Orda, Nigerian food-tech startup, raises $1m to expand operations to South Africa | TheCable

1/18/2022 7:04:00 PM

Orda, Nigerian food-tech startup, raises $1m to expand operations to South Africa | TheCable

Orda, Nigerian food-tech startup, raises $1m to expand operations to South Africa | TheCable

Orda, a Nigerian food-tech startup, says it has raised a pre-seed round capital of $1.1 million to expand its operations to South Africa and scale up financial products. The company,

Orda, a Nigerian food-tech startup, says it has raised a pre-seed round capital of $1.1 million to expand its operations to South Africa and scale up financial products.The company, formerly known as StarKitchens, was founded in 2020 — and currently operates in Nigeria and Kenya.

The investors who participated in the round include Microtraction, DFS Labs, Oxford Seed Fund, Enza Capital, Agrolay Advisors, Techstars Boulder, Magic Fund, Hustle Fund, Norrsken Foundation, and angel investors like Ire Aderinokun, Jesse Ovia and Ademola Adesina.

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0 Comments Orda, a Nigerian food-tech startup, says it has raised a pre-seed round capital of $1.Mele Kyari , chief executive officer of the Nigerian National Petroleum Company (NNPC) Limited, says the Petroleum Industry Act (PIA) provides business opportunities that will enable the company earn more revenue for the country.Bagos, a lawmaker from Plateau state and member of the Peoples Democratic Party (PDP), said this on Sunday at a town hall meeting on the electoral bill organised by YIAGA Africa.0 Comments The consumer price index, which measures the rate of increase in the price of goods and services, increased to 15.

1 million to expand its operations to South Africa and scale up financial products. The company, formerly known as StarKitchens, was founded in 2020 — and currently operates in Nigeria and Kenya. Highlighting the significance of the PIA to the NNPC and by extension the Nigerian economy, he said the new legislation has raised shareholders’ expectations on the company. The investors who participated in the round include Microtraction, DFS Labs, Oxford Seed Fund, Enza Capital, Agrolay Advisors, Techstars Boulder, Magic Fund, Hustle Fund, Norrsken Foundation, and angel investors like Ire Aderinokun, Jesse Ovia and Ademola Adesina. Advertisement Speaking at the meeting, the lawmaker said most of the things that are being done in the national assembly involves consultants, especially at the committee level. Guy Futi, chief executive officer, Orda, said the company would use the funds to scale up financial products, especially in lending, venture into processing payments for restaurants, and expand its operations to South Africa before the end of the year. Advertisement “The PIA had put all money-making options on the table; it is up to us to take advantage of it,” Kyari was quoted as saying. Advertisement Futi added that Orda acts as a restaurant management platform, focusing on local and small restaurants that do not have access to software that does analytics and inventory management. Advertisement This implies that prices showed an uptick in December 2021 — but dropped when compared to the corresponding period of 2020.

“Orda was built from a near 18 months of a collaborative customer feedback loop. Kyari asked the employees to ensure that the company becomes a commercially viable entity and a multi-billion-dollar company that will continuously deliver value to its shareholders — the over 200 million Nigerians. “After looking at those areas critically, it’s now being sent to the consultants to do the final drafting. We listened to everything, from how African restaurants reconcile inventory, how customers pay, to how they handle logistics and more,” he said. “Orda offers restaurants that use its platform access to a dashboard that allows them to accept and process orders from food delivery services Jumia Food, Glovo, Bolt Food, and in-store, website, social media channels like WhatsApp. In addition to this, it offers an ePOS solution that restaurants can operate in remote areas with little or no internet coverage. Advertisement “I can pinpoint one of the cross reference that was corrected on the floor, but what was submitted was the same thing that was corrected. Advertisement “Orda also offers a cloud-based software tailor-made for African restaurants and can boast of a Gross Merchandise Value (GMV) which grows 15 percent week-on-week while processing up boast of 10,000 weekly transactions.08) percent,” the report reads.

” Idris Ayo Bello, managing partner, LoftyInc Capital, said the firm is glad to have co-led the round and invested in a startup that is interested in Africa’s restaurants. “We loved investing in Orda because it is building the core digital infrastructure for restaurants across Africa. Each and every one of us has five aides. The team has done the hard work of figuring out the core problems that African restaurant owners are facing and is building a solution that can revolutionise the food business across the continent,” Bello said. Advertisement .