Trucking logistic startup Amitruck has announced an undisclosed investment led by the USA-based Dynamo Ventures with participation from Plug and Play Ventures and a collection of strategic angel investors
The funds will be used to expand its growing client base in East Africa.
Launched in 2019 in Kenya, Amitruck is a trucking logistics marketplace that brings trust, transparency and efficiency by connecting truckers with shippers using its web and mobile application, side stepping middlemen and brokers.
“We are excited to be investing in Amitruck given the momentum it has achieved over the last 12 months particularly in light of the challenges associated with COVID-19. We see many similarities between Amitruck and Sennder which we invested in at a very similar stage of their lifecycle,” said Barry Large from Dynamo Ventures who previously was a board director at Sennder “and believe Amitruck has the potential to become equally as successful.”
Plug and Play Ventures is a seed and early-stage venture capital firm focused on investing in emerging growth companies. This is the venture arm of Plug and Play, an innovation platform, bringing together startups and the world’s largest corporations.
“I look forward to working with Dynamo Ventures and Plug and Play Ventures who alongside their investment bring a huge amount of experience building and scaling companies and access within the logistics sector,” said Mark Mwangi, founder and CEO of Amitruck.
