Investors in the technology sector are becoming increasingly discerning when deciding which startups to fund. Startups must offer a clear and unique solution to attract funding.
The looming recession has only added to this heightened scrutiny. The impact of the downturn has already been felt, with several startups and tech giants announcing layoffs, closures of business units, or even complete shutdowns.
Despite these challenges, measures are being taken to mitigate the negative effects of the situation. However, many tech startups are continuing to innovate and disrupt their respective industries despite the uncertain times. One such company that stands out is Sendy.
Arguably the only tech startup in the continent offering robust fulfillment operations, Sendy provides the easiest way for businesses of any size to move goods, enabling them to drive more efficiency and growth.
Sendy’s technology connects businesses to a network of vetted drivers, offering on-demand and scheduled package deliveries, as well as bulk and e-commerce deliveries. The company provides end-to-end tracking, transparency, and accountability while allowing businesses to customize their delivery options.
This has allowed it to become a one-stop shop for businesses looking to streamline their supply chain operations and grow their ventures. Their solution provides an all-in-one solution for efficient and affordable business and retail deliveries.
In 2020 the company raised $20 million in Series B funding led by Atlantica Ventures and Toyota Tsusho Corporation, a trade and investment arm of the Japanese automotive company Toyota. Today Sendy operates in Kenya, Uganda, Nigeria, and Cote d’Ivoire working with small as well as large businesses in the countries.
According to a report by the World Bank, the logistics industry in Sub-Saharan Africa has been growing at a rate of 7.8% annually, making it one of the fastest-growing regions in the world in terms of logistics. The industry is projected to reach a value of $75 billion by 2025, creating opportunities for tech startups like Sendy to leverage technology to improve the efficiency of the supply chain. This growth is being fueled by a number of factors such as the rising middle class, increasing internet penetration, and the proliferation of mobile devices.
Sendy’s success in its past fundraising efforts is a testament to the growing investor interest in logistics tech startups, as well as the potential for innovative logistics solutions in the region. Its innovative approach to logistics is ideally placed to meet the growing demand for efficient and affordable supply chain solutions in Sub-Saharan Africa.
Despite the challenging economic environment, Sendy has continued to grow and expand its operations in Africa. Its focus on delivering value to businesses through offering efficient and affordable logistics is setting up the company for continued growth and success.
With its unique value proposition and proven track record, Sendy is well-positioned to become a leader in the African logistics industry.