With SkyNet Worldwide Express Holdings raising its interest in the firm, South African logistics startup Droppa has finished its Series A financing round.
Droppa is an on-demand logistics platform that was established in 2016. Through its relationship with SkyNet, it provides same-day delivery services between Johannesburg, Cape Town, and Durban as well as a national selection of delivery alternatives, including road and air delivery modes.
In July 2020, during the height of COVID-19, Droppa and SkyNet formed a two-way relationship that gave Droppa customers access to SkyNet’s courier services and gave SkyNet the chance to grow their capacity by using Droppa’s sizable vehicle fleet to further improve their services. The success of this original investment created the conditions for SkyNet’s recent growth in ownership.
“Having gone to Radio 702 and requesting for a logistics giant to partner with Droppa, this initiative caught the attention of a SkyNet executive. Who then made contact and thus began the journey which has grown stronger over the past two years. Through the many lessons learned we are confident that they deserve to have a seat at the table and Droppa is looking forward to expanding its wings through the SkyNet international network taking the delivery hub global,” said Khathutshelo Mufamadi, Droppa’s founder and CEO.
“We are very excited about the investment in Droppa. Following intensive negotiations to strategically align and shape our market offerings, I am confident the investment in Droppa will help drive further business growth for both parties and allow continuous innovative business solutions that benefit our customers,” said Tommy Erasmus, CEO at SkyNet.
