Sendy, the Kenyan fulfillment and logistics startup, has received a new undisclosed investment round from MOL PLUS Co. to help scale fulfillment services in Kenya, Uganda, Nigeria, and Cote d’Ivoire.
MOL Logistics provides integrated logistics and supply chain solutions for businesses across the world. MOL PLUS, a corporate venture capital fund of MOL, invests in high-impact companies around the world that transform business models in ocean shipping business and logistics.
This investment comes a few weeks after Sendy shut down its retail and supplier trading platform known as Sendy Supply. It also laid off 30% of its workforce amid funding challenges.
The partnership between Sendy and MOL will provide its customers in shipping and freight with additional mid-mile and last-mile services.
“The opportunities to improve logistics and supply chain inefficiencies across Africa are great. We believe our financial and operational partnership with MOL PLUS & MOL Logistics Co., Ltd.(MOL Logistics) will drive a huge impact not only for the growth of Sendy and its fulfillment network but also for the Merchants we serve as we continue to offer more value add and solutions to help them grow and trade more.
“We will work with MOL Logistics to leverage their strengths and expertise in logistics and cross-border fulfillment, to grow our services and network of businesses we serve,” said Mesh Alloys, Founder and CEO of Sendy.
“We were very specific in choosing to invest in Sendy because of the solution that they offer; we share a common goal. We all want to democratize logistics and support businesses in Africa to move their goods reliably and affordably. We look forward to an exciting partnership with Sendy as we forge this joint mission. We endeavor to work with partners with innovative ideas like Sendy through creating synergies and collaborations that will generate value,” said Takuya Sakamoto, Representative of MOL PLUS.
Sendy seeks to grow its fulfillment operations in the continent by providing the easiest way for businesses of any size to move goods, enabling them to drive more efficiency and growth. This is in line with its mission, to empower people and businesses by making it easier to trade.
