Kenya-based supply chain and logistics SaaS service-providing company that was launched the last year, Leta is currently looking for opportunities to grow and expand the business in West Africa, at the same time when it scales the business in its five already existing markets. The company operates to optimize fleet management in the field. The exclusive route and load escalation technology have been specially designed to boost delivery efficiency for good to consumers while also reducing the number of vehicles required for distribution, directing to savings of cost and increase in competitiveness.
With raise of $3 million pre-seed funding in its expansion phase, the start-up looks forward to team-up with distributing and e-commerce leaders in Ghana, and Nigeria, and to growing afar Kenya, Uganda, Tanzania, Zimbabwe, and Zambia. Other participants in the round were Chandaria Capital, the 4Di Capital, PANI, Chui Ventures, Verdant Frontiers, and Samurai Incubate.
Leta is currently looking for opportunities to grow and expand the business in West Africa.
The founder and CEO of the company, Nick Joshi said that the upcoming year is a fairly big deal for the firm. The sales process and marketing strategy of the company has stabilized its products. He also said that the raised funding will help them to expand in new markets, initiating its launch in Ghana. Joshi also added that the firm is working on transport marketplace and fintech products as well. After serving for two years as the VP of product at Delivery.com in the US, working to improve the marketplace’s last-mile efficiency, Joshi founded Leta. He claimed that the work made him realize how delivery issues are fluid and will always be difficult to solve.
Experience in Delivery.com motivated him to launch Leta, as a reframing support service provider for businesses, logistics providers as well as marketplaces. Leta is a logistics operating system and the company’s software finds and shows the most efficient route to distributors for quicker consumer service while enabling them to use fewer vehicles and serve more customers. This allows the tracking of truck drivers, goods carried, time period of the journey, and also distance travelled.
Haulers use the driver app, which displays all the necessary stops in order and signs off a paper to prove delivery and customers obtain a web address to follow the delivery of their orders. Leta claims to have optimized more than 500,000 deliveries, over 20,000 tonnes of goods delivered, and management of 2,000 vehicles.
The founder and CEO of the company, Nick Joshi said that the upcoming year is a fairly big deal for the firm.
Leta is currently working with African fast-food leader Simbisa Brands, Chandaria Industries, which is a fast-moving consumer goods amalgamation, B2B e-commerce distribution firm Twiga, and fashion marketplace ShopZetu. Leta, according to Joshi, has an early-mover advantage in the area and will keep developing and improving its technology, intellectual property, and products to fill the enormous holes he sees in the industry.
Through the establishment of the transport marketplace, the customers of the company will be able to ask for more delivery vehicles when their fleets are insufficient. Joshi also added that with the help of Leta’s software, the consumers will be able to request more vehicles and the company will quickly connect them to additional service providers. Utilization of everything can be tracked through the platform and the distributors will be matched with the best suppliers available.
As compared to other marketplaces, which are functioning similarly these days that is renting a truck for one service of the customer whereas, multiple loads can be done by one truck with the help of load utilization ability. The business is also in discussions with lenders to offer asset financing to clients so they can increase the size of their fleets.