Tanzania’s Sumet raised $1.5 M Pre-seed funding to revolutionise FMCG distribution
A US $1.5 million pre-seed funding round has been closed by Tanzania’s Sumet Technologies, a cutting-edge fast-moving consumer goods (FMCG) distribution company, to support its growth in several important strategic areas.
Sumet, which was founded with the goal of changing the FMCG distribution landscape in Africa, uses state-of-the-art technology to help brands enter and grow into new markets with previously unheard-of efficiency.
With over 6,500 active clients and a presence in all 26 Tanzanian provinces, the company is now poised for further growth following the acquisition of US$1.5 million in pre-seed funding.
ABAN, Catalytic Africa, and an Egyptian angel syndicate were among the strategic angel investors who helped secure the investment, which combined debt and equity financing.
“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 expansion in key strategic areas will be fueled by the pre-seed funding, which will also strengthen the development of its operational tech stack, improve operational excellence, increase market expansion, accelerate the growth of its product portfolio, and invest in team development.
“Sumet Technologies is revolutionising consumer goods distribution by facilitating market penetration for new brands and optimizing supply chains across Africa. Their commitment to impact-driven innovation aligns with our mission to foster ventures that drive sustainable economic growth on the continent,” said Fadilah Tchoumba, CEO of ABAN.
