Leta, a Kenyan-based supply chain and logistics SaaS provider, has secured $3 million in pre-seed funding to expand its services to West Africa.
Leta founder and CEO Nick Joshi said the company plans to begin in the Ghanaian capital of Accra in December. After Ghana, Leta will try to tackle the Nigerian market. The startup currently caters to customers in the east African countries of Kenya, Tanzania, Uganda, Zimbabwe and Zambia.
Launched in 2021, Leta aims to use technology to improve efficiency in product delivery and reduce the number of required vehicles for goods distribution. Its technology helps determine the most efficient routes that haulers can take. The platform enables logistic companies to save costs and increases competitiveness in the market.
The platform also allows client companies to track their drivers and the specific goods they carry. It also measures traveling time and distance and vehicle metrics like braking and idle periods.
Joshi said 2023 would be “fairly big” for his B2B startup. He explained that being a pioneer in the region gives Leta a starting advantage. He and his team plan to continue refining Leta’s technology and products to solve “massive” gaps in the logistics market.
We have a very good understanding of our sales
Nick Joshi, CEO
“Our product has stabilized and we have a very good understanding of our sales process and our go-to-market strategy,” Joshi said.
Joshi, who used to be a product VP at U.S. Delivery.com, said his previous work experience had helped him realize the continuously evolving problems in the delivery industry. This inspired him to go back home to Kenya and establish Leta.
Leta has worked with Kenyan-based industry leaders of Africa, including fast food giant Simbisa Brands, FMCG manufacturer Chandaria Industries and fashion marketplace ShopZetu. Leta has aided more than 500,000 deliveries and managed 2,000 vehicles since its launch.
Several renowned African venture capitalists participated in the funding round, including 4Di Capital, Chui Ventures and Verdant Frontiers Fintech. Google executive Charles Murito and Cellulant co-founder Ken Njoroge joined the capital raising round.
