DOB Equity invests in East African logistics company Sendy
Sendy, an on-demand delivery services platform operating across Kenya, has completed a Series A investment round, led by DOB Equity. DOB Equity will invest alongside CFAO, member of the Toyota Group, and other private investors.
DOB Equity says that the new funds will enable Sendy to increase their platforms’ service offering. This includes adding more vehicles to their platform, increasing their coverage area, expanding the sales and technology team, and preparing for future expansion into neighboring countries in East Africa.
DOB Equity explains that the current logistics sector in Kenya –worth $10bn – is fragmented, informal and highly inefficient. Poor infrastructure, limited technology and expertise, a high degree of bureaucracy, and potential security risks make transport costs in East Africa among the highest in the world.