Chowdeck secures $2.5mn seed fund to drive on-demand food delivery

Chowdeck, a leading on-demand food delivery service, has successfully secured $2.5 million in seed funding to enhance its operations, support expansion into more cities across the country, and add value to its customers, vendors, and riders. Femi Aluko, the CEO and co-founder of Chowdeck, recently joined CNBC Africa to discuss the details of the investment and the company's future plans. During the interview, Aluko revealed that Chowdeck raised the $2.5 million seed fund from various investors, including Y-Company, Goodwater Capital, Liberian Ventures, Hook Club, and several others. The primary objective of this funding round is to improve operational excellence in the cities where Chowdeck currently operates, with a strong focus on Lagos, Nigeria. Aluko emphasized that Chowdeck is still in the early stages of its growth, as it is currently active in only 8 cities. The company aims to deepen its penetration in these cities to enhance customer satisfaction and ensure a seamless food delivery experience. With the increasing smartphone usage and internet penetration in Nigeria, Chowdeck sees significant potential for further growth and innovation in the food delivery sector. As the conversation shifted to market expansion, Aluko mentioned that while Chowdeck is focused on strengthening its presence in the Nigerian market, the company is also exploring opportunities to expand to other parts of Africa in the coming years. While there are discussions about the integration of Anglophone and Francophone Africa, Chowdeck's immediate priority remains enhancing its services and offerings within Nigeria. In closing, Aluko expressed his gratitude for the opportunity to discuss Chowdeck's growth strategy and market outlook. With the newly secured seed funding, Chowdeck is well-positioned to drive innovation, improve operational efficiency, and deliver exceptional services to its clients and partners. The company's commitment to customer satisfaction and industry excellence sets a solid foundation for its future expansion and success.