Congo's logistic startup Noki Noki bags $3m to expand

STARTUP VENTURE CAPITALJune 20, 2024 at 10:40 AM UTC

TLDR

Congolese logistics startup Noki Noki secures $3 million seed funding for food delivery and supermarket services.
Founded in 2021 by Jonathan Yanghat, Noki Noki claims over 10,000 users and $1.67 million in transactions in 2023.
Funding led by Uma Ventures to expand across existing six markets and establish in new markets like the Democratic Republic of Congo (DRC).

Noki Noki, a Congolese logistics startup specializing in food delivery and supermarket shopping services, has secured $3 million in seed funding.

Founded in 2021 by Jonathan Yanghat, the company claims to serve more than 10,000 users and has achieved over 1 billion CFA francs ($1.67 million) in transactions in 2023.

The funding round, led by Uma Ventures, aims to facilitate the startup's expansion across its current six markets and establish a strong presence in new markets, including the Democratic Republic of Congo (DRC).

Key Takeaways

The funding underscores ongoing investments in Congolese startups, dominating venture capital funding in Central Africa. In 2023, Congo raised $62 million in venture capital, leading the region in startup funding growth. Noki Noki faces competition from other logistics startups like Wikko, Vanoma, and Sualoo in Central Africa's expanding last-mile delivery market. The continent's last-mile delivery sector is experiencing robust annual growth of 8.45%, with projections indicating it will reach $2.35 billion by 2030, according to data from Straits Research.

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Uma Ventures