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$1.3 M seed round raised by Nigerian logistics startup MVX

MVX is a maritime commerce and logistics platform that matches the demand for offshore support boats in the energy industry and provides digital freight forwarding, customs, and in-land logistics services. It was launched in 2019.

In March 2019, the startup launched MVXenergi, a digital freight booking and management platform that provides a convenient and seamless door-to-door freight experience for African businesses and partners, and in March 2020, it launched MVXtransit, a digital freight booking and management platform that provides a convenient and seamless door-to-door freight experience for African businesses and partners.

MVX has already assisted over 400 firms across Africa with freight transportation and trade finance, and it has now followed up on a pre-seed investment in May 2019 with a seed round to help it expand even faster.

Kepple Africa Ventures, Launch Africa Ventures, Founders Factory Africa, The Continent Venture Partners, Century Oak, and Oui Capital are among the investors in the round, which will help MVX expand its operations, employ staff, and develop its technology. The immediate strategy is to expand the market across the continent.

“MVX delivers cutting edge solutions that directly impact Africa’s trade sector by addressing several critical challenges it faces with innovative, time-efficient, and cost-saving technologies. We are excited to be backing a stellar team that consistently continues to build products that move the needle in Africa’s logistics and trade finance industries,” said Zachariah George, managing partner at Launch Africa Ventures.

“The trade sector in Africa is one that we believe is ripe for disruption. MVX is building a game-changing technology and platform to revolutionize how businesses in Africa move shipment and trade around the world. Our fund is solidly in support of their effort, and we are proud to continue to partner with them,” said Satoshi Shinada, general partner at Kepple Africa Ventures.

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