• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Nigeria’s Freight Management Startup OnePort 365 Raises $5 Million In Seed Funding

Ibhadojemu Emmanuel by Ibhadojemu Emmanuel
April 28, 2022
in Uncategorised
Share on FacebookShare on Twitter

Nigerian freight management startup OnePort 365 has raised $5 million in a seed funding round led by Toyota Tsusho’s VC arm Mobility54 and CFAO Group. The round also saw the participation of other investors namely SBI Investment, ODX, Flexport, Samurai Incubate, and several angel investors.

The freight management sector is characterized by challenges, especially in the continent of Africa where congestion at ports, inadequate process, the inefficiency of service providers, high costs, irregularity with payments, poor documentation, etc., are prevalent.

Startups like OnePort 365 are rising to tackle these issues. Launched in 2019 and founded by Hio Sola-Usidame, the startup addresses the challenges faced by businesses in the freight management world.

The idea to start OnePort 365 came from personal experiences and challenges faced by CEO Hio Sola-Usidame while working in the freight forwarding space. According to him processes usually took about 10 to 14 days and are hugely operated manually. “Typically, these guys have to deal with as much as 10 different middlemen. The way it works is this, there are probably about six different channels involved–you have a trucking phase, you have a customs brokerage, you have a terminal, you have a shipment, you have a warehouse, and then you have marine insurance. As of today, I can tell you 80% of transactions are very much offline,” he explained.

According to OnePort 365’s CEO, three out of every ten trucks past the trucking phase gets lost after leaving Nigerian ports and this can be blamed on poor and in many cases non-existent tracking systems.  “What you’re seeing is a situation whereby cargo worth $100,000 is being hauled by a truck driver earning $400, and as a result, there’s a lot of theft that goes on because there’s no visibility,” he explained.

If you can track your UPS parcel worth less than $100, why can’t the guy loading $100,000 worth of cargo in a container track where this container is in Africa?” he asked.

He also spoke on how shippers use different payments across singular channels and how documentation in the African freight management space is still very much manual with how advanced technology is today.

OnePort 365 provides freight management solutions using end-to-end digitalization methods via its platform. It aims to solve the challenges faced by businesses in the freight management space in Africa. In a statement, it claims to be building an operating system for cross-border trade in Africa, assisting traders and businesses to manage their freight forwarding process, and providing other integral value-added services. OnePort 365 is currently operational in Nigeria and Ghana.

Oneport 365’s CEO claims that the startup reduces booking time which takes between 10 and 14 days to mere minutes. Using its platform, traders and businesses can manage entire processes such as shipping, inland transportation, visibility, and payments, conveniently and in real-time.

“For us, we had experience running this in the traditional space before OnePort365, and it’s a massive edge that gives us a lot of experience and having a good understanding of the space, and that’s what’s led us to significant growth in that period,” the startup’s CEO explained.

OnePort 365 which was bootstrapped by its founder in the first year has increased the number of twenty-foot equivalent unit containers (TEUs) by 140% and grew its revenue by more than 420% last year. Its business customers have also grown to 50 from 5.

OnePort 365 covers air freight, ocean freight, inland haulage, warehousing, marine insurance, and customs brokerage.

“There is great potential to unlock significant commercial opportunities across the continent by addressing the longstanding challenges that have made it difficult to move freights into and around the continent, and we are confident that OnePort 365 has what it takes to succeed,” said Takeshi Watanabe, CEO of Mobility 54 Investment SAS said in a statement.

The new funding will be invested in hiring adequate talent and fueling expansion plans to three new countries in Africa.

Related Posts:

  • notifications
    Nigerian Startup Topship Secures $2.5 Million To…
  • bendable-iphone
    Koolboks Plans To Scale Its Expansion Across Nigeria…
  • koolboks
    Cooling Company Koolboks Raises $2.5m, Plans Nigeria…
  • Nigeria's Klasha Gets $2.1 Million In Additional Seed Funding To Scale Its Products For Cross-border Commerce In Africa
    Nigeria's Klasha Gets $2.1 Million In Additional…
  • Jetstream-Africa
    Ghana's Logistics Startup Jetstream Secures $13…
  • jetstream ghana
    Ghana Based Logistics Startup Jetstream Secures $13m…
  • healthtracka
    Nigerian Health Startup Healthtracka Raises $1.5m In…
  • Topship-Team-Image-crop
    Nigerian Logistics Startup Topship Closed A $2.5m…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Ibhadojemu Emmanuel

Ibhadojemu Emmanuel

Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • Tech Hype vs. Reality – When Big Tech Missed the Mark Pt. 1 May 9, 2025
    • Top 10 Fee-Free Fintech Apps Nigerians Are Turning To After CBN’s New Charges May 8, 2025
    • Airtel Launches Mobile Money in 2026 to Rival M-Pesa & MoMo May 8, 2025
    • Nigeria Hits 172M Mobile Subscriptions; MTN Tops 90M Barrier May 8, 2025
    • WhatsApp Developing AI Chat Wallpapers & Message Summaries May 8, 2025
    • Bill Gates to Wind Down Foundation by 2045, Slams Elon Musk Over USAID Cuts May 8, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Popular Tags

    africa (135) AI (497) android (367) app (717) Apple (576) artificial intelligence (419) business (482) china (132) cryptocurrency (209) ecommerce (122) enterprise (287) facebook (507) fintech (244) funding (121) gadget (558) gaming (201) google (709) government (469) instagram (173) internet (466) ios (291) iphone (246) meta (116) microsoft (369) mobile (352) new feature (384) nigeria (440) privacy (158) research (140) samsung (185) security (421) smartphone (277) social media (835) software (509) startup (419) streaming (174) telecom (242) tips (372) twitter (289) united states (216) users (158) videos (127) website (173) whatsapp (201) youtube (138)

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy

    About Us

    TechBooky

    TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

    Recent News

    Tech Hype vs. Reality – When Big Tech Missed the Mark Pt. 1

    Tech Hype vs. Reality – When Big Tech Missed the Mark Pt. 1

    May 9, 2025
    Top 10 Fee-Free Fintech Apps Nigerians Are Turning To After CBN’s New Charges

    Top 10 Fee-Free Fintech Apps Nigerians Are Turning To After CBN’s New Charges

    May 8, 2025
    Airtel Launches Mobile Money in 2026 to Rival M-Pesa & MoMo

    Airtel Launches Mobile Money in 2026 to Rival M-Pesa & MoMo

    May 8, 2025
    MTN Recovers ₦32 Billion in USSD Fees

    Nigeria Hits 172M Mobile Subscriptions; MTN Tops 90M Barrier

    May 8, 2025
    WhatsApp Developing AI Chat Wallpapers & Message Summaries

    WhatsApp Developing AI Chat Wallpapers & Message Summaries

    May 8, 2025
    Bill Gates to Wind Down Foundation by 2045, Slams Elon Musk Over USAID Cuts

    Bill Gates to Wind Down Foundation by 2045, Slams Elon Musk Over USAID Cuts

    May 8, 2025
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok