Effective 1 February 2021, Imperial acquired 60% of eCommerce logistics business, ParcelNinja.
London, February 24, 2021 – C5 invested in ParcelNinja in 2015 in Cape Town, South Africa as part of our commitment to support innovative founders in regions that are historically underserved by venture capital but that have thriving innovation and entrepreneurialism.
Through C5’s Diverse Founders Fund seed stage investment fund, we are partnering with innovative founders across Africa to help make venture capital more inclusive and sustainable.
ParcelNinja uses innovative cloud computing technology to build eCommerce distribution networks in informal settlements such as Gugulethu in Cape Town to provide African consumers with a wider range of choices on prices and access to essential goods.
C5 Capital CEO and Founder André Pienaar commented, “The new partnership between ParcelNinja and Imperial will enable ParcelNinja to expand across Africa. C5 is proud to have helped scale ParcelNinja’s innovation and to build this dynamic new partnership with Imperial. The acquisition of an innovative startup like ParcelNinja by a major listed company like Imperial bodes well for the future of venture capital in South Africa and Africa.”
Imperial is a provider of integrated market access and logistics solutions, focused on the African and European markets. Mohammed Akoojee, Imperial’s Group Chief Executive Officer commented, “Imperial brings strong logistics execution ability and an extensive client-base that is relevant and focused on time-sensitive transactions, enabling ParcelNinja to focus on its strength of rapid systems development and deployment. Joining forces with Imperial is the next logical step in ParcelNinja’s journey to expand its reach while remaining sustainable.”
The new capabilities will enable Imperial to expand its offering in B2B and B2C channels for their clients and customers.
Justin Drennan, Co-Founder of ParcelNinja commented, “We are delighted to build a new partnership with Imperial for the next phase of ParcelNinja’s growth and innovation. We want to thank C5 Capital for their support and commitment to ParcelNinja and its founders that helped to enable this great result. It is our hope that South Africa will have more venture and technology deals of this scale to come.”
Press Contact – C5 Capital
About C5 Capital
C5 Capital Limited (C5) is a global specialist investment firm that exclusively invests in the secure data ecosystem and in the transformation of critical infrastructure, including cyber security, cloud, AI, energy, and space. The firm is dedicated to nurturing a secure digital future with an investment strategy that is based on building long-term relationships with innovative companies that share in our mission. For more information, visit: www.c5capital.com.