Depot Raises $6.5 Million to Solve the Storage Crisis In Nigerian Businesses

Logistics has long been thought of as a problem that should be solved after sales are made or inventory is ready. However, delivery isn’t the first point of failure for a lot of Nigerian companies. It begins far earlier, with non-functioning warehouses, untrackable inventories, and items that are left in the wrong location at the wrong time. The systems in charge of moving and storing tangible goods continue to be dispersed, reactive, and unaccountable while businesses concentrate on expansion.

Depot, a logistics infrastructure company, has raised $6.5 million in growth capital to fix the storage and midstream logistics problems Nigerian businesses face every day. The company, founded by Nurudeen Akande, is expanding access to professionally managed warehouses and building the operational systems that make supply chains stable, not speculative.

The company was launched with a simple goal: give Nigerian businesses access to dependable logistics infrastructure without requiring them to build it themselves. It operates warehouse facilities in key markets where goods can be securely stored, managed, and dispatched without the delays and disorder that often come with fragmented storage systems. For growing companies across sectors like manufacturing, wholesale trade, FMCG, and retail distribution, it serves as the physical and operational layer that keeps their supply chain running.

The funding round, backed by regional logistics operators, infrastructure-focused investors, and institutional partners, signals growing recognition that poor storage infrastructure, not just weak transport, sits at the heart of Nigeria’s logistics crisis. While investment in last-mile delivery and logistics tech has increased in recent years, few solutions have addressed the physical disconnection that plagues midstream operations.

The company fills that space. Its warehouses are built with scale in mind, designed to accommodate a range of goods, support structured inventory management, and integrate with distribution networks. Businesses that use the company don’t just get space; they get systems. Goods are logged, stored, accessed, and released with protocols that prioritize efficiency and traceability.

“People underestimate how much money businesses lose not from failed delivery, but from not knowing where their goods are, or having no structure around how they store and move them,” said Nurudeen Akande, CEO and founder of Depot. “That’s what we’re fixing, logistics that starts from the ground up.”

With the $6.5 million raise, the company plans to expand its warehouse footprint into key corridors and trade routes. The company will also invest in better inventory handling tools, integrated documentation systems, and training for its growing operations team. The aim is to ensure that as it grows, it remains consistent, able to meet demand without compromising reliability.

The company’s approach differs from the typical logistics startup playbook. It doesn’t offer abstract dashboards or delivery app integrations as a stand-in for infrastructure. Instead, it’s focused on the overlooked middle: where goods are stored, how long they sit, how quickly they move, and what systems are in place to ensure accuracy. In a market where many companies operate without buffer capacity or real-time inventory control, that middle layer is often the first to collapse under pressure.

The company’s clients range from regional wholesalers moving goods across cities to manufacturers looking for buffer storage near retail centers. For these businesses, having access to storage that’s not just available, but dependable can mean the difference between meeting customer demand or missing it entirely.

The company’s rise points to a broader shift in how supply chain efficiency is being understood in Nigeria. It’s no longer just about last-mile delivery or how fast goods can get to a customer. It’s about how well businesses can organize, store, and access what they sell. It’s about operational visibility, not just speed.

As the company moves into its next growth phase, it’s not promising transformation through flashy tech. It’s offering something many businesses need more urgently: structure, stability, and a logistics foundation they can actually build on.