Logistics and supply chain startups in Africa have a chance to pitch to Reefknot Investments for their funding. Reefknot Investments, a joint venture between Temasek, Singapore’s sovereign fund, and global logistics company Kuehne + Nagel, has announced the launch of a $50 million fund for logistics and supply chain startups. The firm is based in Singapore, but will look for companies around the world that are raising their Series A or B rounds.
Marc Dragon, managing director Reefknot.
Here Is All You Need To Know
- Reefknot Investments is especially interested in companies that are using AI or deep mind tech, digital logistics and trade finance to solve problems that range from analyzing supply chain data and making forecasts to managing the risk of financing trade transactions.
- Managing director Marc Dragon said Reefknot will serve as a strategic investor in its portfolio companies, providing them with connections to partners that include EDBI, SGInnovate, Atlantic Bridge, Vertex Ventures, PSA unBoXed, Unilever Foundry and NUS Enterprise, in addition to Temasek and Kuehne + Nagel .
- Dragon, a veteran of the supply chain and logistics industry, says Reefknot plans to invest in about six to eight startups. Data from Gartner shows that about half of global supply chain companies will use AI, advanced analytics or the Internet of Things in their operations by 2023.
Read Also: African Renewable Energy Startups Get A New Fund
“There is a high level of expectation from vendors that because of technology, there will be new methods to do analytics and planning, and greater visibility in terms of information and product, materials and goods flowing throughout the supply chain,” says Dragon.
Reefknot will also establish a think tank that will work with industry experts and government organizations on forums, research and exploring new logistics and supply chain business models that startups can bring into fruition.
To get in touch with managers of the fund visit Reefknot Investments website
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.