, has raised $3 million in a seed funding round. Haul247 will use the investment to increase its market share in Nigeria, expand to other African markets, recruit talent, and develop its technology.
Alitheia Capital led the $3 million seed funding round via its uMunthu Fund, while Investment One also participated. This follows a pre-seed funding round in 2021 by Khafid Gbadamosi and Horsham Gates.
With over a thousand trucks on its roster and about 151,000m2 of warehouse space available across various locations, Haul247 provides a platform for businesses to seamlessly book trucks and warehouses across multiple geo-locations in Africa using real-time technology.
Africa’s logistics industry remains fragmented, with over 80% of the market being operated by informal carriers that own one to three vehicles.
“Africa’s logistics sector continues to be hampered by a lack of supporting infrastructure, bottlenecks in service delivery, and a widespread informal approach to logistics business,” says Sehinde Afolayan, CEO of Haul247.
“Our platform connects businesses with reliable and efficient haulage and warehousing assets, making the movement of goods across the continent easier and faster. With the support of our investors, we will expand to new markets, recruit more talent and develop our technology to make logistics even more accessible and efficient for businesses in Africa,” he adds.