FOUNDER (S):
Temesgen Fesseha, Co-founder/ Marketing and Sales; Dagim Feyessa, Co-founder/ Developer; Yonathan Feyessa, CEO/Developer / Co-founder; Abdurazak Abrar, Co-founder/ Chief Technical Officer.
INSPIRATION TO START THE BUSINESS
Most business in Ethiopia have not digitized their business operation systems resulting in poor efficiency and performance. We decided to build an affordable tech solution that can match their culture and business needs.
BACKGROUND OF FOUNDER (S):
All founders have Electrical Engineering Degree as Educational Background from Addis Ababa University and Arbaminch University
DESCRIPTION OF BUSINESS ACTIVITIES:
Our main goal as a company is to provide local businesses with the ability to make future decisions based on data. We do this by doing line of business applications in various sectors and then creating deep analytics on that data.
50 Lomi is a management platform that helps business owners efficiently monitor and collect actionable data regarding their business operations. The multi-purpose Cloud ware helps managers have real time data applicable in the following sectors: hospitality industry, warehousing and inventory, hospitals, shipping and logistics companies, manufacturing and industrial plants.
Clients include/client base: Segon Marill and Black Lion Hospital Previous contract values/sales: USD2K – USD3K Milestones: Secured an exclusive deal with Black Lion Hospital (the first and one of the largest general hospitals in Ethiopia
– Years in Operation – 5
– Number of staff – 5
KEY CHALLENGES
Some regulation regarding point of sale systems in Ethiopia has held us back.
SOCIAL IMPACT
Our key social impact is that our company has the objective of improving the efficiency/productivity among local businesses in Ethiopia. This will enable them to access finance, scale up and create more jobs for growing numbers of unemployed youth.
FUTURE EXPANSION PLANS
We are planning to enter the consumer market with products in the e-commerce and hospitality industry.
FUNDING REQUEST
Annual Turnover
Under 500,000 birr
Amount of Financing Needed (USD)
100 K