MOL PLUS, based in Minato-ku, Tokyo, has invested in Sendy, a Kenyan firm with headquarters in Nairobi.
This is the first investment by MOL PLUS in an African startup.
Sendy operates a platform that connects logistics companies and shippers in Kenya and the rest of Africa. Connecting consumer goods manufacturers and e-commerce companies’ delivery needs with individual delivery companies that own registered motorcycles and trucks, as well as simplifying negotiations between shippers and delivery companies on delivery routes, prices, and so on, contributes to efficiency and cost savings.
MOL PLUS anticipates that Sendy’s logistics platform will significantly contribute to the enhancement of logistics services in Africa, where demand for logistics is growing rapidly due to economic development and population increase. This will be useful to me.
Read also Here’s How Kenyan EV Startup BasiGo Plans To Finance Lease Of Its Electric Buses
MOL Logistics, Ltd. (President: Koichi Yashima, Headquarters: Chiyoda-ku, Tokyo), a part of the MOL Group, and Sendy will contemplate collaborating on the operation of distribution warehouses in Africa in the future.
MOL PLUS will continue to invest in and engage with start-up firms in order to build synergies between start-up companies’ creative ideas and technology and MOL Group’s resources. We will continue to strive to establish new enterprises.
Read also Kenya’s Sendy Joins Swvl, Vezeeta and Wave, Lays Off 10% Of Its Workforce
In early October this year, Sendy announced it was that it was laying off 20% of its remaining 270 staff.
MOL PLUS Sendy MOL PLUS Sendy
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh