Former SpaceX engineers bring autonomous, electric rail vehicle startup out of stealth

Parallel Systems, a company founded by three former SpaceX engineers to build autonomous battery-electric rail vehicles, came out of stealth mode on Wednesday with a $49.55 million Series A raise. The company, which has raised $53.15 million to date, including a $3.6 million seed round, is working to create a more efficient, decarbonized freight network […]

Senegalese logistics and delivery company PAPS raises $4.5M led by 4DX Ventures and Orange

Multinationals like Amazon and Alibaba have leveraged logistics infrastructure such as UPS and FedEx to create large businesses. It’s not the same in Africa, where few third-party infrastructure players exist to provide end-to-end logistics to e-commerce companies. PAPS, a Senegal-based logistics and delivery company, is filling this gap in its region by offering customers various logistics […]

Kenyan e-commerce company Copia Global raises $50M to ramp up African expansion

Kenyan B2C e-commerce company Copia Global has raised $50 million in a Series C equity round led by Goodwell Investments. The new financing round welcomed new investors such as Zebu Investment Partners, the U.S. International Development Finance Corporation (DFC), and Koa Labs, as well as past investors Lightrock, German development finance institution DEG, and Perivoli […]

7bridges raises $17M to automate logistics supply chains using AI

Supply chain logistics — getting components and eventually finished products from A to B to C — is one of the most critical parts of running a business, not least because it is one of the most complex, involving dozens of companies, hundreds of combinations and permutations, accounting for world events outside of your business, […]

EVage raises $28M to be a driving force in India’s commercial EV revolution

A congruence of factors in India — notably, climate change policies, fuel costs and skyrocketing demand for e-commerce — has set up ideal conditions for startups like all-electric commercial vehicle startup EVage. The startup, which has already supplied five EV trucks to Amazon India’s Delivery Service Partner and plans to provide “in the thousands” more […]

Ivorian e-commerce startup ANKA, formerly Afrikrea, raises $6.2M pre-Series A

A study by McKinsey & Company on general e-commerce activities in Africa says consumer spending will reach over $2 trillion in the next three years. Much of this spending falls under the importation of products, primarily influenced by consumer demand and the positioning of major e-commerce platforms in Africa. Afrikrea, an Ivorian startup founded in […]

Reliance Retail backs Dunzo in $240 million funding

Reliance Retail has led a $240 million funding round in Google-backed hyperlocal delivery startup Dunzo as the largest Indian retail chain expands to the instant commerce space, a category that has made inroads in the South Asian market in recent quarters. Reliance Retail is investing $200 million in the round for a 25.8% stake in the […]

YC-backed Namibian startup JABU gets $3.2M for its B2B e-commerce and retail play

Namibian business-to-business e-commerce startup JABU confirmed to TechCrunch that it has raised a $3.2 million financing round. The seed round, which was closed last year, welcomed investors such as Afore Capital, Y Combinator, FJ Labs, Quiet Capital, Kli Capital, Pareto Capital and unnamed angels. As a last-mile distribution e-commerce company, JABU joins a list of […]