What's Hot

    SDX Energy announces gas discovery in Sebou Basin, Morocco

    October 2, 2023

    Africa Energy Week – Set to be bigger than ever

    September 29, 2023

    Unlocking Nigeria’s maritime potential – NESG explores path to prosperity

    September 27, 2023
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      Africa Energy Week – Set to be bigger than ever

      September 29, 2023

      India reveals expansive rail and ports corridor for Middle East and South Asia

      September 13, 2023

      Green energy – UAE funds African projects through $4.5 billion initiative

      September 6, 2023
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Unlocking Nigeria’s maritime potential – NESG explores path to prosperity

      September 27, 2023

      CYNK – Africa’s first verifiable carbon market launches in Kenya

      September 22, 2023

      Ionic Rare Earths engages DRA Global to advance Makuutu Development

      September 20, 2023
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      MENAT to see investment flows increase substantially

      Business Business & Trade Finance September 4, 2023
      Recent

      MENAT to see investment flows increase substantially

      September 4, 2023

      Ballim – GGC can play a major role in Africa

      July 17, 2023

      Africa50 invests USD 6.6bln in infrastructure over 6 years

      July 7, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Logistics

    Haul247 secures USD 3M in seed funding

    June 19, 20233 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Haul247
    Sehinde Afolayan of Haul247 claims that Africa's logistics sector is hampered by a range of issues/
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Haul247, a Nigerian end-to-end logistics tech platform connects businesses to haulage and warehousing assets.

    Haul247, a Nigerian end-to-end logistics tech platform has raised US$3 million in seed funding to increase its market share in Nigeria, expand to other African markets, recruit talent, and develop its technology, according to the company. The platform aims to connect businesses to haulage and warehousing assets within a single ecosystem.

    Haul 247 – Connecting companies with shipping solutions

    Founded by Sehinde Afolayan, Tobi Obasa and Akindele Phillips in 2020, during the COVID lockdowns, Haul247 is a marketplace that connects companies with shippers and storage options, seeking to reduce transportation costs and to provide all-round efficiencies in shipping and logistics.

    The company has a fleet of over 1,000 trucks and approximately 151,000 sqm of warehouse space across various locations, and is now set for further growth after completing the USD 3 million seed round. The round was led by Alitheia Capital via its uMunthu Fund, and also involves debt funding from Investment One. The investment follows a pre-seed funding round in 2021, while last year Haul247 was selected as one of the recipients of the Google for Startups Black Founders Fund.

    A lack of infrastructure

    CEO Afolayan said this round of funding would enable the company to cement its position as Africa’s Airbnb for trucks and warehouses, “Africa’s logistics sector continues to be hampered by a lack of supporting infrastructure, bottlenecks in service delivery, and a widespread informal approach to logistics business. Over 80 per cent of the market is dominated by informal carriers operating with one to three vehicles,” he said.

    “We founded Haul247 to address the supply-demand mismatch in the ecosystem, and this funding will enable us to optimize logistics service delivery in key African markets. With the support of our investors, we will expand to new markets, recruit more talent and develop our technology to make logistics even more accessible and efficient for businesses in Africa.”

    A seamless logistics solution

    Tokunboh Ishmael, managing partner at Alitheia Capital, said her firm was excited to be at the forefront of optimizing logistics service delivery in key African markets, as trade and commerce were key levers for driving development, “Our investment further enables Haul247 to provide a seamless logistics solution for transporting and storing goods across the continent in a way that unlocks value and amplifies impact for individuals and companies throughout the value chain,” she said.

    Trella and Messenger are just two examples of African logistics startups that are seeking to address the continent’s specific challenges as the sector gains increasing attention from global VC firms.

    Haul247 logistics nigeria Startups
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleEcobank launches single market trade hub to drive intra-African trade
    Next Article Afreximbank to boost intra-African trade with insurance subsidiary

    Related Posts

    Business Energy Infrastructure

    Africa Energy Week – Set to be bigger than ever

    September 29, 2023
    Business & Trade Trade Trade Finance

    Unlocking Nigeria’s maritime potential – NESG explores path to prosperity

    September 27, 2023
    Agri commodities Agri-Business Business & Trade Commodities

    Ugandan agritech startup Emata secures USD 2.4 million in seed funding

    September 15, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    LATEST STORIES

    SDX Energy announces gas discovery in Sebou Basin, Morocco

    October 2, 2023

    Africa Energy Week – Set to be bigger than ever

    September 29, 2023

    Unlocking Nigeria’s maritime potential – NESG explores path to prosperity

    September 27, 2023

    Oman’s Duqm Refinery completes start-up

    September 25, 2023

    CYNK – Africa’s first verifiable carbon market launches in Kenya

    September 22, 2023
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.