TUNL, a shipping platform based in South Africa that helps eCommerce exporters, has successfully secured seed funding to boost its marketing efforts for small and medium-sized enterprises (SMEs).
The funding round was led by the venture capital firm E4E Africa, with contributions from investors like Jonathan Smit, Jozi Angels, and Utopia Capital Management.
This funding comes just ten months after TUNL raised $1 million in pre-seed funding to expand its services in South Africa and enter other key African and emerging markets.
The new investment will help TUNL grow quickly in South Africa by expanding its services, including international payments and enhanced marketing support for SMEs.
Craig Lowman, co-founder of TUNL, shared, “We want to ensure that every business, large or small, can have an equal chance to convert overseas sales. To do this, we are reducing the costs and friction of international shipping via our platform and tools.”
Founded in 2021 by Matthew Davey and Craig Lowman, TUNL addresses the challenges of high shipping costs faced by SMEs, making it easier for them to export their products. The startup offers significant savings on international shipping—between 50% and 80%—by using AI technology for product classification, innovative duty and tax tools, and excellent customer service.
Since its last funding round in 2023, TUNL has seen growth in both revenue and parcel volumes, supporting over 1,350 SMEs across various industries. The company has partnered with South African brands like Versus Socks and Bambalam to help them achieve significant international sales.
Sam Sturm, Chief Portfolio Officer and Co-founder of 54 Collective, emphasized that TUNL is addressing challenges faced by South African merchants that are common worldwide.
Tatenda Nyamuda from E4E also noted that TUNL enables eCommerce merchants and other SMEs across Africa to access new markets, overcoming the high costs of logistics. “We’re confident that this investment will fuel their growth and have a demonstrable impact on African SME competitiveness and job creation,” he concluded.
