One month after downsizing its workforce by 20%, Kenyan logistics startup, Sendy has secured undisclosed funding from MOL PLUS Co., Ltd—the Corporate Venture Capital of a Japanese transport company, Mitsui O.S.K. Lines, Ltd. (MOL).
This investment will enable Sendy to scale its services in Kenya, Uganda, Nigeria, and Cote d’Ivoire. "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 fulfilment 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," Mesh Alloys, Founder and CEO of Sendy, said.
Through a portfolio of fulfilment services (Direct Fulfillment, Smart Fulfillment, All-in-one Fulfillment), Sendy provides businesses of any size to move goods, enabling them to drive more efficiency and growth.
Direct Fulfillment, supports businesses that require delivery to consumers. Smart Fulfillment facilitates e-commerce and B2B companies to pick goods, sort, and deliver them to end customers, All-in-one Fulfillment improves the efficiency of online businesses through picking, packing, storage, and shipping their orders.
"We will work with MOL Logistics to leverage their strengths and expertise in logistics and cross-border fulfilment, to grow our services and network of businesses we serve," Alloys added.
Related Article: How Sendy reduced its workforce by 30% within two months
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.
"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 endeavour to work with partners with innovative ideas like Sendy through creating synergies and collaborations that will generate value," Takuya Sakamoto, Representative of MOL PLUS, stated.
The coming together of Sendy and MOL paves the way for great synergies that will simplify logistics for business. MOL will partner with Sendy to provide its customers in shipping and freight with additional mid-mile and last-mile services.
Sendy seeks to grow its fulfilment 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.