Lagos-based food delivery startup Chowdeck secured $9 million in Series A funding. Novastar Ventures led the round. Y Combinator, AAIC Investment, Rebel Fund, GFR Fund, Kaleo, and HoaQ also participated in this Chowdeck funding round.
The company plans to launch a quick commerce strategy. Furthermore, it will expand into more cities across Nigeria and Ghana. Chowdeck previously raised a $2.5 million seed round.
Strategic Expansion and Quick Commerce Rollout
Chowdeck, founded in October 2021, operates in 11 cities. It serves 1.5 million customers with over 20,000 riders. The logistics system averages 30 minutes per order. In dense areas, over half of deliveries arrive by bicycle.
The new funding supports the rollout of quick commerce. This involves ultra-fast delivery backed by a network of dark stores. Chowdeck plans to open 40 dark stores by year-end. It aims for 500 by the end of 2026, launching two to three new stores weekly.
Chowdeck maintains profitability across its operations. The company enters new cities or verticals with a plan to break even within weeks. For instance, it entered Ghana in May. Within three months, it handled 1,000 daily orders without paid advertising. The company targets 5,000 daily orders by September 2025.
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Additionally, Chowdeck acquired Mira in June. Mira provides point-of-sale solutions for African food and hospitality businesses. This acquisition positions Chowdeck as a vertical SaaS-plus-logistics provider for restaurants, moving towards a super app model.
The market sees various players like Glovo and Bolt Food. Local companies such as Yassir also offer food delivery services. Chowdeck's expansion targets market share in a shifting landscape.
