Tripplo, a logistics software platform based in Johannesburg, has successfully secured a substantial equity investment of US$1.8 million, marking the successful conclusion of its seed funding extension round. Leading this round is Futuregrowth Asset Management, representing Old Mutual Life Assurance Company South Africa, with further investment from Galloprovincialis. These two entities join Standard Bank of South Africa, Founders Factory Africa, and Digital Africa Ventures as significant investors in Tripplo.
This capital injection is poised to significantly reinforce Tripplo’s overarching goal of establishing itself as the premier global logistics platform, dedicated to revolutionizing the logistics industry by promoting innovation and operational efficiency in the movement of goods.
In 2023, the estimated size of the South Africa Freight and Logistics Market stands at 21.53 billion USD, with projections indicating a growth to 30.56 billion USD by 2029.
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Victor Chaitezvi, Founder and CEO of Tripplo, expressed his enthusiasm, stating, “We warmly welcome Futuregrowth Asset Management and Galloprovincialis as strategic partners in our pursuit to reshape the logistics sector.”
Amrish Narrandes, Head of Private Equity/Capital at Futuregrowth Asset Management, emphasized the investment’s significance, highlighting the pivotal role logistics plays in the South African economy. He commented, “This investment in Tripplo not only underscores the importance of logistics in our nation’s growth but also highlights the critical role of innovative management in driving such endeavors. We are not just investing in a platform; we are investing in a vision and a team that can truly make a difference.”
Tripplo has garnered accolades for its unique approach, which has brought transformative changes to the logistics landscape. Leveraging cutting-edge technology, Tripplo empowers businesses across various sectors to streamline their road-freight supply chains, negotiate rates with contractors, electronically process trips end-to-end, optimize routes, enable real-time tracking, manage documents, facilitate working capital for trucks, and make data-driven decisions aimed at reducing costs and enhancing overall efficiency.
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Victor Chaitezvi affirmed, “This funding round attests to the confidence our investors have in our vision and our capacity to positively disrupt the industry. We look forward to accelerating our growth and continuing to provide innovative solutions to our clients.”
Tripplo’s steadfast commitment to innovation, coupled with the support of its investors, firmly situates the company at the forefront of logistics technology. In an ever-evolving industry, Tripplo’s platform is well-positioned to play a pivotal role in enabling businesses to thrive in an increasingly interconnected world.
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 con