Nigerian food-tech startup Aisiki secures funding via a corporate round to scale its core food distribution platform and expand across Nigerian and African cities.
Aisiki has been in Beta mode since May 2021 and only Launched in Dec 2021 after receiving a Grant from USAID as one of the winners of its $4million Covid-19 Nigeria Challenge in October 2021.
Aisiki is building a tech-enabled food marketplace for businesses in Africa. This has been validated by massive MoM growth in the last 3 Months with optimizing the already fragmented food distribution supply chain to deliver fresh and quality food items straight from farmers/food brands to all sizes and types of retailers (Shops, Restaurants & Hotels) at very competitive prices with same/next day delivery starting from Benin City, Nigeria.
“At Aisiki, our driving force is to transform food distribution on the continent; we have been amazed by how big the opportunity is and the level of impact we have generated on the lives of the customers we serve with the potential to do much more. We embarked on this journey bearing in our minds that we are about solving one of the most significant problems faced by Africa- a highly fragmented food supply chain which as a result has driven up food prices in multiples and driven overall inflation. By combining our expertise and networks, we are beginning to make an impact in the food sector. The journey is still far but we have started.” said Babatunde Lawal, founder and chief executive officer (CEO) of Aisiki.
Aisiki is building a world-class food ecosystem that uses technology to transform how African food businesses buy and sell food, by creating an end-to-end integrated supply chain platform that connects farmers and food brands to retailers across cities from sourcing and logistics to offering Buy-Now-Pay-Later(BNPL) and other strategic support to enable business growth.
It has now also added new categories to its range of products, starting out supplying only fresh produce but now supplying both fresh and packaged food items such as rice, cooking oil, tomatoes, onions among several others, and also offering credit to its customers. This is a corporate round and the amount remains undisclosed but would help the company build new products and scale its operations into other African cities over the next 24 months.
“We are extremely pleased with the progress we’ve made in such a short amount of time in a sector that is heavily informal and highly unregulated. With this funding and the support of our strategic investors, the entire team at Aisiki is dedicated to delivering exceptional service for customers and partners, as well as deploying our technology and infrastructure across Africa.” Babatunde added.
Aisiki is building the hard stuff that would deliver food security for all Africans and trigger economic growth for the continent. For us at Aisiki, it's still Day 1.