Kenyan startups, Twiga Foods and Lori Systems have been selected among hundreds of candidates for the World Economic Forum’s “Technology Pioneers” of 2020. They are the only two African startups selected for the 2020 Technology Pioneers.
Twiga Foods is a Kenyan based digital business-to-business platform that builds fair and reliable markets for agricultural producers, food manufacturers and retailers through transparency, efficiency and technology. Twiga Foods is backed by Goldman Sachs, IFC, TLcom Capital, and Creadev.
Lori Systems which was was launched in May 2017 in Kenya operates as an online platform that leverages on-the-ground operation teams and technologies to connect cargo owners with truck fleets, helping them increase the utilization of trucking assets and realize on-time delivery to lower costs of goods in Africa.
Lori Systems recently secured nearly $30 million in a Series A round of financing led by Chinese investors Hillhouse Capital Group and Crystal Stream Capital (also known as Qingliu Capital).
Following the selection of Twiga Foods and Lori Systems as Technology Pioneers, the CEO both startups will be invited to participate at The World Economic Forum activities, events, and discussions throughout the year.
They will also contribute to The World Economic Forum initiatives over the next two years, working with policymakers and private sector leaders to help define the global agenda on key issues.
Commenting on the Award, Twiga Foods’ CEO & Co-Founder, Peter Njonjo said: “It’s great to be acknowledged as a pioneer by The World Economic Forum.
“We want to be a one-stop shop for informal retail through technology in Africa. This recognition is a great endorsement to our strategic direction as we continue executing our mission of feeding and supplying Africa’s growing urban population with traceable, quality and affordable products.”
“We’re excited to welcome Twiga Foods and Lori Systems to our 20th cohort of Technology Pioneers,” said Susan Nesbitt, Head of the Global Innovators Community, World Economic Forum.
“Twiga Foods, Lori Systems and its fellow pioneers are developing cutting edge technologies all over the world. Beyond their innovations, these firms are contributing greatly to improving the state of the world.”
Launched in 2000, the Technology Pioneer community comprises early to growth-stage companies from around the world that are involved in the design, development and deployment of new technologies and innovations, and are poised to make a significant impact on business and society.