Lori Systems, a tech-driven logistics services company that co-ordinates haulage across frontier markets, was selected among hundreds of candidates as one of the World Economic Forum’s (WEF’s) Technology Pioneers.
Lori’s mission is to drive down the cost of goods. For instance in Africa, $180-billion is spent annually on haulage and logistics, accounting for as much as 75% of a product’s price, compared to 6% in the US.
Billions of dollars’ worth of cargo has been shipped through Lori’s tech and operations-driven marketplace, which efficiently connects transport to shippers. In only three years, Lori has significantly improved logistics transparency, flexibility, reliability and costs.
The WEF’s Technology Pioneers are early to growth-stage companies from around the world involved in the design, development and deployment of new technologies and innovations, poised to have a significant impact on business and society. The Technology Pioneers community is an integral part of the larger Global Innovators community of start-ups at the WEF.
Following its selection as Technology Pioneer, Lori Co-Founder and CEO Josh Sandler will be invited to participate at WEF activities, events and discussions throughout the year. Lori will also contribute to WEF initiatives over the next two years, working with policymakers and private-sector leaders to help define the global agenda on key issues.
“We’re excited to welcome Lori to our 20th cohort of Technology Pioneers,” comments Susan Nesbitt, head of the global innovators community at the WEF. “Lori and its fellow pioneers are developing cutting-edge technologies all over the world. Beyond their innovations, these firms are contributing greatly to improving the state of the world.”
Sandler adds: “We are incredibly honoured to be acknowledged as a pioneer by the WEF, especially among such an impressive cohort.
“Lori’s mission is at the forefront of our company – to drive down the costs of goods in frontier markets. We are leveraging technology to optimise logistics networks to achieve this.
“The current Covid-19 pandemic has really shown the world how the ability to move goods efficiently is essential, and we’re proud our technology continues to be a part of this solution. We look forward to contributing to the WEF dialogues and being a part of this community.”
This year’s cohort selection marks the 20th anniversary of the Tech Pioneers community. Throughout its 20-year run, many Technology Pioneers have continuously contributed to advancement in their industries, while some have even gone on to become household names. Past recipients include Airbnb, Google, Kickstarter, Mozilla, Palantir Technologies, Spotify, TransferWise, Twitter and Wikimedia.
2020 Tech Pioneer firms are shaping the future by advancing technologies, and come from regions all around the world.