Chowdeck, the YC-backed Nigerian on-demand supply platform, has raised $9 million in Collection A funding to launch a fast commerce technique and broaden into extra cities in Nigeria and Ghana. The fairness spherical was led by Novastar Ventures, with participation from Y Combinator, AAIC Funding, Insurgent Fund, GFR Fund, Kaleo, HoaQ, and others.
The increase comes two months after the startup acquired Mira, some extent of sale (POS) based in 2023 by Flutterwave alumnus Ted Oladele and Paystack’s Olaseike Ibojo. The deal added Mira’s stock administration, fee processing, and stock financing instruments to Chowdeck’s supply ecosystem.
“We’re thrilled about this spherical because it brings us nearer to our imaginative and prescient of turning into Africa’s primary tremendous app,” CEO and co-founder Femi Aluko mentioned in an announcement. “This funding will supercharge our progress plans, enabling us to broaden into extra cities, scale back supply occasions, scale our grocery footprint, and entice one of the best expertise to drive innovation and buyer satisfaction.”
Based in October 2021, Chowdeck has emerged as a formidable participant in Nigeria’s aggressive $1 billion meals supply market, which is projected to develop to $2.4 billion by 2032, in accordance with IMARC. Aluko notes that the worthwhile firm’s coverage is to enter new cities or sectors solely when it might probably break even inside weeks.
Chowdeck just lately surpassed 1,000 orders in a single day in Ghana, simply three months after launching operations in Accra, a milestone that took 11 months to achieve again dwelling.
“Chowdeck is constructing the way forward for logistics for African cities by making a platform that advantages shoppers, distributors and riders alike,” mentioned Brian Waswani Odhiambo, Associate at Novastar Ventures, mentioned. “With deep native perception, a sustainability-first strategy and spectacular execution, Chowdeck is redefining last-mile supply on the continent.”
Chowdeck’s newest funding marks a lift for native operators within the trade, following Jumia’s exit, which handed market share to international gamers like Glovo, Bolt Meals, and Yango. Nevertheless, a few of these worldwide manufacturers have additionally scaled again in sure markets — together with Nigeria and Ghana — the place Chowdeck is now pushing for speedy enlargement.
Mark your calendars! Moonshot by TechCabal is again in Lagos on October 15–16! Be a part of Africa’s prime founders, creatives & tech leaders for two days of keynotes, mixers & future-forward concepts. Early chook tickets now 20% off—don’t snooze! moonshot.techcabal.com
Elevate your perspective with NextTech Information, the place innovation meets perception.
Uncover the most recent breakthroughs, get unique updates, and join with a worldwide community of future-focused thinkers.
Unlock tomorrow’s developments as we speak: learn extra, subscribe to our publication, and turn into a part of the NextTech neighborhood at NextTech-news.com
