Ramani discloses a $32 million Series A to launch new financial services.
Ramani, an African software firm, has announced the successful conclusion of a $ 32 million series A round of equity and debt fundraising. Ramani is building a cloud network of micro-distribution centers to support Africa’s $1 trillion consumer-packaged goods supply chain.
Ramani, established by Iain Usiri, Calvin Usiri, and Kibet Martin, is a software platform that collects data from the supply chain to increase sales visibility and give micro-distribution centers access to financial services.
Ramani assists micro-distribution centers in managing inventory, creating customer profiles, and tracking sales. With the company’s advice, users may increase their income and market share by gaining visibility into their operations and a framework for controlling them.
The platform provides real-time analytics, quota management, stock monitoring, geofencing, check-in history, rewards, and discounts, to name a few things.
They want to utilize the extra funds to develop their network of micro-distribution centers (MDCs) and provide a micro-credit product to some of their MDCs. The Series A investment was led by Jared Schreiber, founder, and CEO of Infoscout, and Flexcap Ventures, a major global investor in cutting-edge technology.
Ramani was initially supported by Y Combinator before receiving undisclosed seed funding in 2021 from Village Global, Goat Capital, Musha Ventures, Hustle Fund, Future Africa, Launch Africa Ventures, Raba Capital, and well-known angel investor James Beshara.
“We’ve leveraged our Silicon Valley links and worked with globally renowned investors, many of whom are successful founders themselves,” Ramani CEO and co-founder Iain Usiri said of the company’s Series A investment round.
“Ramani’s major goal is progressively modifying the consumer packaged goods (CPG) company in Africa for a radically upgraded and more efficient supply chain,” said Andrew Vigneault, Co-Founder & General Partner at Flexcap Ventures. It’s been thrilling to watch Ramani rise to prominence. We are certain that the company’s market-leading growth will be sustained by its outstanding management and cutting-edge technologies.
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Ramani was founded in 2019 by Tanzanians Iain and Calvin Usiri, as well as Kenyan Kibet Martin. They have backgrounds in computer science and finance from major organizations such as Stanford, Google, Salesforce, and CapGemini.
“We’ve leveraged our Silicon Valley links and worked with globally renowned investors, many of whom are successful founders themselves,” Ramani CEO and co-founder Iain Usiri said of the company’s Series A investment round. We want to reward their faith in Africa and us.
The ultimate aim is to open the door for more corporate success in Africa, and this additional money is a significant step toward that goal.
Ramani’s CEO and Co-Founder, Iain Usiri
MDCs in the network have raised their sales by at least 20% since subscribing to and utilizing the platform’s numerous functionalities, such as real-time inventory tracking. Qualifying resellers will soon have access to interest-free credit lines to better manage their cash flow, owing to the upcoming microcredit sector.
Ramani also intends to provide ordinary Africans the opportunity to invest in the trillion-dollar consumer packaged goods (CPG) business and earn a passive income.