Founded by a group of investors in 2020, Addis Ababa Angels Network invests in startups and entrepreneurs in exchange for equity ownership aiming to build a robust startup ecosystem in Ethiopia that addresses the existing funding gap and targets early-stage innovative startups.
This is AAA’s second official investment. Last year, the angel network has also invested in another logistics company Across Express. Across Express provides a platform that connects users with delivery and freight shipment needs with service providers.
The investment amount that Eshi secured is not disclosed. According to a press release sent to Shega, Addis Ababa Angles Network is confident that Eshi Express is the most suited company that can revolutionize last-mile delivery in Ethiopia with close to four years of track record and a dynamic team. Eshi Express envisions to solve the last-mile delivery challenge with optimized processes and innovative technology that will provide convenience and lower prices of goods as a result help companies grow without any additional cost to them.
“Eshi Express met AAA’s standards for investment as it is a tech-enabled and scalable business with a great team that is coming out just as the country is experiencing a digital revolution of sorts. They have a unique opportunity to be part of this revolution”. Remarked Mr. Yosef Kibur, Owner of Yaya Investment & Cofounder of AAA
Currently, Eshi Express’s main operations are in Addis Ababa and two regional cities, with the latest investment and strategic support from AAA Network, Eshi plans to scale up its business and expand to multiple regional cities soon.
Customers can order delivery service via Eshi’s call center-number 670 or the Eshi App available for download on the App Store and Google Play which allows people to place and track orders live from pick up all the way to delivery.
“At Eshi Express our core belief is companies with a great mission will bring positive and lasting change to society. And we’re excited to partner with Addis Ababa Angel Investors as it will enable us to make a strong impact and expand our reach.” Says Haben Gebre, Eshi Express’s Co-founder and COO, former manager at Amazon U.S. with experience in East and West Africa logistics industry who recently joined Eshi Express.
Dr. Eleni Gabre-Madhin, chief happiness officer at blueMoon, one of the major players in Ethiopia’s growing youth startup ecosystem, stated “We have had our eyes on Eshi Express for several years. It’s all about the team, and we are very confident that Eshi’s Team is positioned for great success. We wish them all the luck – yes to Eshi!”