South African shipping startup TUNL raises $1m pre-seed

South African parcel shipping platform TUNL has recently secured $1 million in pre-seed funding from notable investors, including Founders Factory Africa, Digital Africa Ventures, E4E Africa, and Jozi Angels. This funding will play a crucial role in facilitating TUNL's expansion within South Africa and setting the stage for its entry into other key African and emerging markets.

Established in 2022 by CEO Matthew Davey and COO Craig Lowman, TUNL was inspired by Davey's firsthand experience as the managing director of a Dutch company that imported South African engineering materials into Europe. Facing substantial challenges and high shipping costs, Davey recognized the pervasive issue of exorbitant shipping expenses, particularly for smaller businesses in emerging markets like South Africa.

The two-year-old e-commerce platform generates revenue by taking margins on orders placed through its platform. TUNL manages a diverse array of products, ranging from backpacks, fashion footwear, arts and crafts, books, nanofiber materials, and high-performance springs to various types of furniture, musical instruments, and nonperishable items like cosmetics.