A Uganda e-logistics startup, Ridelink, has raised $150,000 pre-seed fund in a round led by Ortus Africa Capital (an investment advisory firm), the Omidyar Network (impact investment firm) and Africa Leadership Academy’s Young Entrepreneur Fund (Anzisha) which makes the platform’s total investment to $250,000 having attracted some private investments from Seedstars in 2020.
Founded in 2017 by Daniel Mukisa, Ridelink operates a logistics platform that connects small and medium-sized enterprises to a network of transport operators. The company has served more than 250 SMEs with over 2000 drivers delivering cargo across East Africa.
The company looks to drive down the cost of transport for SMEs by connecting businesses to truck drivers using technology to facilitate the smooth running of business operations, increasing revenue earning, improving mobility efficiency and performance. This platform largely services the urban, peri-urban and rural areas in Uganda, Tanzania and Kenya.
The CEO of Ortus Africa Capital, Mr. Kenneth Legesi said that they are glad to add Ridelink to their story of creating impact through the provision of much-needed capital to entrepreneurs growing Africa’s economies.
Mr. Thokoza Mjo of Anzisha Prize who manages the fund said, “The Young Entrepreneurs Fund is designed to incentivize co-investments into graduates of our programs who have chosen to become career entrepreneurs.” He also added that Ridelink demonstrates the ability of very young Africans to build job generative business and is a compelling business case for why we should all consider the opportunity to invest younger.
CEO of Ridelink; Daniel Mukisa, in his press statement “We plan on usingnthe capital raised to build globally competitive and robust technology and accelerate our marketing campaigns.”
Notably, Mukisa is among the top twenty finalists alongside two other Ugandan entrepreneurs; Ghirmay Abraham of Aptech Africa Ltd. and Emmanuel Emodek; Co-founder and Managing Director, ChapChap Africa Ltd. selected for the Africa Business Heroes Prize competition for a chance to win a share of $1.5M grant funding which will be coupled with invaluable networking and learning opportunities throughout their Africa’s Business Heroes (ABH) journey.