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Ramani, based in Tanzania, has just announced the completion of its US$32 million Series A funding round.
Ramani is creating a cloud network of micro-distribution centers to support the supply chain for consumer-packaged goods in Africa.
Flexcap Ventures and Jared Schreiber led the funding round.
Iain Usiri, Calvin Usiri, and Kibet Martin founded Ramani in 2019, with the goal of resolving fragmented consumer goods supply chains that are typically hampered by a lack of data visibility and restricted access to financial services.
To expand its customer base, the company last year obtained a lending license from Tanzania’s Central Bank.
“Our ultimate goal is to facilitate the success of businesses in Africa, and this new capital is a further pillar in that construction. We have worked with internationally famous investors, many of which are successful founders themselves, by utilizing our connections in Silicon Valley. Usiri stated, “We are dedicated to returning their faith in us and in Africa.
It has been enjoyable to observe Ramani’s success and traction thus far, and Flexcap Ventures co-founder and general partner Andrew Vigneault is certain the firm will continue to grow at a market-leading rate, supported by a strong leadership team with great technical know-how.
With this additional fund, Ramani will expand its network of MDCs and introduce a new microcredit program for a selection of MDCs.
Read more on Tech Gist Africa:
NALA, a Tanzanian fintech startup, has raised $10 million in capital to expand
Grinta, an Egyptian startup has secured a $8 million in a seed round of funding
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