Supply Chain Council of European Union | Scceu.org
Technology

Logistics startup Sote, raises $3m in seed round

Sote is looking to capitalize on the economic growth and social change witnessed in Africa. Their main focus is on the transformation of the logistics infrastructure sector. The company announced a $3 million seed funding that will support its Nairobi and San Francisco offices while transforming the logistical infrastructure for African shipping beginning with customs and clearance.

Sote is co-founded by Meka Este-McDonald and  Felix Orwa who are excited for the owners of Africa’s first licensed tech-powered clearing and forwarding service to build its digital logistics infrastructure.

In the structured business model, Sote outlined the benefits for both industrial importers and exporters and other partners in the supply chain. The company has recorded a steady 33% monthly growth as it scales across the $430 billion market while organizing Africa’s fragmented supply chain.

The innovative tech around Sote has helped them scale 10 times over traditional learning and forwarding companies.  The new funding will help the Logitech startup target the 20 million import and export containers in Africa.

According to TechCrunch, Sote will be pitching a software service that facilitates seamless customs clearance and forwarding while giving industrial cargo owners a centralized dashboard for all parties involved.

The new software can be adopted by other logistics operators to manage freight control and forwarding management while tracking the status of their shipments, payment histories, and container arrival times.

Related posts

ASX gains on banks, miners; Boral’s Fagg to retire in 2021 – The Australian Financial Review

scceu

Worldwide Growth Of Software and System Modeling Tools Market During 2020-2029 | Value, Profit, Demand , Size, Market Volume and Sales

scceu

Automotive Blockchain Market 2030 Future Product Development Plans | Covid-19 Impact Analysis | Industry to Reach $5.61 billion by 2030

scceu

Leave a Comment