Deals and Investment - News around Africa - Profiles - Startup - June 8, 2020

Impact Angel Network Extends Investment in Ethiopian Food Delivery Startup

June 8, 2020

4 min read

Impact Angel Network (IAN) has made a third investment in Roadrunner Technology Solutions, a partner of Ethiopian startup, Deliver Addis.
Since the initial investment of the IAN, the daily deliveries of the company have grown by 630 per cent, said Renew.
The third investment in Roadrunner and Deliver Addis will enable the companies to lower prices and increase efficiency in order to expand customer base and to offer new products and services.

Renew Strategies’ Impact Angel Network (IAN) has made a third investment in Roadrunner Technology Solutions, a partner of Ethiopian startup, Deliver Addis. The announcement was made by Renew in a press release last month.

The size of the current or previous investment has not been disclosed. Renew said since 2015, Deliver Addis has concentrated on delivering food online.

In April, the company added an online platform in response to the Covid-19 pandemic which allows Ethiopian consumers to shop online for groceries and other basic necessities.
Since the initial investment of the IAN, the daily deliveries of the company have grown by 630 percent, said Renew.

READ ALSO: Aptive Capital Calls on Startups Compete Online for $10k InvestmentDeliver Addis was founded in 2015 by Feleg Tsegaye. The startup ‘s LinkedIn profile says the company was established with funding from Microsoft and other partners.

Renew said the investments from the IAN funded network enhancement and an extension of the fleet from Deliver Addis. The food delivery service now supplies food from over 100 restaurants, grocery stores, flowers, and other consumer products.

The third investment in Roadrunner and Deliver Addis will increase the capacity of the companies, allowing them to lower prices and increase efficiency in order to expand customer base and to offer new products and services to the market.

“While it hasn’t been easy to launch and grow an e-commerce platform in Ethiopia, the country is changing every day,” said Tsegaye in the statement.

“We’re seeing consumers adopt technology not only as a luxury, but, in these challenging times, it’s becoming a necessity. We’re pleased to play our role in helping prevent the spread of Covid-19 and to help so many restaurants, local vendors and supermarkets keep their lights on by providing them with an online market.

“We appreciate all of the support we have received from the community and our stakeholders, and we look forward to continuing to serve them,” said Tsegaye.