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Press Release: IAN to Invest in Logistics and E-Commerce in Ethiopia

By Erin O'Connor | Sun Oct 29 2017
Members of RENEW’s Impact Angel Network (IAN) have committed capital to fund Roadrunner Technology Solutions LLC (Roadrunner), which will partner with Universal Courier Services PLC (Deliver Addis) to expand the burgeoning logistics and e-commerce industries in Ethiopia. Deliver Addis is a technology enabled, online food delivery company based in Addis Ababa, Ethiopia, launched in October 2015. To date, the company’s focus has been on business-to-consumer (B2C) delivery, mainly of restaurant orders. The IAN’s investment in Roadrunner is aimed at helping its partner Deliver Addis to become Ethiopia’s leading technology-enabled, last-mile courier service for consumers and businesses.  
“RENEW and the IAN anticipate that this investment in Roadrunner will meaningfully contribute to the Ethiopian economy by creating jobs, reducing emission through the use of more fuel efficient vehicles, and increasing business for local restaurants, grocery stores and companies,” said Matt Davis, CEO of RENEW. He added, “We are grateful to our partners in Ethiopia and the Government of Canada who make, our work in Ethiopia possible.”
Deliver Addis’ founder Feleg Tsegaye commented, “Since we launched Ethiopia's first online restaurant delivery service, people have quickly taken to it with virtually no marketing and have pushed us to expand in ways we hadn't expected. Our partnership with RENEW and the IAN will enable us to build the technology and scale our operations in order to support demands from existing and new customers, including individuals, businesses, organizations and more.”
This is the Impact Angel Network’s ninth investment in its portfolio of eight companies in East Africa.
If you have any questions, please contact: Erin O’Connor at
Renew Capital is an Africa-focused impact investment firm that backs innovative companies with high-growth potential. Renew Capital manages investments made on behalf of the Renew Capital Angels, a global network of angel investors, foundations and family offices who seek financial returns and sustainable social impact. For the latest on investing in Africa, subscribe and follow us at our social links below.

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