Kamereo, a food technology startup based in Ho Chi Minh City, has raised $4.6 million in a Series A funding round co-led by Thai conglomerate CPF Group, Quest Ventures, and Genesia Ventures.
According to this startup, the money raised will be used to rent, build a new warehouse management system, upgrade the user interface and expand the branch to Hanoi next year.
During his time as the chief operating officer (COO) of a pizza chain in Vietnam, Taku Tanaka, founder of Kamereo, found it difficult for restaurants to connect with farmers.
Many small F&B businesses cannot buy in bulk, so they have to rely on neighboring markets or multiple suppliers that sell only one type. This means farmers are disconnected from the end customers who use their produce, making it difficult for them to predict selling prices or plan crops. To solve this problem, Tanaka founded Kamereo, a B2B platform with its own warehouse and door-to-door delivery network.
Kamereo serves more than 400 active customers, ranging in size from family-owned restaurants to chain restaurants with more than 20 locations. Despite movement restrictions and temporary shutdown of business operations due to the impact of the Covid-19 pandemic, Kamereo has grown 15% per month for the past 12 months. The company currently has about 100 employees.
|Kamereo – a B2B operating platform founded by former COO Pizza 4P’s. Photo: Kamereo|
F&B businesses use the platform to order from many farmers. Kamereo handles supplier negotiations, order management, and distribution execution. The company operates its own warehouses and last-mile delivery network because it is cheaper than working with third-party vendors.
Most of the deliveries on the last leg of Kamereo are done by motorbike because Vietnam has many small roads and trucks cannot enter. Tanaka says the downside of this method is the amount of goods that can be delivered in one trip. Since drivers need to make multiple trips per day, Kamereo plans to expand its network of micro-depots in Ho Chi Minh City so they don’t have to travel far. The company’s technology team is also building an in-house system for inventory management, fulfillment and last-mile delivery with the goal of reducing costs.
Prior to founding Kamereo in 2018, Tanaka was the COO of Pizza 4P’s. From a location in Ho Chi Minh City when Tanaka joined the company, after 3 years, the chain of Pizza 4P’s stores has increased to 10 stores. And now this number is 30 stores across Vietnam.
Source: ndh.vn – Translated by fintel.vn