South African logistics startup Droppa receives funding from IDF Capital for expansion
Droppa, a South African logistics startup, has secured a multi-million rand funding from IDF Capital to expand across the country. IDF is the first female-led African private equity fund by Polo Leteka.
December 06, 2019: Droppa, a South African logistics startup, has secured a R5 million funding from IDF Capital to expand across the country. IDF is the first female-led African private equity fund by Polo Leteka.
Founded in 2018, Droppa is an on-demand delivery service that makes it safer and easier to move office or household goods and furniture. The startup has been expanding its offering over the last year, launching the Droppa Retail B2B platform for retailers, warehouses and small businesses, and introducing Droppa API to allow e-commerce platforms to integrate with Droppa for last-mile deliveries.
At IDF Capital, we have made it our sole mission to support resilient and courageous entrepreneurs. Khathutshelo Mufamadi has been nothing but a prime example.
— IDF Capital (@IDF_Capital) December 5, 2019
Read more about our recent multi-million investment in Droppa. #in…https://t.co/hTjAskICdr https://t.co/C74QtdwvG4
Based in Johannesburg, Droppa plans to expand to more cities across South Africa, including Port Elizabeth and Durban, and that process can now begin after raising funds. IDF has funded Droppa from its seed stage through its I'M IN Accelerator and has made further investment after seeing the startup experience quick growth.
The investment will see Droppa penetrate the national logistics market, while it also aims to drive an increase in skillsets for business communication through technological development to ensure constant and uninterrupted two-way communication channels as well as feedback. Part of the Droppa business development plan is to create a booking management system customised per the retail sector.
IDF Capital has ensured a pan-African presence through a partnership with Nigerian private equity firm, Alitheia Capital, under the brand Alitheia IDF.
