Impact Angel Network makes follow-on investment in Ethiopian food delivery startup

Members of US impact investment firm Renew Strategies‘s Impact Angel Network (IAN) have made a third investment in Roadrunner Technology Solutions, a partner of Ethiopian startup Deliver Addis.

The announcement was made in a press release last month by Renew. Neither the size of the current investment or the previous ones were not disclosed.

Renew said since 2015, Deliver Addis has focused on online food delivery. In April, in response to the Covid-19 pandemic the company added an online marketplace that enables Ethiopian consumers to shop for groceries and other essential goods online.

Deliver Addis now provides food from over 100 restaurants, groceries, flowers, and other consumer products

Since the IAN’s initial investment, the company’s daily deliveries have grown 630%, said Renew.

Deliver Addis was founded by Feleg Tsegaye (pictured above) in 2015. The startup’s LinkedIn profile says the business was founded with support from Microsoft and other partners.

Renew said the IAN’s investments financed the enhancement of the platform and an expansion of Deliver Addis’s fleet. It said Deliver Addis now provides food from over 100 restaurants, groceries, flowers, and other consumer products.

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.

“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.

Featured image: Deliver Addis founder Feleg Tsegaye (Facebook)