Kenyan supply chain and logistics startup Leta has secured a $3M pre-seed equity round led by 4Di Capital, Chandaria Capital, Chui Ventures, PANI, Samurai Incubate and Verdant Frontiers Fintech. The funding round also attracted angel investors Ken Njoroge, Founder of Cellulant and Charles Murito, Google Regional Director, SSA, Government Affairs and Public Policy.
The startup founded in 2021 leverages artificial intelligence(AI) to enable efficient and automated movement of goods for businesses. The B2B firm says that its technology also reduces the number of vehicles needed for distribution which helps to save cost and increase competitiveness.
Nick Joshi is the Founder and CEO of Leta brought into the firm experience spanning over a decade working in 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.
The CEO said the company plans to offer a robust and easy-to-use solution for moving goods more efficiently.
The startup works with companies in the FMCG, helping them to streamline operations by tracking including optimized and automated route & load planning, fuel tracking, distance traveled, and idle time.