2 weeks Ago By News Ghana
News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/vendease-pioneers-tech-driven-transformation-in-africas-food-supply-ecosystem/When Vendease emerged in early 2020, its mission was clear: to streamline Nigeria’s disjointed food sector through technology.
Initially operating as a marketplace connecting restaurants and suppliers, the startup soon recognized its role as a mere intermediary fell short of addressing systemic inefficiencies. By mid-2020, it pivoted decisively, shifting to bulk procurement, storage, and managed logistics a strategy that catalyzed its ascent and attracted a $3.2 million seed investment by October 2021.
This operational overhaul laid the groundwork for a landmark $30 million Series A round in 2022, comprising $20 million in equity led by TLcom Capital and Partech Africa, alongside $10 million in debt from local financiers. The funding underscored investor confidence in Vendease’s vision to reengineer Africa’s food supply chain, which remains plagued by fragmentation, waste, and infrastructure gaps.Today, active in eight Nigerian and Ghanaian cities, Vendease operates as a comprehensive operating system for food businesses, offering procurement, warehousing, financing, and delivery solutions.
Its platform claims to have transported 400,000 metric tonnes of food, slashed delivery times by 50%, and saved clients $2 million in procurement costs over the past year. By integrating inventory tracking and next-day delivery guarantees, the startup helps restaurants avoid overstocking a critical innovation in a sector where businesses lose an estimated $100 billion annually to inefficiencies.Central to its model is a data-driven Buy Now, Pay Later (BNPL) service, which has facilitated access to over $12 million in inventory credit through partnerships with banks rather than direct lending.
While the company has yet to monetize this feature, it highlights Vendease’s broader strategy: leveraging technology to address both supply chain and financial barriers.Investors cite the startup’s potential to unify Africa’s food logistics as a key motivator. “Vendease can unlock significant value in Africa’s fragmented food supply chain,” noted Andreata Muforo of TLcom Capital and Cyril Collon of Partech Africa in a joint statement.
This optimism persists despite macroeconomic headwinds, including currency volatility and global food shortages, which Vendease mitigates through price stabilization and inventory reliability.As competitors like OneOrder and TopUp Mama enter the space, CEO Tunde Kara remains focused on scaling impact. “What excites us is extending our technology across Africa and beyond,” he told *TechCrunch*, emphasizing efficiency and sustainability as core to the company’s evolution from startup to industry cornerstone.
The broader context of Africa’s food challenges where nearly 20% of the population faces hunger amid post-harvest losses and supply chain gaps frames Vendease’s ambition. ‘By digitizing procurement and logistics, the startup not only addresses immediate pain points for businesses but also contributes to a more resilient continental food ecosystem. Its trajectory reflects a growing recognition that technology, when deeply embedded in physical infrastructure, can redefine access and affordability in critical sectors.
News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/vendease-pioneers-tech-driven-transformation-in-africas-food-supply-ecosystem/.
