Addis-based last-mile delivery company Eshi Express has closed a seed round from Addis Ababa Angles Network. ‘Eshi‘ which stands for yes in the Geez language, is an affirmative indication that the company is looking to new possibilities. Eshi Express will channel the investment into achieving a strong impact and expanding overall reach.
Addis Ababa Angels (AAA) was founded in 2020 by a group of investors to promote economic development and sustainability across Ethiopia. The group invests in entrepreneurs and startups in exchange for equity ownership.
Addis Ababa Angels Network believes that Eshi Express is best suited to transform the last mile delivery in Ethiopia given its four-year track record and highly dynamic team. The startup looks to solve last-mile delivery challenges by employing optimized processes and innovation.
Mr. Yosef Kibur, Co-founder of AAA, described Eshi Express as a “tech enabled and scalable business” and “a great team.”
The new investment and strategic support from Eshi Express will see the startup expand operations past Addis Ababa and two other regional cities. Currently, customers can only order delivery services through Eshi’s call center number or the app available on Google Playstore/ Apple iOS.
Haben Gebre, CEO and Co-founder Eshi Express described the intent of their mission as to “bring positive and lasting change to society.”
Delivery services across the Ethiopian economy are highly fragmented and mostly done by company vehicles, personnel, and several informal players. As a result, the country in turn experiences management headaches, inconvenience to people and organizations, and a high cost of goods. Addressing last-mile challenges will be vital for economic growth and the country’s digital transformation as a whole.