SOTE is a technology company.
SOTE has raised $4.0M across 1 funding round.
Key people at SOTE.
SOTE has raised $4.0M in total across 1 funding round.
Sote is a technology company building data-driven solutions for trade finance, logistics, and supply chain management, primarily targeting African businesses to bridge the $150 billion trade finance gap in the $400 billion industry.[1][4] It fuses trade finance, data analytics, and logistics through AI-powered tools that provide credible trade data, real-time supply chain visibility, credit analysis, risk management, and cash flow-based financing alternatives to traditional real-estate collateral.[1] Serving traders, manufacturers, and renowned banks, Sote streamlines supply chains, enables scalable financing, and acts as a data mining engine for business intelligence akin to Moody's insights, with $11.4 million in revenue and 61 employees.[1][4]
Growth momentum includes operations across Africa from bases in Palo Alto, California, and Lagos, Nigeria, leveraging advanced tech like JavaScript, HTML, PHP, and blockchain in financial services, AI, data analytics, and transportation sectors.[1][5]
Founded in 2019, Sote emerged to empower African trade amid data shortages hindering the $400 billion industry, with "Sote" meaning "all of us" in Swahili, reflecting its mission to grow the continent's GDP through trade facilitation.[1][4] The company started by addressing the lack of credible trade data, evolving into a digital logistics infrastructure provider that integrates trade finance, data, and logistics.[1][5] Early traction came from banks adopting its credit analysis and risk tools, while logistics solutions gained momentum by offering real-time visibility and automated data mining, positioning Sote as a key player in Africa's supply chain ecosystem.[1][4]
(Note: A separate entity, Sote Logistics, shares a similar 2020 founding in Lagos and mission focus, but primary sources confirm Sote's distinct 2019 origins and broader scope.[1][5])
Sote rides the wave of Africa's digital transformation in logistics and fintech, where market forces like a $150B trade finance gap, rising e-commerce, and supply chain digitization create tailwinds amid continent-wide GDP growth ambitions.[1][4] Timing aligns with post-pandemic supply chain disruptions and AI adoption, enabling real-time data to replace outdated collateral models and support intra-African trade under AfCFTA.[1][5] It influences the ecosystem by providing banks with Moody's-like insights and empowering MSMEs with financing access, fostering a data-rich environment that accelerates trade, reduces risks, and scales startups in logistics-heavy sectors.[1]
Sote is poised to expand its logistics-data-finance nexus across Africa, potentially capturing more of the $400B trade market as AI and blockchain mature.[1][4] Trends like climate-resilient supply chains, blue economy digitization, and pan-African trade pacts will shape its path, amplifying influence through partnerships with banks and MSMEs.[1][3][5] Expect deeper integrations, revenue growth beyond $11.4M, and ecosystem leadership in data-driven trade empowerment—solidifying Sote as a cornerstone for African business scalability.
Key people at SOTE.
SOTE has raised $4.0M in total across 1 funding round.
SOTE's investors include ACME Capital, Anorak Ventures, Backstage Capital, Denham Capital Management, FasterCapital, foobar.vc, Forum Ventures, Hyperplane, Long Journey Ventures, MaC Venture Capital, Plug & Play Ventures, Radix Innovation Capital.
SOTE has raised $4.0M across 1 funding round. Most recently, it raised $4.0M Seed in November 2020.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Nov 1, 2020 | $4.0M Seed | ACME Capital, Anorak Ventures, Backstage Capital, Denham Capital Management, FasterCapital, foobar.vc, Forum Ventures, Hyperplane, Long Journey Ventures, MaC Venture Capital, Plug & Play Ventures, Radix Innovation Capital, Dean Donovan, Guilherme Bonifacio, Jeppe Rindom, Klaus Nyengaard, Roger Kuo, Sarah Drinkwater, Scott Banister, Shane Neman, Shervin Pishevar, Alt Capital, Andreessen Horowitz, Banana Capital, Buckley Ventures, Harry Hurst, Jude Gomila Rolling Fund, LGF, Not Boring Capital, Oliver Cameron, Pareto Holdings, Ribbit Capital, Rob Solomon, Scott Belsky, Section 32, Social Capital, Todd and Rahul's Angel Fund, Vibe Capital |
