Easyshop Easycook, a Nigeria-based online fresh food processor and grocer targeting working professionals and SMEs, has announced its seed financing led by the EchoVC Pan-Africa Fund.
Founded by Saudat Salami in 2006, Easyshop Easycook has been experiencing significant growth in demand and revenue over the years. The fund, estimated between $500,000 and $1 million, will further enable the company to optimise its online platform and existing farm-to-last-mile supply chain.
Easyshop Easycook has become a leading high-impact initiative in food safety standards. According to data from local industry experts, more than 200,000 persons die annually of food poisoning in Nigeria.
These deaths are caused by foods contaminated through improper processing, preservation and service. But by improving various elements of the supply chain, Easyshop Easycook aims to drive food safety solutions, which should also support Nigeria’s food export initiatives.
The company offers a convenient grocery shopping experience by providing a multi-platform technology solution to suit both customers and partners, delivering fresh food sourced from farms, non-perishables, office supplies and household items to homes, offices, schools, hospitals, hotels, restaurants across Lagos.
“Our vision is to optimise the fresh food supply chain by empowering the various participants and delivering repeatable value.
“Despite significant demand on the customer end, we realized that friction was causing massive amounts of waste and fraud in our food supply and it is incredibly important to us that we offer a streamlined pipeline to local farming communities while providing them the opportunity to generate greater income by optimizing and increasing the supply of quality food ingredients to business and retail customers,” said Saudat Salami, founder and CEO.
EchoVC’s Olaide Olusoji-Oke is high-spirited about the investment.
“We are incredibly excited to back Saudat and her team. We have been tracking her progress over the last few years and have been consistently impressed by her ability to build trust across the entire supply chain.
Her understanding of the business is unrivalled (she’s been doing this for over a decade) and her unique insights into behaviours in the offline market exhibited by farmers, traders and consumers are invaluable. We believe she represents the type of elite entrepreneur we love to support.”
“We are thrilled by the broad impact of Easyshop Easycook on families, businesses, farmers and food safety standards across Nigeria and very pleased to welcome Saudat and the Easyshop Easycook team to the EchoVC portfolio,” added EchoVC’s Fisayo Durojaye.
Noteworthy is that the investment will see EchoVC’s Olaide Olusoji-Oke and Fisayo Durojaye join the Easyshop Easycook’s Board of Directors.
Nigerian startups raised $377m in 2019, more than twice what they did in 2018. Find out more when you download the full report.