TLDR:
- Congolese logistics company Noki Noki secures $3 million in seed funding
- The funding will be used to expand operations and enter new markets
A Congolese logistics firm, Noki Noki, has raised $3 million in venture capital to support its grocery delivery and shopping services. The company, founded by Jonathan Yanghat in 2021, operates in six countries and plans to use the funds to expand its operations in current areas and establish a presence in new markets, including the Democratic Republic of Congo (DRC). Noki Noki offers various logistics solutions such as Noki Food for meal delivery, Noki Drive for grocery shopping, and Noki Pay, an integrated payment gateway for its delivery goods. With a customer base of over 10,000, the company claims to have processed more than 1 billion CFA francs ($167 million) in transactions in 2023.
In a statement, Jonathan Yanghat, CEO and co-founder of Noki Noki, expressed his excitement about the funding, stating, “This funding brings us closer to our goal of becoming a reference in African last-mile delivery.” The company competes with other players in Central Africa’s last-mile delivery industry, such as Wikko, Vanoma, and Sualoo. The growing demand for last-mile delivery services in Africa is reflected in projections that the market is expected to reach $2.35 billion by 2030, with an annual growth rate of 8.45%.
Uma Ventures led the funding round for Noki Noki and expressed confidence in the company’s potential for growth. Vinay Vaswani, the founder of Uma Ventures, praised Jonathan Yanghat and his team for their understanding of the sector’s needs and vision for market leadership. The investment in Noki Noki reflects the ongoing interest in supporting Congolese businesses, which have been a major recipient of venture capital funding in Central Africa, with $62 million raised in 2023.
