Warwickshire's OX Delivers delivers strong Q1 results
OX Delivers, the e-mobility start-up dedicated to revolutionising b2b goods transport across the Global South, has delivered its strongest Q1 financial performance to date.
The company generated $262,000 revenue in the first three months of the year, as well as scaling EV operations in Rwanda.
During the first three months of 2024, the OX Delivers completed 258 zero tail-pipe emission journeys covering more than 18,000km, providing reliable, affordable transport-as-a-service and transforming the lives of thousands of people in Rwanda by delivering their produce to market in a highly efficient manner.
Demand has completely exceeded expectations since the start of service operations in Rwanda in 2021. Today, OX Delivers supports more than 4000 customers, ranging from the Bank of Rwanda to smallholder farmers and traders. 80 per cent of orders come from repeat customers.
Simon Davis, Founder & CEO of OX Delivers commented: “2024 is an exciting year for OX Delivers as we continue to scale our operations in Rwanda and launch our next-generation electric truck.
"OX Delivers is enabling our customers to 10X their businesses by connecting them to new markets. This transformative impact shows the power of the OX Delivers approach and will enable us to truly change the way Africa does business.
"This proves the OX Delivers business model designed to enable entrepreneurs to get their goods to market. With no direct competitors in this field, OX Delivers has the potential to expand its offer to service millions of customers."
