GET IT, Rwandan Food Logistics Startup Raises Series A funding

Rwanda’s leading food logistics startup GET IT has secured a Series A funding round to expand its operations and give it a platform for future regional growth. Launched in 2014, GET IT combines food production, manufacturing, and distribution to build an integrated food ecosystem. The startup leads with domestic distribution to commercial kitchens and hospitality outlets, specialising in fresh fruits and vegetables, while it also offers a full in-stock portfolio of dry goods tailored to commercial kitchen needs.

founder of GET IT Lauren Nkurang
founder of GET IT Lauren Nkurang

According to the founder of GET IT Lauren Nkuranga, “we provide meat, dairy, seafood, cleaning products, amenities, and other consumables for our hospitality and restaurant clients, this we do on top of our instock products. Moreso, we work with clients from Marriott, to Wilderness Safaris, One&Only, Singita, and Rwandair.”  She added that “through our work in fresh produce, we have not only developed a strong network of 50 outgrowers, we have built significant backward linkages into the horticultural supply chain.”

Read also:https://afrikanheroes.com/2020/05/09/tanzanias-agritech-startup-east-africa-fruits-raises-3-1-million-to-confront-the-countrys-food-distribution-challenges/

GET IT also has a primary production arm, whereby it grows its own fresh horticultural produce, while it also partners with manufacturers to do simple processing of the products it grows for export and domestic distribution. The startup closed a fully subscribed Series A round, the amount of which is undisclosed in June, led by VestedWorld with Chandaria Capital following on top of an existing investment in the company. The remaining funders are individuals. 

Read also:https://afrikanheroes.com/2020/07/19/new-16-7-million-equity-fund-for-startups-in-south-africa-by-samsung-here-is-how-to-go-about-it/

“The round will enable GET IT to expand to a fully articulated model of hospitality distribution, manufacturing partnerships, and primary horticultural production in Rwanda. We anticipate this fully articulated model will provide the platform for future regional expansion,” Nkuranga said. “Our goal is to be the leading food logistics company among East, West, and Central Africa.”

GET IT started life as a household retail distribution company, specialising in grocery delivery. “I did the first 500 deliveries out of the back of my car in Kigali. Through 2015 we discovered that there was no “broadline” food service distribution company, not only in Rwanda, but in all of East, West, and Central Africa. In 2016 we transitioned the company to be solely dedicated to broadline food service distribution, with a specialty on fresh fruits and vegetables. We built a network of outgrowers to provide over 100 varieties of produce to high end hotels, restaurants, and commercial catering companies,” Nkuranga said. 

Read also:https://afrikanheroes.com/2020/05/21/kenyan-agritech-startup-apollo-agriculture-raises-6m-series-a-to-further-scale-its-business/

The company supplies commercial kitchens throughout Rwanda – not only in Kigali. “We also send trucks to the Volcanoes National Park, Akagera National Park, Lake Kivu resorts and Nyungwe National Park,” adding that “as we built backward linkages into our supply chain,  we discovered significant barriers to growth with our outgrower network. We also saw significant opportunity to grow our product for export and domestic distribution.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

VestedWorld Invests In African Early-stage Startups Vanu and GET IT

VestedWorld, the Chicago-based impact investor, has made two investments in Vanu, an Africa-focused internet software startup, and in Rwanda-based GET IT, a food distributor. 

Lavanya Anand
Lavanya Anand

Vanu manufactures equipment and software to help mobile operators build and operate cellular networks in rural areas at an affordable price. The company’s objective is to allow 1.2 billion unconnected people worldwide to access Internet users. 

The current roadblock is expensive: the average cell tower costs $ 100,000 to $ 250,000 to build and $ 30,000 to $ 40,000 a year to operate, says Lavanya Anand of VestedWorld. “This dynamic makes it unprofitable to build traditional cellular towers in areas that serve less than 20,000 mobile subscribers.”

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Vanu’s towers are much cheaper to install and operate, adds Anand. “Vanu’s towers can be built and operated economically in areas with as few as 500 mobile subscribers. We believe Vanu’s solution will be a faster and more cost-effective way to extend connectivity to remote areas than tastes of the Google Loon Project “- Google’s network of” stratospheric balloons “designed to provide Internet services in remote areas. 

Vanu is present in India and Rwanda and has partnered with the mobile network operator MTN in Zambia, South Africa and Benin. VestedWorld participated in series A of Vanu. 

The company is looking to raise up to $ 11 million and closed $ 8.8 million in March, according to a recent SEC file. 

VestedWorld now has a dozen companies in its portfolio and invests from its second fund. It recently invested in the Nigerian agro-processor Tomato Jos, alongside Alitheia Capital and Acumen. GET IT runs a food distribution and logistics company in Rwanda. 

The company uses off-grid cold storage facilities to prevent spoilage of food from its own farm and other suppliers while transporting agricultural products and managing exports. VestedWorld has invested an undisclosed amount in the A series of GET IT. Nairobi-based venture capital debt company EquaLife Capital is also an investor.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.