Kobo360
| Company type | Private |
|---|---|
| Industry | Logistics services |
| Founded | 2018 |
| Founder | Obi Ozor and Ife Oyedele II |
| Headquarters | , Nigeria |
Area served | Sub-Saharan Africa |
| Products | transport, clearing and forwarding, and warehousing services |
| Website | https://kobo360.com |
Kobo360 is an African tech-enabled digital logistics platform, headquartered in Lagos and connects cargo owners to truck owners, with a physical presence in 6 African countries, including Nigeria, Ghana, Kenya, Burkina Faso, and Ivory Coast.
Kobo's mission is to simplify Africa's logistics and supply chain by making it more efficient through technology.[1][2][3] Its customers are mostly large multinationals and manufacturing and production companies.[4] Kobo360's platform matches cargo owners with truck owners to solve the delay faced in getting goods delivered on time.[5][6] The company was founded by Obi Ozor and Ife Oyedele II. Kobo360 also has an app that enables users to carry out their activities easily.[7][8][9]
In 2019, Kobo360 had achieved product-market fit, and the company was rapidly expanding as a result of a $30 million equity and debt investment from Goldman Sachs, International Finance Corporation, TLcom Capital and other investors.
In an interview with TechCrunch, KOBO360 CEO, Obi Ozor [10] described the issues that arose as a result of the pandemic and the need to rethink strategy. He also discussed how the company dealt with them, as well as its current state of stable growth and sustainability.[11]
In March 2023, Kobo360 was listed among the "25 Rising African Tech Startups To Watch Out For In 2023" by African Folder.[12]
Funding and investments
[edit]Kobo360 raised $20 million in a Series A round headed by Goldman Sachs in 2019[13] and $10 million in working capital funding from Nigerian commercial banks.[14][13]
Kobo360 raised an additional $56 million in its series B round led by Afrexim Bank's equity arm - The Fund For Export Development in Africa (FEDA), with participation from existing investors.[15]
Awards and recognition
[edit]In 2019 the company was nominated as a Disrupter of the Year finalist at the Africa CEO Forum Awards.[16] In 2022, the company was adjudged the best E-Logistics Platform at The Digital Tech Awards.[17]
Leadership
[edit]In August, 2023, Cikü Mugambi, was announced as the new CEO, as Obi Ozor stepped aside following his political appointment.[18][19] Fola Adeola, a seasoned entrepreneur and investor, was also appointed as the Chairman of the Board of Directors.[20]
References
[edit]- ^ "How logistics startups could make Africa's largest free trade area work". QZ.com. March 3, 2021. Retrieved March 25, 2023.
- ^ Jackson, Tom (2020-05-29). "Founders of Nigerian logistics startup Kobo360 accepted into Endeavor network". Disrupt Africa. Retrieved 2023-02-11.
- ^ "Using tech to improve Africa's logistics industry". BBC News. 2019-06-09. Retrieved 2023-03-25.
- ^ "Kobo360: Africa's leading supply chain technology platform". Y Combinator. Retrieved 2023-02-11.
- ^ "Kobo360 Moves to Improve Logistics Service with Technology – THISDAYLIVE". www.thisdaylive.com. Retrieved 2023-02-11.
- ^ "The Problem-solver". www.ifc.org. Retrieved 2023-02-11.
- ^ Kehinde, Opeyemi (2019-03-30). "Kobo360 launches global logistics app". Daily Trust. Retrieved 2023-02-11.
- ^ "Kobo360 launches logistics app". Punch Newspapers. 2019-04-08. Retrieved 2023-02-11.
- ^ Gerretsen, Isabelle (2020-04-16). "Trucking app Kobo360 wants to halve delivery times across Africa | CNN Business". CNN. Retrieved 2023-03-25.
- ^ "Kobo 360 CEO on what lies ahead for WEF's Young Global Leaders". CNBC Africa. 2021-03-12. Retrieved 2023-03-25.
- ^ "What has KOBO360 been up to in the last 2 years?". Tech Crunch. Retrieved 12 March 2023.
- ^ "25 Rising African Tech Startups To Watch Out For In 2023". African Folder. Retrieved 12 March 2023.
- ^ a b "Nigeria's Kobo360 closes whopping $20m Series-A round led by Goldman Sachs". Ventureburn. 2019-08-14. Retrieved 2023-03-25.
- ^ Bright, Jake (2019-08-14). "Nigerian logistics startup Kobo360 raises $30M backed by Goldman Sachs". TechCrunch. Retrieved 2023-03-25.
- ^ Kene-Okafor, Tage (2022-09-14). "What has KOBO360 been up to in the last 2 years?". TechCrunch. Retrieved 2023-08-30.
- ^ Anagor, Amaka (2019-03-27). "Kobo360 logistics plans to expand business presence in Ghana, Kenya". Businessday NG. Retrieved 2023-05-31.
- ^ "[Kenya] KOBO360 wins Best E-Logistics Platform at the Digital Tech Awards 2022". Africa Business Communities. Retrieved 2023-05-31.
- ^ Michael, Chinwe (2023-08-18). "From COO to CEO, Cikü Mugambi leads Kobo360". Businessday NG. Retrieved 2023-09-09.
- ^ "Cikü Mugambi replaces Obi Ozor as Kobo360 CEO as GTBank co-founder steps in as board chair". 2023-08-18. Retrieved 2023-09-09.
- ^ [1]