Equity Firm Injects Cash into Food Delivery Company

May 23 , 2020


Equity Firm Injects Cash into Food Delivery Company

Impact Angel Network, a member of RENEW, has funded the third investment in Roadrunner Technology Solutions, a partner of Deliver Addis, an online food delivery company. Deliver Addis, which has been operational since 2015, has focused on online food delivery but dove into the online marketplace business as of April as a response to the increased demand caused by the Novel Coronavirus (COVID-19) pandemic. It enables consumers to shop for groceries and other essential goods online. Since last month, the company’s daily deliveries have grown by 630pc. Roadrunner and Deliver Addis’s platform is designed by Feleg Tsegaye, the founder of the companies. Deliver Addis now provides food from over 100 restaurants, alongside groceries, flowers and other consumer products. The third investment in Roadrunner and Deliver Addis will increase the companies’ capacities, enable them to reduce prices and increase efficiency to expand its market share and offer new products and services to the market, according to a statement from RENEW.


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