Sendy Limited (“Sendy”), Mobility 54 Investment SAS (“Mobility 54”), and CFAO SAS (“CFAO”), the corporate venture capital (“CVC”) subsidiaries of Toyota Tsusho Corporation (“Toyota Tsusho”) and CFAO SAS (“CFAO”), have decided to join Kamtar International (“Kamtar”) in a series A funding round side by side with Saviu Ventures.
Sendy’s investment and partnership with Kamtar are in line with the company’s long-term goal of becoming a Pan-Africa logistics platform.
Kamtar will bring its substantial client network in French-speaking West Africa, while Sendy will bring its deep tech knowledge and broader variety of services to support Kamtar’s operations and growth in West Africa.
Toyota Tsusho/CFAO group is dedicated to operationally and financially supporting Sendy’s Pan-Africa expansion and Kamtar’s product development through Mobility 54’s engagement.
In order to produce win-win synergies, the group will also increase the use of Kamtar/logistics Sendy’s services by utilizing its enormous network in French-speaking West Africa in the automotive, consumer goods, and retail sectors.
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Through its CVC — Mobility 54 –, the Toyota Tsusho/CFAO group will continue to invest in startup partners with new technology and services for Africa. The group is working to address Africa’s social and industrial concerns by assisting innovative partners in expanding their businesses and forging strong synergies between our organization and potential partners.
Because of strong economic expansion, the rise of e-commerce, and the start of the African Continental Free Trade Agreement (AfCFTA), which began in January 2021, demand for efficient logistics solutions in Africa is increasing.
According to the World Bank, the AfCFTA will raise intracontinental commerce from 294 billion dollars to 532 billion dollars by 2035. Because goods must be exchanged efficiently across country borders, the logistics sector will play a critical part in these developments.
Due to its informality and fragmented architecture, this industry is currently experiencing significant inefficiencies, resulting in greater logistics costs.
A look At What Kamtar Does
Kamtar is a major digital logistics provider in French-speaking West Africa, founded in 2018, that connects consignors of goods (such as construction enterprises, consumer goods manufacturers, e-Commerce operators, and so on) with its logistics operators directly. As of today, their platform has almost 5,000 drivers registered.
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By eliminating intermediaries and negotiation in terms of delivery services (i.e. price, destinations, delivery dates, etc.) that consignors and operators had to deal with on a case-by-case basis, Kamtar’s digital platform enables efficient delivery operations as well as cost reduction.
With its technology, which allows real-time tracking of delivery progress, it also substantially enhances the transparency and reliability of delivery services, which has been a huge concern for the logistics sector in Africa.
Under the cooperation with Sendy and Mobility 54, the company already operates in Cote d’Ivoire and Senegal, with plans to expand into other countries by the end of 2022.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer