Sunday, January 29, 2023
  • Home
  • TechBooky
  • Business
  • TV
  • Startup
TechBooky Africa
  • Home
  • TechBooky
  • Business
  • TV
  • Startup
  • Fintech/Finance
  • Login
No Result
View All Result
TechBooky Africa
Home Investment

Lori Systems Secured an Undisclosed Amount of Investment from Google.

Google’s investment in Lori Systems revealed the search giant prefers the Kenyan digital market.

Eni by Eni
August 19, 2022
in Investment, Startup
0

Lori Systems joins the list of African startups entitled to Google’s investment reserve for African startups – accessible funds to additional business capital to accelerate Lori Systems cargo logistics services. This update follows up on the previous Google commitment to accelerate African startup growth with a $50m Africa Investment Fund. Lori Systems has reportedly secured its slice of Google’s pan-African Investment Funds to bolster its startup cargo logistics services.

Related posts

Tabby’s Business Capital Increases After Securing A $58M Investment Deal.

Tabby’s Business Capital Increases After Securing A $58M Investment Deal.

January 19, 2023
Releaf Completed Its Pre-Series A Funding With $3.3M To Industrialize Food Security In Africa.

Releaf Completed Its Pre-Series A Funding With $3.3M To Industrialize Food Security In Africa.

January 9, 2023

Lori Systems revealed the pre-Series B fundraising round they recently completed was geared up by Google’s intervention to have offered a stake of its commitment to fund the on-demand digitized haulage startup company. Still, Lori Systems declined to reveal the total amount they closed the pre-Series B round that acquired funds from Google and several other capitalist investors. Lori Systems reported the pre-Series B round yielded a higher seed valuation than the previous fundraising session that closed a hundred million dollars.

Since Lori Systems published a vague report about Google’s intervention in its pre-Series B round, Google is likely to have offered the most seed than other investors that participated in Lori systems fundraising. Lori Systems makes the third African startup company enlisted to benefit from Google’s pan-African investment initiative. The initial African startups’ Google endorsed are SafeBoda’s ride-hailing company and Carry1st social games publisher.

Google’s investment seems to be biased by placing an investment focused on the logistics sector rather than other sectors. Recall that Google’s CEO Sundar Pichai announced Alphabet Inc. will disburse a billion dollars to accelerate digital development in Africa. The $50m AIF is a fraction of the billion dollars the search giant committed to investing in Africa’s digital sector. Lest I forget to report that Google intends to accelerate innovations in Africa’s significant technology sectors including FinTech, eCommerce, and Logistics sectors serving local content.

Google’s billion dollars investment initiative committed to aiding the African digital sector is time lined to last for five years having deposited subsea cables and other high-end technology across Africa.

Google’s biased investment tends to favour the Kenyan digital sector nurturing a passive investment portfolio such as Lori Systems, SafeBoda, and an established Product/Data Development Centre in east Africa’s commercial region Nairobi. Google’s investments in Africa are focused on economies that will pioneer the search giant’s presence other than investing in competitive digital markets in Africa such as Nigeria, South Africa, Ghana, Côte d’Ivoire, etc.

Lori Systems is on the verge of expanding its cargo logistics operations outside its host country. Lori Systems will continue to serve its existing marketplace with low-cost cross-border cargo logistics. Lori Systems intends to expand its radar that connects shippers, trucks, and transporters to procure digitized haulage solutions in Africa.

Recall that Lori Systems has served the logistics sector for half a decade moving cargoes across the continent. Over $10bn worth of cargoes has been transported via Lori Systems logistics network since the 2016 debut in Nairobi, Kenya. Google extending Lori Systems’ business capital gives the logistics startup company an edge to leverage Africa’s on-demand logistics operations.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Share 0
Tags: googleinvestmentkenyaLogisticsstartup
Previous Post

ROAM Air Signs MoU Deal With M-KOPA to Leverage Electric Motorcycle Adoption in Kenya.

Next Post

Zywa’s Neobank Company is Set to Expand Across the MENA Market with a $3M Budget.

Next Post
Zywa’s Neobank Company is Set to Expand Across the MENA Market with a $3M Budget.

Zywa’s Neobank Company is Set to Expand Across the MENA Market with a $3M Budget.

RECOMMENDED NEWS

How To Apply For Lagos Ride Driver And Facts About Being A Lagos Ride Driver.

How To Apply For Lagos Ride Driver And Facts About Being A Lagos Ride Driver.

11 months ago
These Nations Have All Banned Twitter Alongside Nigeria

These Nations Have All Banned Twitter Alongside Nigeria

2 years ago
The South African Reserve Bank (SARB) has Revealed Plans to Regulate the Crypto Market.

The South African Reserve Bank (SARB) has Revealed Plans to Regulate the Crypto Market.

7 months ago
Demystifying The Get Rich Quick Cryptocurrency Investment Scheme

Demystifying The Get Rich Quick Cryptocurrency Investment Scheme

2 years ago

FOLLOW US

  • 70.9k Followers

BROWSE BY CATEGORIES

  • App
  • Banking
  • Business
  • Cryptocurrency
  • Cybersecurity
  • East Africa
  • Economy
  • Enterprise
  • Event
  • Fintech/Finance
  • Funding
  • Gadget
  • Government
  • Insight
  • Internet
  • Investment
  • Nigerian/African Tech
  • North Africa
  • Personnel
  • Research/How to do it
  • Service
  • Social Media
  • Southern Africa
  • Startup
  • Telecom
  • Transport
  • Uncategorized
  • West Africa

BROWSE BY TOPICS

5g acquisition africa app banking CBDC cbn central bank of nigeria cloud cryptocurrency Crypto market cybersecurity e-commerce e-naira east africa ecommerce economy enterprise fintech funding Fundraising google government inec internet investment kenya License microsoft mtn ncc nigeria Partnership Regulator remittance ride hailing seed social media software south africa startup technology telecom twitter west africa

Featured Categories

App
19 Posts
View Posts
Banking
17 Posts
View Posts
Business
7 Posts
View Posts
Cryptocurrency
27 Posts
View Posts
Cybersecurity
13 Posts
View Posts
East Africa
23 Posts
View Posts
Economy
18 Posts
View Posts
Enterprise
31 Posts
View Posts
Event
9 Posts
View Posts
Fintech/Finance
83 Posts
View Posts
Funding
29 Posts
View Posts
Gadget
11 Posts
View Posts
Government
55 Posts
View Posts
Insight
4 Posts
View Posts
Internet
20 Posts
View Posts
Investment
18 Posts
View Posts
Nigerian/African Tech
31 Posts
View Posts
North Africa
2 Posts
View Posts
Personnel
2 Posts
View Posts
Research/How to do it
2 Posts
View Posts
Service
8 Posts
View Posts
Social Media
19 Posts
View Posts
Southern Africa
17 Posts
View Posts
Startup
83 Posts
View Posts
Telecom
35 Posts
View Posts
Transport
10 Posts
View Posts
Uncategorized
2 Posts
View Posts
West Africa
41 Posts
View Posts
No Result
View All Result
Loading
  • Amazon & Stripe
    Stripe & Amazon Iterated Partnership Deal Will Integrate FinTech & Cloud Services For Global Penetration.
    • January 25, 2023
  • Airtel eSIM
    Airtel Launches eSIM Technology In Nigeria
    • January 25, 2023
  • Mafab Communication Debut 5G Cellular Data In Nigeria.
    • January 24, 2023
  • Spotify
    Tech Retrenchment: Spotify Has Prepared To Cut It Global Workforce This Week.
    • January 24, 2023
  • Kuda Bank
    The SBP Issues Kuda Bank FinTech License to Operate In Pakistan.
    • January 24, 2023
TechBooky Africa

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc.

Follow us on social media:

Recent News

  • Stripe & Amazon Iterated Partnership Deal Will Integrate FinTech & Cloud Services For Global Penetration.
  • Airtel Launches eSIM Technology In Nigeria
  • Mafab Communication Debut 5G Cellular Data In Nigeria.

Category

  • App
  • Banking
  • Business
  • Cryptocurrency
  • Cybersecurity
  • East Africa
  • Economy
  • Enterprise
  • Event
  • Fintech/Finance
  • Funding
  • Gadget
  • Government
  • Insight
  • Internet
  • Investment
  • Nigerian/African Tech
  • North Africa
  • Personnel
  • Research/How to do it
  • Service
  • Social Media
  • Southern Africa
  • Startup
  • Telecom
  • Transport
  • Uncategorized
  • West Africa
  • Home
  • TechBooky
  • Business
  • Video
  • Contact Us

© 2022 Techbooky Africa .

No Result
View All Result
  • Home
  • TechBooky
  • Business
  • TV
  • Startup

© 2022 Techbooky Africa .

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In