Sumet, a Tanzanian company, has secured $1.5 million in pre-seed funding to transform the distribution of Fast-Moving Consumer Goods (FMCG)

Sumet Technologies, a Tanzanian company specializing in fast-moving consumer goods (FMCG) distribution, has secured $1.5 million in pre-seed funding to expand its operations and drive innovation in the African market. This funding marks a significant milestone for the startup, which has been transforming how consumer goods reach retailers and customers since its founding in 2022.

For Sumet, FMCG distribution is all about using technology. The company combines the power of modern algorithms and predictive analytics to optimize delivery routes, stock management and supply chain optimization. It has helped Sumet connect to more than 6, 500 active retailers in all 26 provinces of Tanzania, thus enabling brands to distribute products in fragmented and informal markets with greater efficiency. Innovating the way we distribute FMCGs with innovative digital solutions has been one of the key competitive benefits of Sumet’s approach to the African retail market.

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The $1. 5 million pre-seed funding is a combination of equity and debt financing and was secured with the help of a range of angel investors including ABAN, Catalytic Africa and an angel syndicate based in Egypt. The funds will help to accelerate Sumet’s advancement in technology infrastructure, expand its presence in the market, grow its product portfolio and build a team, said Hazem Afify, CEO of Sumet. “With this new fund, we are working hard to bridge gaps between distribution channels and create a cost-effective ecosystem that will help brands and their partners scale effectively,” Afify said.

It is easy to see why Sumet has been growing so fast in recent years. Sumet’s business activity has been 15 times more active than the year before, and it has tripled its workforce to over 70 employees – making it an obvious case for the company’s technology-first approach and its determination to ensure that it makes a positive impact for supplier, retailer and consumer.

The company’s impact doesn’t just lie in business – it also benefits the local economy by improving supply chains, enabling new brands to enter the African market – and that is empowering a nation. ABAN and many other investors have expressed praise for Sumet’s commitment to innovation and the fact that it supports startups that benefit the development of the continent.

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As far as the company’s future is concerned, we are well positioned to further expand our activities in other African countries as well as to launch new product lines under the brand Ex-pido to bridge market gaps and take full advantage of high growth opportunities on offer. With a clear ambition of becoming one of the largest FMCG distribution platforms across the continent, Sumet has made a bold move on its path to a more inclusive and dynamic economy.

Sumet pre-seed funding is a fresh look for the company as it continues to revolutionise FMCG distribution in Africa. Building upon its pre-seed tech and strategic investment, the firm is creating sustainable value for all stakeholders, not only the suppliers and customers but also to the companies itself. “These are still the early days; we’re just getting started,” says Sumet’s CEO Hazem Afify.

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