nigerian Food Tech Startup, Orda, said it has raised an initial investment of $3.4 million to help it digitize many African restaurants through its cloud-based operating system.
Nairametrics recalls that the company had raised $1.1 million in pre-seed funding earlier in the year. The latest funding brought his total increase to $4.5 million.
Order plan: Orda said he plans to improve his services to help more African restaurants maximize their business operations and expand distribution. Among the features that Orda wants to improve are the loan, credit and payment options. It will also help clients maximize the value of their businesses.
The company also plans to expand its restaurant network and continue its pan-African expansion into South Africa and, much later, the Ivory Coast.
The investors: New York-based Fintech Collective and emerging markets investor Quona Capital jointly led the seed round. Existing investors such as LoftyInc Capital, Enza Capital and the Norrsken Foundation, as well as new venture capital firms such as Outside VC and Far Out Ventures, are among the additional investors.
Speaking about why his company is backing the food tech company, Kofoworola Agbaje, Senior Investment Associate at Quona Capital, said:
- “When a restaurant owner goes from pencil and paper to a fully automated digital platform, it is incredibly empowering.”
- Agbaje stressed that he believes that small and medium-sized restaurants, as well as the livelihoods of those who run them, could be significantly affected by a solution like Orda.
- Orda’s solution enables restaurants to easily manage their dine-in orders and sales from other channels. This works with little to no internet.