KENYA: LORI SYSTEMS WINS TECHCRUNCH BATTLEFIELD AFRICA - CALIPHATE MEDIA

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Thursday, 19 October 2017

KENYA: LORI SYSTEMS WINS TECHCRUNCH BATTLEFIELD AFRICA




Lori system, a Kenya based  startup has been announced  as the winner of the inaugural TechCrunch Battlefield Africa 2017 in Nairobi, winning US$25,000 in equity-free funding and an all-expenses paid trip to compete in next year Battlefield at TechCrunch’s flagship event in San Fransico, Disrupt SF 2018.

Lori system an e-logistics platform was named “Sub-Saharan Africa’s Most Promising Startup”, and also won the productivity and utility category.
AgroCenta a Ghanian agri=startup was chosen as the winner of the social good category, SynCommerce  another Ghanian startup– won the top prize in gaming and entertainment.

According to Ned Desmond, chief operating officer (COO) at TechCrunch “We decided to bring the Battlefield to Sub-Saharan Africa because its tech market is on the rise – the region has produced its first unicorn in the shape of Jumia, exits are increasingly frequent, and global venture capitalists are taking note. Our judges were impressed by the high quality of the finalists, their creativity and their focus on solving real problems, often with limited resources,”.
“We love to see startup ecosystems develop, and hope that Battlefield Africa will shine a light on the many promising, world-class young tech companies in the region.  We look forward to meet Lori Systems again in San Francisco, where it will join the best and brightest entrepreneurs, investors, hackers, and tech fans in the world for the global Startup Battlefield.”
Based in Nairobi, Lori has built a logistics platform that is revolutionising the cargo-transport value chain in Africa – from the ground up.
The relative cost of moving goods in East Africa is one of the highest in the world, leading to up to 75% of a product cost's going to logistics (compared to 6% in the US).
Lori enables the logistics space to operate at an order of magnitude more efficiently than it does today.
Higher efficiency through Lori has been demonstrated to drive costs down which, in turn is expected to create new jobs & stimulate overall economic development in a tangible way.
TechCrunch’s Startup Battlefield is the world’s preeminent startup competition. The Battlefield features 15-30 top early stage startups pitching top judges in front of a vast live audience, present in person and online. The winner takes away the Disrupt Cup and check for $50,000, and all the contestants enjoy immense press, investor and partner attention, along with membership in the elite ranks of Battlefield alums.

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