Ghanaian logistics startup Jetstream, a platform that enables African businesses to see and control their own cross-border supply chains, has closed a funding round of US$3 million to expand its operations.
Local and international investors participated in the round. They include Alitheia IDF, Golden Palm Investments, 4DX Ventures, Lightspeed Venture Partners, Asia Pacific Land, Breyer Labs, and MSA Capital.
Addy and Torgbor launched the startup after observing the many challenges that companies faced at the ports with cargoes. Torgbor’s past work experience with Maersk freight forwarding company had exposed him to cargoes waiting for weeks because of errors in paperwork or other inconsistencies.
The partners launched Jetstream to act as a vertical broker between the fragmented and often-hidden segments of cross-border supply chains in Africa. It helps customers handle instant pricing, cargo tracking and customs regulation transparency in a clear manner from its dashboard.
Founded in 2018, Jetstream enables African businesses to see and control their own cross-border supply chains. It aggregates private sector logistics providers at African ports and borders, and brings them online.
Jetstream’s business model is straightforward. It charges for the freight, clearance, and financial services offered. For freight, it charges a per-container or per-kilogram fee. For customs clearance, it charges a flat fee that varies depending on the tax category and location of the shipment. And for financing and insurance services, it charges a commission on the value of the goods being shipped.
Jetstream also has activities in Nigeria, with agents in South Africa, China, the United States, the United Kingdom, and Europe. This talent placement is one of Jetstream’s plans for 2028, when the startup intends to have a presence at ports and borders across Africa, accounting for 80% of the continent’s total global trade, according to the CEO.