Kenyan supply chain and logistics startup Leta has secured a $3M pre-seed equity round.
The funding round was led by 4Di Capital, Chandaria Capital, Chui Ventures, PANI, Samurai Incubate and Verdant Frontiers Fintech.
Angel investors in the funding rounds include the Founder of Cellulant, Ken Njoroge and Google Regional Director, SSA, Government Affairs and Public Policy, Charles Murito.
Nick Joshi is the Founder and CEO of Leta brought into the firm experience spanning over a decade working in the New York startup tech ecosystem.
“We are proud to be building the backend of supply chain and logistics in Africa, saving our customers 20-30% on their logistics costs.” Joshi said, “Much like the US and Europe, the supply chain and logistics industry in Africa is highly fragmented and lacks efficiency. However, in Africa, the supply chain & logistics costs are typically 60-70% higher, which is then passed to the end consumer.” He said.
Founded in 2021, the start-up uses artificial intelligence to enable the efficient and automated movement of goods for businesses.
The company’s mission is to lower the cost of moving goods for businesses to reduce the cost to end consumers. Leta can achieve this through its proprietary route and load optimization technology that reduces the number of assets required for B2B and B2B2C customers to complete deliveries while continuously improving service delivery.
Through its more than 20 active customers, the supply chain and logistics SAAS provider has optimized more than 500,000 deliveries, delivered over 20,000 tonnes and managed 2000 plus vehicles.
Leta operates in Kenya, Tanzania, Zimbabwe, Uganda and Zambia.