Friday, January 27, 2023

Nigerian food-tech startup Orda raises $3.4 million as it moves to digitise African restaurants

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Cloud-based restaurant operating system, Orda has received a $3.4 million seed investment to help address the problems that plague small, independent restaurants such as limited access to technology, which in turn makes reconciliation and inventory management difficult.

The Nigerian food tech platform offers services that give customers access to various software features, including order management, an omnichannel, integrations with food aggregators, delivery platforms, and set-up staff.  

Recall that in January, Orda raised $1.1 million in pre-seed funding, bringing its total funding raised this year to $4.5 million. 

New York-based FinTech Collective and emerging market investor Quona Capital jointly led the round.

Existing investors like LoftyInc Capital, Enza Capital, and the Norrsken Foundation, as well as brand-new venture capital firms like Outside VC and Far Out Ventures, are among the additional investors.

Speaking on why her firm is backing the food tech company, Kofoworola Agbaje, senior investment associate at Quona Capital, had this to say:

“When a restaurant owner moves from pen and paper to a fully automated digital platform, it’s incredibly empowering.” 

Agbaje emphasised that she believes small and medium-sized restaurants, as well as the livelihoods of those who run them, could be significantly impacted by a solution like Orda.

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