Tanzanian supply chain solutions provider Ramani has raised $32M in debt and equity in a Series A round that was led by Flexcap Ventures.
The software company is building a cloud network of micro-distribution centres (MDCs) across Africa, making it easier for suppliers within the consumer-packaged goods ecosystem to connect.
The startup says it is keen on fixing the fragmented consumer goods supply chains that traditionally suffer from a lack of data visibility and are burdened by limited access to financial services. To do this Ramani provides tech-enabled inventory management systems, procurement, and point-of-sale software to digitise the processes of MDCs, helping them gain real-time sales insights and inventory visibility.
“Ramani is then also able to leverage this data to offer up inventory with delayed payment terms, enabling them to scale,” the company said in a statement.
Company CEO and Co-founder Iain Usiri said, “Ultimately, we want to make it easier for businesses to succeed in Africa and this new capital is another brick in that foundation. We’ve leveraged our Silicon Valley relationships and partnered with globally renowned investors, many of whom are successful founders themselves. We’re committed to repaying their faith in us and in Africa.”
With this new capital funding, Ramani says it will scale its network of micro-distribution centres (MDCs) and also launch a new micro-credit offering for select MDCs.
The company was founded in 2019 by brothers Ramani was founded by brothers Iain and Calvin Usiri, and Kibet Martin, all of whom have a background in computer science and finance.