8 November, 2019
Earlier today, a press release was issued in Mandarin by a Lori investor in regards to our fundraising activities. Subsequent unofficial translations of the release into English mischaracterized our Series A raise, so we wanted to take the opportunity to clarify. Lori concluded a (to date unannounced) Series A raise for an undisclosed amount. It was led by Hillhouse Capital and Crystal Stream Capital, with participation from partners at DST, EchoVC, Timon Capital, Raba, Ryan Peterson (CEO of Flexport), Iyinoluwa Aboyeji (founder of Flutterwave, Andela) and Endeavor — among others. We are so excited to partner with these incredibly supportive investors, who are joining us on our drive of accelerated growth- all with the intention of revolutionizing logistics across Africa to bring down the costs of goods. We are thankful for their tremendous contributions and look forward to the road ahead!