Kobo360
Pan African Logistics company
From Wikipedia, the free encyclopedia
Kobo360 is an African tech-enabled digital logistics platform, headquartered in Lagos and connects cargo owners to truck owners, with a physical presence in 6 African countries, including Nigeria, Ghana, Kenya, Burkina Faso, and Ivory Coast.
Company type | Private |
|---|---|
| Industry | Logistics services |
| Founded | 2018 |
| Founder | Obi Ozor and Ife Oyedele II |
| Headquarters | , Nigeria |
Area served | Sub-Saharan Africa |
| Products | transport, clearing and forwarding, and warehousing services |
| Website | https://kobo360.com |
Kobo's mission is to simplify Africa's logistics and supply chain by making it more efficient through technology.[1][2][3] Its customers are mostly large multinationals and manufacturing and production companies.[4] Kobo360's platform matches cargo owners with truck owners to solve the delay faced in getting goods delivered on time.[5][6] The company was founded by Obi Ozor and Ife Oyedele II. Kobo360 also has an app that enables users to carry out their activities easily.[7][8][9]
In 2019, Kobo360 had achieved product-market fit, and the company was rapidly expanding as a result of a $30 million equity and debt investment from Goldman Sachs, International Finance Corporation, TLcom Capital and other investors.
In an interview with TechCrunch, KOBO360 CEO, Obi Ozor [10] described the issues that arose as a result of the pandemic and the need to rethink strategy. He also discussed how the company dealt with them, as well as its current state of stable growth and sustainability.[11]
In March 2023, Kobo360 was listed among the "25 Rising African Tech Startups To Watch Out For In 2023" by African Folder.[12]
Funding and investments
Kobo360 raised $20 million in a Series A round headed by Goldman Sachs in 2019[13] and $10 million in working capital funding from Nigerian commercial banks.[14][13]
Kobo360 raised an additional $56 million in its series B round led by Afrexim Bank's equity arm - The Fund For Export Development in Africa (FEDA), with participation from existing investors.[15]
Awards and recognition
Leadership
In August, 2023, Cikü Mugambi, was announced as the new CEO, as Obi Ozor stepped aside following his political appointment.[18][19] Fola Adeola, a seasoned entrepreneur and investor, was also appointed as the Chairman of the Board of Directors.[20]