Last week, FMCG distribution startup Sumet Technologies announced the successful completion of a $1.5 million pre-seed funding round. The investment, a combination of equity and debt financing, was raised from a mix of angel investors, including ABAN, Catalytic Africa, and an angel syndicate from Egypt. According to a company representative, the startup expects to close a seed round within the next 12 months.
Sumet leverages cutting-edge technology to enable brands to enter and expand into new markets with unprecedented efficiency. The company has already established a significant presence, covering all 26 provinces of Tanzania and serving over 6,500 active customers.
“At Sumet, we’re tackling one of Africa’s biggest challenges – enabling new brands to enter and grow in the market,” said Hazem Afify, CEO of Sumet. “This funding is crucial to strengthening our tech stack, bridging distribution gaps, and building a dynamic, cost-effective ecosystem that empowers brands to scale effectively.”
Sumet’s solutions address the complex barriers that traditionally prevent brands from successfully entering African markets. The company’s innovative technology-powered approach transforms the traditional distribution landscape by simplifying market entry, dramatically reducing financial risks, and creating a more accessible pathway for businesses.
Where conventional distribution models struggle with high operational costs, extensive credit risks, and resource-intensive market penetration strategies, Sumet offers a breakthrough solution. By deploying advanced data analytics and streamlined technological infrastructure, the company minimizes financial barriers and operational complexities that typically discourage brand expansion.
The pre-seed funding will support Sumet’s expansion plans into new markets as well as help to strengthen the company’s tech stack development, improve its internal operational processes, hire and train more people, and grow its range of Expido-branded products.
As well as facilitating brands’ entry into new markets, Sumet creates what it calls an ecosystem of opportunity, empowering local entrepreneurs, particularly women-led businesses, by integrating them into a sustainable, technology-driven distribution network. This approach not only underpins commercial growth but also drives meaningful economic inclusion across African communities.
“Sumet Technologies is revolutionizing consumer goods distribution by facilitating market penetration for new brands and optimizing supply chains across Africa,” said Fadilah Tchoumba, ABAN’s CEO. “Their commitment to impact-driven innovation aligns with our mission to foster ventures that drive sustainable economic growth on the continent.”
The financial and valuation terms of the investment remain confidential. All due diligence and other transaction requirements for the round were fulfilled by internal resources.
Be the first to comment