Deliver Addis, Ethiopia’s online food delivery firm has raised follow-on funding from RENEW and the Impact Angel Network through its partner Technology Solutions LLC (Roadrunner).
Deliver Addis founder Feleg Tsegaye said, “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.”
The third investment in Roadrunner and Deliver Addis will increase the companies’ capacity, enable them to reduce prices and increase efficiency to expand market share and offer new products and services to the market.
Roadrunner and Deliver Addis handle large amounts of orders and coordinate drivers to shorten delivery times. The IAN’s investments financed the enhancement of this platform and an expansion of Deliver Addis’s fleet. The firm now provides food from over 100 restaurants, groceries, flowers, and other consumer products.
Founded in 2015, the firm received the third investment in April 2020, in response to increased demand caused by the COVID-19 outbreak.
With the funding, the firm has expanded services to include an online marketplace that enables Ethiopian consumers to shop for groceries and other essential goods online. Since the IAN’s initial investment, the company’s daily deliveries have grown 630%.
“As both a frequent user of Deliver Addis and owner of Roadrunner, I couldn’t be more excited about this investment,” said Matthew Davis, RENEW’s CEO. “Not only is the need for such services of national importance to control the spread of COVID-19, but it is also keeping hundreds of people employed through Deliver Addis and the small businesses they support. Feleg is a visionary and a skilled technician. We’re excited to back him and drive Deliver Addis into new markets.”
RENEW, with operations in Addis Ababa, Ethiopia, manages the IAN’s investment operations and provides investment advisory and consulting services in support of its investments. RENEW’s work in Ethiopia was piloted with USAID and is currently undertaken with financial support from the Government of Canada provided through Global Affairs Canada.