Google funds Lori Systems, a digital logistics start-up

(Ecofin Agency) – Mastering the logistics value chain in international trade continues to be a headache for shippers. Some players in the field see the digital revolution as effective tools for solving problems.

Google announced in August that it had financed the company Lori Systems, through the $50 million African Investment Fund that it has set up. Based in Nairobi, the start-up also present in Uganda and Nigeria offers digital logistics services to manage freight shipments more efficiently. Earlier this year, it was rated by the Financial Times as the seventh fastest growing company in Africa, and has already transported more than USD 10 billion in freight across the continent since its inception in 2017.

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Google’s contribution should make it possible to revitalize and extend the revolution initiated by Lori systems, in terms of controlling the value chain of freight transport. According to the Logistics Africa report by Knight Frank, 75% of the price of a product in Africa is due to logistics (compared to only 6% in the United States).

At Google, we understand the transformative power that digitization can bring to the African continent. There is so much potential in the region, but it is only through innovation that this can be fully unleashed. Lori Systems is a great example of how technology can be scalable across Africa and how, in turn, this can lead to significant economic development. We can’t wait to see where the future takes a company like this explained Nitin Gajria, Google’s CEO for Sub-Saharan Africa.

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