DKN Transport, a Johannesburg-based company that provides road freight logistics services, has raised an undisclosed amount in funding from a fund managed by South African asset manager Edge Growth.
Edge Growth invested through the Engen Convoy Fund, an enterprise and supplier development fund to promote broad-based black economic empowerment (B-BBEE). Engen is a South African oil company majority owned by Malaysian energy giant Petronas.
DKN Transport was set up seven years ago. It provides road freight logistics solutions across various industries, nationally and cross-border into Africa.
Hitesh Dullabh, investment associate at Edge Growth, said that traditional logistics companies are critical enablers to achieving economic growth within the African and South African business ecosystem.
“Given the economic impact of COVID-19 as well as the disruption caused by recent events in the country, this investment comes at a great time to contribute to growing the broader logistic supply chain in South Africa and job creation over the long-term,” Dullabh said.
Cairo-based legal-tech platform Hekouky, which helps in incorporating companies and registers trademarks for entrepreneurs and business owners, has raised an undisclosed amount in a pre-seed funding round by Nama Ventures.
Hekouky was founded by Hala Riad, Mayy Abdelbary and Fatima Khalil. Abdelbary is the former CTO of Paynas, with 15 years of experience, nine of which were in legal software development. Riad is a lawyer with experience in arbitration and corporate law while Khalil is an accountant.
“There are tremendous inefficacies in the legal space that technology can help bridge,” said Mohammed Alzubi, managing partner at Nama Ventures, explaining the rationale behind investing in Hekouky.
Sabi, an asset-light B2B marketplace serving Africa’s informal sector, has raised $6 million in a bridge round led by pan-African VC firm CRE Ventures.
CRE Ventures had also participated in the company’s seed funding round last year worth $2 million along with Janngo Capital, Atlantica Ventures and Waarde Capital.
Sabi brings merchants and resellers into its network with curated business tools and services that help them reach new customers, improve cash flow and streamline logistics.
It works with over 10,000 agents operating across Africa that interface with new merchants and service providers across multiple business categories including agriculture, FMCG, electronics, and financial services.
It is currently operational in Nigeria and launched in Kenya recently.