Deliver Addis, a pioneer food delivery and logistics startup closed a second-round funding.
Deliver Addis (Universal Courier Services PLC) and it's IT Partner Roadrunner (Road runner technology solutions) secured a second investment from Members of RENEW’s Impact Angel Network (IAN), according to the press released in Feb, 22, 2019.
RENEW is an impact investment and consulting firm that manages and serves the Impact Angel Network (IAN) which is an active private equity investors in Ethiopia with 9 companies in it's portfolio.
Deliver Addis is a online food delivery startup based in Addis Ababa, Ethiopia, launched in early 2015 by Felege Tesegaye.
The funding amount is not disclosed. It is remembered that IAN also made the first round of investment back in 2017.
Renew said "Deliver Addis has succeeded in building a loyal customer base by offering meal delivery services from select restaurants around Addis Ababa. Since the IAN’s initial investment in 2017, the company has focused on three main service areas: logistics, B2C focused e-commerce and technology"
"Roadrunner developed a technology platform for Deliver Addis which has enabled the courier company to significantly reduce average delivery times, handle higher volumes and add additional service offerings. In addition, Roadrunner launched a new website for Deliver Addis with additional features, including a loyalty program and credit card payment options, as well as new restaurant offerings."
This second round investment will be used to expand Deliver Addis service offerings which include adding more restaurants, a soon-to-be launched menu of retail products and expansion to new markets in Ethiopia.
Matthew Davis,RENEW’s CEO speaking about this, said “RENEW and the IAN exist to invest in smaller companies like Roadrunner and Deliver Addis, which are creating jobs for Ethiopian men and women by supporting local businesses and which can deliver strong performance following an investment.”
Felege Tsegaye, founder of Deliver Addis said “RENEW and the IAN have been incredible partners during our growth since their first investment last year and we're glad to see that they are as optimistic about Ethiopia as we are."