Nigeria's Obi Ozor and Ife Oyedele II, the co-founders of logistics startup Kobo360, have been selected as Endeavor Entrepreneurs. Their selection was made public on 21 May 2020.
Endeavor is a mission-oriented organization that is leading the global movement for high-impact entrepreneurship. The organization helps entrepreneurs behind some of the world’s most exciting scale-up companies accelerate their companies’ growth, and by contributing to building strong entrepreneurship ecosystems in underserved markets like Nigeria, Endeavor is driving economic growth through entrepreneurship.
“We’re excited to welcome Kobo360 into Endeavor’s network which includes some of the world’s most exciting scale-up entrepreneurs and most experienced mentors and investors. Fixing Africa’s supply chain is clearly important for commerce on the continent, and Kobo360’s rapid growth over the past 3 years is evidence that the company’s valuable services are in critical demand. Obi and Ife are inspiring founders and their relentless focus on scaling Kobo360 serves as an inspiration to high-impact entrepreneurs everywhere”, said Eloho Gihan-Mbelu, the Managing Director & CEO of Endeavor in Nigeria.
Logistics is critical for enabling e-commerce across Africa
One of the key challenges across Africa is transportation of goods. Rail networks barely connect between countries and cargo flights are not only more expensive but have roundabout routes that sometimes go via Europe to deliver goods between African countries.
The situation is no different in Nigeria where Kobo360 started from.
Logistics in Nigeria continues to be a challenge. For many Nigerian businesses, finding the proper truck operators for cargo is difficult and inefficient as they spend days negotiating with brokers, searching for trusted truck drivers, and pursuing updates on delivery. Kobo360 say they solve this challenge for businesses by using its digital platform to match cargo-owners with truck owners, while providing real-time updates throughout the entire delivery process.
The company also offers value-added services such as trip-financing, discounts on diesel, and insurance.
Scaling African startups
Obi Ozor and Ife Oyedele II were selected as part of a cohort of 10 entrepreneurs from five different markets. With the recent addition of Kobo360, Endeavor Nigeria now supports 16 entrepreneurs who lead 10 scale-up stage companies in Nigeria, spanning fintech, renewable energy, entertainment, logistics, and retail.
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Having launched in 2017, Kobo360 has surpassed several milestones, one of the notable ones being a $30 million Series A funding round in August 2019.
“It’s an honor to be joining this global network of high-impact entrepreneurs and to have Endeavor to recognize our efforts to transform Africa’s logistics sector using technology. As entrepreneurs, we wanted to turn African problems into African opportunities. Focusing on logistics, Ife and I started Kobo360 to not only fix the inefficiencies that exist but to build opportunities for the businesses we serve and most importantly, the hundreds of thousands of truck drivers across Africa. This is a fundamental milestone in Kobo360’s journey; our Global Logistics Operating System [GLOS] will revolutionize supply chain across emerging markets and with Endeavor’s support, we’re able to make invaluable global connections that could be leveraged for our expansion and growth", said Obi Ozor, Co-founder & CEO of Kobo360.Share this via: