South African logistics startup Tripplo raises $1.8m funding to scale its operations

South African logistics startup Tripplo raises $1.8m funding to scale its operations

Published: 16-10-2023 13:35:00 | By: Pie Kamau | hits: 4174 | Tags:

Tripplo, a Johannesburg-based digital platform that facilitates the safe and efficient movement of road freight cargo across SADC,  has closed its seed funding extension round with a$1.8 million equity investment. 

The round was led by Futuregrowth Asset Management (representing Old Mutual Life Assurance Company South Africa) and followed by Galloprovincialis.  Standard Bank of South Africa, Founders Factory Africa, and Digital Africa Ventures also participated in the round.

Victor Chaitezvi, Founder and CEO, Tripplo: "We are thrilled to welcome Futuregrowth Asset Management and Galloprovincialis as strategic partners on our journey to reshape the logistics sector. This funding round is a testament to the faith our investors have in our vision and our ability to disrupt the industry for the better. We are excited to accelerate our growth and continue delivering innovative solutions to our clients. This investment in Tripplo not only underscores the importance of logistics in our nation’s growth but also emphasizes the critical role of innovative management in driving such endeavours. We’re not just investing in a platform; we’re investing in a vision and a team that can truly make a difference.''

Amrish Narrandes, Head of Private Equity/Capital, Futuregrowth Asset Management: This investment in Tripplo not only highlights the significance of logistics in our nation’s growth but also underscores the crucial role of innovative management in driving such endeavors. We are not just investing in a platform; we are investing in a vision and a team that can truly make a difference.

The startup will use the new capital injection to scale its logistics operations to other regions.

www.tripplo.co