MOROCCO – Morocco-based logistics startup, Logidoo, has successfully raised USD 1.55 million in seed funding in a round led by Maroc Numeric Fund II, 216 Capital from Tunisia, and Ethiopia’s Gullit VC.
Notable contributors to the funding include Founders Factory Africa from Nigeria, Egypt-Japanese Sunny Side Venture Partners, and Kalys Ventures from Morocco.
Founded in 2019 by Tamsir Ousmane Traore, Logidoo specializes in intelligent logistics with a vision to create trade corridors among African countries.
The funding comes at a crucial juncture as Logidoo seeks to fortify its presence in Africa and extend its logistical solutions to key countries such as Senegal, Morocco, Ivory Coast, and Tunisia.
Tamsir Ousmane Traore, the founder, expressed the company’s commitment to leveraging the funds for expansion, stating, “This investment allows us to consolidate our position in the market and contribute to the economic development of the continent.”
Logidoo’s distinctive approach focuses on “cross-border end-to-end 5 party-logistics (5PL),” a term coined by the company to highlight its innovative and comprehensive logistics solutions.
This positioning aligns with Logidoo’s broader vision of contributing to the success of the African Continental Free Trade Area (AfCFTA) by facilitating increased intra-African trade.
The startup’s emphasis on cross-border logistics addresses a critical challenge facing Africa – the relatively low intra-trade compared to other regions like Asia and the EU.
In a statement, Logidoo underscored its dedication to becoming a visionary company that goes beyond traditional logistics provision.
Since its establishment in 2019, Logidoo has demonstrated significant operational success. The company has onboarded over 3,000 logistics suppliers, completed more than 100,000 operations, and served more than 400 clients.
Additionally, Logidoo has expanded its footprint to eight African countries. In 2023, the startup initiated an ambitious expansion plan, entering five new African markets.
Founder Tamsir Ousmane Traore, who brings a wealth of experience to the logistics sector, including teaching logistics and serving as the Chairman of the logistics commission within the Senegal Private Sector Association, stated, “Our approach is not just about moving goods; it’s about fostering economic integration and driving the AfCFTA objectives.”
Logidoo’s leadership team includes Mohamed Alaoui, a 3PL and courier specialist with over two decades of experience in Morocco and other regions.
This seasoned leadership, coupled with Traore’s extensive industry expertise spanning ten years, positions Logidoo as a frontrunner in the African logistics landscape.
The successful seed funding round not only marks a significant milestone for Logidoo but also reflects the market’s confidence in the startup’s groundbreaking approach to addressing Africa’s logistical challenges.
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