# Sendbox

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sendbox

- Industry: Logistics & Distribution
- Headquarters: Lagos, Nigeria
- Website: www.sendbox.co
- Total disclosed funding: $1.8M
- Latest round: Seed (Oct 18, 2021)
- Investors on record: 8

## About

Sendbox is an innovative logistics company specializing in e-commerce delivery solutions, streamlining shipping processes to enhance operational efficiency for businesses in Africa.Founded in 2016 and headquartered in Lagos, Nigeria, Sendbox provides logistics solutions tailored for e-commerce. The company has completed three funding deals, the most recent being a Seed round in October 2021, where it raised USD 1.8 mn led by 4DX Ventures with participation from various investors. The founders, Emotu Balogun and Segun Afolahan, have a strong background in technology and entrepreneurship, with Balogun serving as CEO.Sendbox offers a comprehensive suite of logistics and delivery solutions designed to streamline the shipping process for e-commerce businesses. Their core product is a software platform that facilitates the management of shipping logistics, providing features such as real-time tracking, simplified order fulfillment, and automated label generation. This platform serves a diverse client base, including small to medium-sized e-commerce retailers looking to optimize their shipping operations and enhance customer satisfaction. Sendbox primarily targets markets in Africa, specifically Nigeria, Kenya, and South Africa, addressing pain points in logistics such as delays, high shipping costs, and inefficient tracking.The revenue model of Sendbox is primarily structured around transaction-based fees for their logistics services. Clients engage with the platform through a subscription model that provides access to various shipping solutions tailored to their business needs. Each transaction typically involves charges that are calculated based on the volume and distance of the shipments, directly correlating to the services utilized. Sendbox's offerings may include flagship products that enhance operational efficiency, such as their tracking and analytics tools, designed to provide clients with insights into shipping performance.In October 2021, Sendbox raised USD 1.8 mn in Seed funding led by 4DX Ventures, with participation from Enza Capital Management, FJ Labs, Flexport, Inc, Golden Palm Investments Corporation, and Y Combinator. This funding will be utilized to open new markets for small-scale merchants and to help build out West Africa’s e-commerce operating system. The company is focusing on expanding its reach in African markets, particularly targeting the increasing demand in regions with growing e-commerce sectors.

## Funding rounds

- Seed, Oct 18, 2021, $1.8M — Y Combinator, FJ Labs, 4DX Ventures, Golden Palm Investments Corporation, Enza Capital Management, Flexport, Inc
- Seed, Mar 24, 2021 — Y Combinator, FJ Labs, Musha Ventures
- Seed, Jun 1, 2018 — 4DX Ventures, Microtraction

## Investors

- 4DX Ventures (https://capitalatlas.ai/funds/4dx-ventures) — Seed
- Microtraction (https://capitalatlas.ai/funds/microtraction) — Seed
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- FJ Labs (https://capitalatlas.ai/funds/fj-labs) — Seed
- Musha Ventures (https://capitalatlas.ai/funds/musha-ventures) — Seed
- Golden Palm Investments Corporation (https://capitalatlas.ai/funds/golden-palm-investments-corporation) — Seed
- Enza Capital Management (https://capitalatlas.ai/funds/enza-capital-management) — Seed
- Flexport, Inc — Seed