IMIZI Rum, a Rwandan spirits brand, has said that it has raised $500,000 (approximately Rwf686 million) in a pre-seed funding in less than a year round led by angel investors from North America, the United Kingdom, Singapore, and Rwanda.
According to the company, the round was raised through a cohort of angel investors spanning four continents and includes individuals from both within and outside the spirits industry.
"Their breadth of experience and belief in IMIZI's potential make them ideal partners for this phase of growth, and the funding was raised through equity," said Pierra Ntayombya, Co-Founder of IMIZI Rum.
ALSO READ: Detectives pounce on fake liquor distillery in Kigali, 10 arrested
IMIZI currently produces 100 bottles of rum per month supplied in Rwanda. The distillery plans to allocate a significant share of the funding raised to boost production capacity, market expansion, and operational growth.
ALSO READ: Public cautioned against illicit liquor
"The funds will allow us to scale production capacity, support international distribution, and establish a local brand house to anchor our operations, scaling thoughtfully while upholding the craftsmanship and quality that define IMIZI Rum," Ntayombya explained.
The company's long-term strategy, Ntayombya added, is centered on building strong distribution partnerships with established players who understand the premium spirits market and have networks in key regions.
Ntayombya also said that expanding internationally comes with its challenges, from adapting to new market dynamics to ensuring operational efficiency.
"We are proactively addressing these by forming strategic partnerships and focusing on thoughtful, sustainable scaling that maintains the integrity of our brand," she said.
The firm said it aims to deliver strong returns to investors by positioning IMIZI as a leading premium spirits brand and showcasing African spirits as the next global phenomenon.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
IMIZI, which derives its name from the Kinyarwanda word which means "roots," is made from Rwandan cane juice and infused with indigenous African botanicals.
Despite being a newcomer, having launched in November 2023, IMIZI Rum has already made its mark by earning a Bronze Medal at Agile's International Spirits Challenge (ISC), International Wine and Spirit Competition (IWSC), and Global Rum Masters.
