Noki Noki, a Congolese logistics startup specializing in food delivery and supermarket shopping services, has secured $3 million in seed funding.
The company, already operating in six countries, plans to leverage this investment to expand its operations across these existing markets and establish a stronger presence in new ones, including the Democratic Republic of Congo (DRC).
Surge in Investments in Congolese Startups
This funding round, led by Uma Ventures, highlights the ongoing trend of increasing investments in Congolese startups, which currently dominate the investment landscape in the Central Africa region. In 2023, Congo attracted a substantial $62 million in venture capital funding, solidifying its position as the primary driver of startup funding growth in Central Africa.
Founded in 2021 by Jonathan Yanghat, Noki Noki offers a suite of innovative logistics solutions, including Noki Food for meal delivery, Noki Drive for supermarket shopping, and Noki Pay, an integrated payment platform for its delivery services.
The company claims to have served over 10,000 users and processed over 1 billion CFA francs ($167 million) in transactions in 2023.
Vision for Last-Mile Delivery Dominance
Jonathan Yanghat, CEO and co-founder, expressed his ambition for Noki Noki, stating, “We embarked on this journey with a few motorcycles and a clear vision: to revolutionize delivery and e-commerce across the continent.
This funding brings us closer to our goal of becoming the benchmark for last-mile delivery in Africa.”
Noki Noki faces competition from several other logistics startups like Wikko, Vanoma, and Sualoo in Central Africa’s rapidly growing last-mile delivery market. According to a McKinsey report, this market is expanding at an annual rate of 25% and is projected to reach $80 billion by the end of the year.
Strategic Alignment with Uma Ventures
Vinay Vaswani, founder of Uma Ventures, expressed confidence in Noki Noki’s leadership, stating, “Jonathan Yanghat and his team have demonstrated a deep understanding of the sector’s needs and the ability to flourish as market leaders.
Their vision aligns with our strategy of building tech-enabled infrastructure, and we are proud to support their growth.”