Ridelink, a Ugandan logistics as a service startup has raised $150,000 from Ortus Africa Capital, Omidyar Network, and African Leadership Academy’s Young Entrepreneurs Fund (Anzisha).
Founded in 2017, Ridelink operates a logistics platform that connects small and medium-sized enterprises to a network of transport operators. The company has served more than 250 SMEs with over 2000 drivers delivering cargoes across East Africa.
Ridelink is on a mission to cut the cost of transport for SMEs by connecting businesses to truck drivers using technology to facilitate the smooth running of business operations, increase revenue earning, improve mobility efficiency and performance. The platform services a market in urban, peri-urban, and rural Uganda, Kenya, and Tanzania.
“We plan on using the capital raised to build globally competitive and robust technology and accelerate our marketing campaigns,” says Daniel Mukisa who doubles as the CEO and founder.
“The Young Entrepreneurs Fund is designed to incentivize co-investments into graduates of our programs like Daniel who have chosen to become career entrepreneurs. 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 Thokoza Mjo of the Anzisha Prize, who manages the fund.
“At Ortus Africa Capital we are glad to add Ridelink to our story of creating impact through the provision of much-needed capital to entrepreneurs growing Africa’s economies. By co-investing alongside the Young Entrepreneurs Fund and backing African entrepreneurs with local capital, we hope this helps the entrepreneurs grow but also gives confidence to other investors in the African ecosystem to join us on this journey,” says Kenneth Legesi CEO/CIO at Ortus Africa Capital.
