Kobo360 is a logistics platform that connects businesses with truck drivers to facilitate efficient transportation of goods across Africa.
The Gender Divide in Africa’s Most Funded Startups
Over 2,200 startups in Africa have raised more than $100 million in funding since 2019. Only 3 out of the Top 100 most funded African startups have women as CEOs.
3 Risks African Startups Face Scaling Operations
Funding for African startups has decreased by 50% to $1.1 billion in 2024, with high borrowing costs complicating cash flow management. Twiga Foods has effectively managed cash flow by negotiating supplier terms and adopting subscription-based revenue models.
Breaking: Ex- Kobo360 CEO Cikü Mugambi joins Dutch investment firm
Cikü Mugambi has joined DOB Equity as an Investment Director. Mugambi previously served as CEO of Kobo360, a logistics startup.
Kobo360 investors sell equity to ex-CEO Obi Ozor as struggles mount
Kobo360 raised approximately $79 million but has seen a dramatic decline in operations. Co-founder Obi Ozor has repurchased shares and taken on ₦10 billion in debt to revive the company.
Goldman Sachs-backed Kobo360 cut jobs in November as part of restructuring
Kobo360 implemented company-wide layoffs across its seven markets in November 2024. CEO Cikü Mugambi resigned, citing fundraising difficulties.
