Chargel, a Senegalese logistics startup, has raised extra funding in pre-seed capital from Nigerian VC firm Ventures Platform to assist improve the efficiency, reliability, and transparency of the country’s transportation business and that of Francophone West Africa.
Why The Investor Invested
Since its founding, the firm has gained a lot of traction. Chargel signed up over 3,000 trucks and nine shippers in its pipeline in just two months after it began, accounting for over 50% of traffic in the Port of Dakar.
“Founders Moustapha Ndoye and Alioune Ndoye have spent years solving problems across Africa. Moustapha helped build Wave into a unicorn and Alioune has extensive experience building innovative technology across multiple industries. Both co-founders have a deep understanding of the trucking industry and the problems that need to be solved to make it more efficient. Besides the fact that Chargel’s proprietary technology solves real problems for those who rely on freight services — and those who offer them — we also like that the company has already grown quickly since its founding,” the VC said in a statement.
Read also African Cleantech Startup ScarabTech Raises Seed Funding From GIIG Africa Fund
“And while there are other similar companies on the continent, we’re particularly interested in this blue ocean opportunity within a hugely underserved region — Francophone Africa, and with second-time founders that dedicated two years to studying the market and aggregating trucks on the platform. We’re excited to be partnering with Chargel on their mission to make freight more efficient and help businesses move goods around Africa more easily and affordably. We believe in Moustapha & Alioune’s vision for the future of trucking and we’re proud to be a part of their journey,” it added.
A Look At What The Startup Does
Founded in 2021 by Moustapha Ndoye and Alioune Ndoye, Chargel links shippers and carriers, making it simpler and more productive to move goods and track shipments. Both parties gain from this because it saves money, boosts income, and is better for the environment. Chargel decreases empty miles driven, limit the deadhead percentage, and cut fuel consumption by enhancing coordination and communication between carriers, shippers, and other pertinent parties.
Chargel logistics
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