Tanzania’s Sumet Technologies, an innovative fast-moving consumer goods (FMCG) distribution company, has closed a US$1.5 million pre-seed funding round to drive its expansion across key strategic areas.
Founded with a mission to reshape the African FMCG distribution landscape, 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, and it is now set for further expansion after raising US$1.5 million in pre-seed funding.
The investment, combining equity and debt financing, was secured through a strategic mix of angel investors, including ABAN, Catalytic Africa, and an angel syndicate from Egypt.
“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.”
The pre-seed funding will drive Sumet’s expansion across key strategic areas, strengthening its operational tech stack development, improvising operational excellence, boosting market expansion, accelerating product portfolio growth, and investing 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.
