Leta, a Nairobi-based supply chain and logistics startup, has close a $3 million pre-seed equity round from various investors, including 4Di Capital (invested in Numida), Chandaria Capital, Chui Ventures, PANI, Samurai Incubate and Verdant Frontiers Fintech.
The round also saw participation from angel investors Ken Njoroge, Founder of Cellulant, and Charles Murito, Google Regional Director, SSA, Government Affairs and Public Policy.
Supply chain and logistics
Founded by Nick Joshi in 2021, Leta is a supply chain and logistics startup that 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 costs 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.
Commenting on the raise, Joshi says, “We are proud to be building the backend of supply chain and logistics in Africa, saving our customers 20-30% on their logistics costs. Much like the US and Europe, Africa’s supply chain and logistics industry 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. With Leta, we plan to offer a robust and easy-to-use solution for moving goods while doing it much more efficiently. We are also excited by the downstream potential of additional services we can offer through the platform. The solution also has global applications and not only in emerging markets. We are raising a seed round to further our Pan-African expansion and launch our transport marketplace and fintech-powered products.”
Optimised 500,000+ deliveries
The Kenyan company works with companies in food and beverage, fast-moving consumer goods, agriculture, manufacturing, construction, e-commerce, pharmaceuticals, and NGOs, among others.
Some of Leta’s customers include Twiga Foods, Chandaria Industries, Simbisa Brands, and ShopZetu.
The company claims to have optimised 500,000+ deliveries, delivered 20,000+ tonnes, managed 2000+ vehicles, and launched operations in five countries, including Kenya, Tanzania, Zimbabwe, Uganda, and Zambia.
“As a leading FMCG player in the region, we continuously focus on optimizing our business to best service the growing demand. Leta has played a pivotal role in helping us streamline our last-mile distribution, and we’re seeing meaningful savings on logistics costs and improved service delivery time. After working closely with the Leta team, we were impressed with the team, the technology they are building, and the scale of the problem they are solving, which prompted our investment from Chandaria Capital.” commented Darshan Chandaria, CEO of Chandaria Capital.