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Google, Speedinvest back Kenya’s Leta, which uses AI to make logistics cheaper
- Kenyan logistics startup Leta, backed by Google and Speedinvest, aims to make logistics in Africa cheaper and faster by using AI-powered platform for delivery optimization, real-time tracking, payment streamlining, and insights.
- Leta's $5 million seed funding round, led by Speedinvest, will help scale its solutions across Africa after a successful $3 million pre-seed funding to deepen operations in core markets.
- The platform's load and route optimization technology helps reduce costs and improve delivery efficiency by integrating with businesses' ERP, POS, and OMS systems for live order data processing.
- Leta's system automates manifest creation, dispatch planning, and optimizes delivery routes in real-time using AI, improving logistics and reducing the number of vehicles needed for distribution.
- The platform's embedded financial services offerings include fuel cards, asset financing, and supply chain financing for stakeholders across the supply chain, expanding its value proposition.
- Leta's real-time mapping, powered by AI, enhances route planning and monitoring, with Google Maps showing interest in its constantly updated road and address data sourced from live deliveries.
- By focusing on software and partnerships with existing fleet owners, Leta stands out from asset-heavy logistics startups in Africa, aiming to double revenue, expand into more regions, and optimize operations for clients.
- Leta's growth has been significant, with over 500,000 deliveries to 4.5 million, managing 7,400 vehicles, and generating 5x revenue increase, showcasing its potential impact on the African logistics market.
- The company also aims to reduce carbon emissions through efficiency gains, benefitting both businesses and the environment, while enabling major brands like KFC and Diageo to optimize their logistics operations.
- Joshi views logistics startups in Africa as essential for driving innovation and meeting market demands, leveraging Leta's technology-driven approach to revolutionize the sector and provide sustainable logistics solutions.
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