Endeavor, a mission-oriented organisation that is leading the global movement for high-impact entrepreneurship, has welcomed two new entrepreneurs into its global network.
Obi Ozor and Ife Oyedele II, co-founders of Kobo360, a digital logistics platform that uses big data and agile technology to reduce friction and improve efficiency in the African logistics ecosystem, were selected as Endeavor Entrepreneurs on May 21, 2020. They were successfully selected as part of a cohort of 10 entrepreneurs from five markets.
“We’re excited to welcome Kobo360 into Endeavor’s network which includes some of the world’s most exciting scale-up entrepreneurs and most experienced mentors and investors,” said Eloho Gihan-Mbelu, managing director and CEO of Endeavor in Nigeria.
By helping entrepreneurs behind some of the world’s most exciting scale-up companies accelerate their companies’ growth, and by contributing to building strong entrepreneurship ecosystems in underserved markets like Nigeria, Endeavor is driving economic growth through entrepreneurship.
Earlier this year, Endeavor also welcomed Daystar Power (a renewable energy company based in Nigeria and Ghana) and Migo (a financial technology platform operating in Nigeria and Brazil) into its network.
“Fixing Africa’s supply chain is clearly important for commerce on the continent, and Kobo360’s rapid growth over the past three years is evidence that the company’s valuable services are in critical demand. Obi and Ife are inspiring founders and their relentless focus on scaling Kobo360 serves as an inspiration to high-impact entrepreneurs everywhere,” Gihan-Mbelu said.
Logistics in Nigeria continues to be a challenge. For many businesses, finding the proper truck operators for cargo is difficult and inefficient as they spend days negotiating with brokers, searching for trusted truck drivers, and pursuing updates on delivery. Kobo360 is solving this challenge for businesses by using its digital platform to match cargo-owners with truck owners, while providing real-time updates throughout the entire delivery process. The company also offers value-added services such as trip-financing, discounts on diesel, and insurance.
Since launching in 2017, Kobo360 has surpassed several milestones, including a $30 million Series A in August 2019.
“It’s an honour to be joining this global network of high-impact entrepreneurs and to have Endeavor recognise our efforts to transform Africa’s logistics sector using technology,” said Obi Ozor, co-founder & CEO, Kobo360.
“As entrepreneurs, we wanted to turn African problems into African opportunities. Focusing on logistics, Ife and I started Kobo360 to not only fix the inefficiencies that exist, but to build opportunities for the businesses we serve and, most importantly, the hundreds of thousands of truck drivers across Africa,” he said.
Ozor said joining Endeavor is a fundamental milestone in Kobo360’s journey, adding, “Our Global Logistics Operating System [GLOS] will revolutionise supply chain across emerging markets and with Endeavor’s support, we’re able to make invaluable global connections that could be leveraged for our expansion and growth.”
With the recent addition of Kobo360, Endeavor Nigeria now supports 16 entrepreneurs who lead 10 scale-up stage companies in Nigeria, spanning fintech, renewable energy, entertainment, logistics and retail.