Ugandan-grown startup Ridelink nabbed a $150,000 (about Shs531 million) funding round to continue improving its digital logistics platform that connects small business owners to transport operators for cargo delivery.
Founded in 2017 by Daniel Mukisa, the company counts over 250 SMEs that have been linked to over 2000 drivers delivering Cargo in Uganda, Kenya and Tanzania, according to Digestafrica.com.
The equity funding round came from Ortus Africa Capital, Omidyar Network, and African Leadership Academy’s Young Entrepreneurs Fund (Anzisha), taking the company’s total investment to $250,000, following the 2020 funds picked from Seedstars.
Mukisa says the investment will be used to strengthen their technology and marketing operations.
According to Thokoza Mjo, who manages Anzisha, “Ridelink demonstrates the ability of very young Africans to build job generative businesses and is a compelling business case for why we should all consider the opportunity to invest younger,” says, who manages the fund.”