Mobility 54, Toyota Tshusho’s venture capital arm, has led a group of investors backing a seed round for a digital freight management startup based in Nigeria. Between them, the investors are putting $5 million to work in the firm, OnePort 365, to support its ongoing technology development as well as its plans to penetrate new markets on the continent. The terms of the transaction have not been disclosed.
The other investors taking part in the round are returning investor Samurai Incubate, and new investors SBI Investment, Flexport, ODX, a Singaporean syndicate fund, and a group of unnamed, strategic angel investors. With the arrival of AFCTA, the continent-wide free-trade initiative, OnePort 365’s market opportunity is considerable, a key factor in the investors’ decision to invest.
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