Chowdeck, a Nigerian on-demand delivery platform, has raised $9 million in a Series A funding round to accelerate its expansion across Nigeria and Ghana. The round was led by Novastar Ventures, with participation from Y Combinator, AAIC Investment, Rebel Fund, GFR Fund, Kaleo, and HoaQ.
Founded in October 2021 by Babafemi Aluko, Olumide Ojo, and Lanre Yusuf, Chowdeck has rapidly grown to serve 1.5 million customers across 11 cities in Nigeria and Ghana. The platform operates with a network of over 20,000 riders, achieving an average delivery time of 30 minutes.
The new funding will enable Chowdeck to implement a quick-commerce strategy, focusing on ultra-fast delivery through a network of “dark stores” and hyperlocal logistics hubs. The company plans to open 40 such stores by the end of 2025 and scale up to 500 by 2026, adding two to three new locations each week.
Chowdeck’s approach emphasizes profitability and sustainability. The company has maintained profitability even before this funding round and aims to break even in new markets within weeks of entry. This disciplined approach has attracted investor confidence, as evidenced by the successful Series A round.
With the new capital, Chowdeck aims to enhance its logistics infrastructure, expand its service offerings to include groceries and pharmaceuticals, and continue its growth trajectory in the West African market. The company’s vision is to become Africa’s leading super app for food, groceries, and essential services.
Read more on Tech Gist Africa:
PaidHR, a Nigerian HR‑tech startup Secures $1.8 Million Seed funding
Salpha Energy, a Nigerian Clean Energy Startup Secures $1.3 Million Investment
CutStruct, a Nigerian construction-tech startup, has raised US $1.5 million in a seed funding round