No Result
View All Result
  • Login
Wednesday, February 4, 2026
FeeOnlyNews.com
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading
No Result
View All Result
FeeOnlyNews.com
No Result
View All Result
Home Startups

Nigerian profitable food delivery Chowdeck lands $9M from Novastar, Y Combinator

by FeeOnlyNews.com
6 months ago
in Startups
Reading Time: 4 mins read
A A
0
Nigerian profitable food delivery Chowdeck lands M from Novastar, Y Combinator
Share on FacebookShare on TwitterShare on LInkedIn


Chowdeck, a Lagos-based food delivery startup that has stayed profitable in a notoriously tough and low-margin market, has raised $9 million in Series A funding to launch a quick commerce strategy and expand into more cities in Nigeria and Ghana.

The equity round was led by Novastar Ventures, with participation from Y Combinator, AAIC Investment, Rebel Fund, GFR Fund, Kaleo, HoaQ, and others. The investors are betting on the team’s ability to pair local market expertise with execution and turn a notoriously difficult sector into a profitable super app for food, groceries and essentials.

“We’re thrilled about this round as it brings us closer to our vision of becoming Africa’s number one super app,” CEO and co-founder Femi Aluko said. “This funding will supercharge our growth plans, enabling us to expand into more cities, reduce delivery times, scale our grocery footprint, and attract the best talent to drive innovation and customer satisfaction.”

Founded in October 2021 by Aluko, Olumide Ojo, and Lanre Yusuf, Chowdeck now operates in 11 cities across Nigeria and Ghana, serving 1.5 million customers with a network of more than 20,000 riders. Its logistics system averages 30 minutes per order, and in dense areas, more than half of deliveries arrive by bicycle.

While prominent players have exited or scaled back their African operations, Chowdeck has leaned into the complexity of local markets—delivering local meals, an operationally harder challenge—to build trust with customers.

In 2024, the value of meals delivered through Chowdeck grew more than sixfold from the previous year. This year, the company says it passed its 2024 total before July.

The new funding will help Chowdeck roll out quick commerce, ultra-fast delivery backed by a network of dark stores and hyperlocal logistics hubs. The company plans to open 40 dark stores by the end of this year and 500 by the end of 2026, with two to three new stores launching each week. Chowdeck raised a $2.5 million seed round last year.

Techcrunch event

San Francisco
|
October 27-29, 2025

Image Credits:Chowdeck

Food delivery is a crowded business globally, but when done well, it has led to some other big companies like DoorDash.

Quick commerce, on the other hand, has been a capital-intensive gamble in most markets. In Europe, Gorillas and Getir burned through hundreds of millions of dollars before retreating or consolidating. In India, platforms like Blinkit, Zepto and Swiggy have had varying levels of success with the model when it comes to profitability.

Chowdeck has been profitable since before this raise and Aluko says the company doesn’t enter cities or verticals without planning to break even within a couple of weeks.

For instance, the food delivery platform entered neighbouring Ghana this May. Within three months, it was handling 1,000 daily orders without paid advertising, which, according to Aluko, came from pent-up demand for a service that delivers local favorites alongside international cuisines. The company aims to quintuple that volume to 5,000 daily orders by the end of September 2025.

Aluko says Chowdeck plans to apply the same playbook to dark stores, which will complement its restaurant and grocery delivery operations.

Another vertical complementing these operations will be software. This June, the YC-backed startup acquired Mira, a point-of-sale provider for African food and hospitality businesses. Mira’s tools manage inventory and orders in real time; now, it will help Chowdeck optimize its operations, positioning the company as a vertical SaaS-plus-logistics provider for restaurants.

Chowdeck’s raise is a win for local players in the sector, after Jumia’s exit left market share to foreign brands such as Glovo, Bolt Food, and Yango. Yet, some of these companies have also withdrawn from certain markets, including Nigeria and Ghana, which Chowdeck is now targeting aggressively.

Super apps such as Gozem, YC-backed Yassir, and MNT-Halan are other local companies offering food delivery services in other African markets.

“The market is still very early,” Aluko said. “Customer behavior is shifting online for the first time. A whole generation is growing up ordering food without ever having walked into some of the restaurants or markets on our platform.”

For lead investor Novastar Ventures, the bet is on execution and local insight. “Chowdeck is building the future of logistics for African cities,” said partner Brian Waswani Odhiambo. “With deep local insight, a sustainability-first approach, and impressive execution, it is redefining last-mile delivery on the continent.”



Source link

Tags: ChowdeckCombinatordeliveryfoodlandsNigerianNovastarProfitable
ShareTweetShare
Previous Post

German edtech startup paddy secures €1M

Next Post

“ETH Can Flip BTC In A Year”, Claims Co-Founder Joseph Lubin As Ethereum Overtakes Mastercard And Netflix

Related Posts

People who hate the sound of chewing have this heightened sensitivity that affects everything

People who hate the sound of chewing have this heightened sensitivity that affects everything

by FeeOnlyNews.com
February 4, 2026
0

Add Silicon Canals to your Google News feed. The scrape of a fork against a plate. The crunch of someone...

The psychological impact of talking to strangers is real: Studies show it makes us happier and smarter

The psychological impact of talking to strangers is real: Studies show it makes us happier and smarter

by FeeOnlyNews.com
February 3, 2026
0

When researchers asked commuters to strike up conversations with strangers on trains and buses, they discovered something that challenges our...

Bootstrapping Isn’t Noble – It’s Just Another Trap

Bootstrapping Isn’t Noble – It’s Just Another Trap

by FeeOnlyNews.com
February 3, 2026
0

There’s a reason founders romanticize suffering. You get to say you “did it all yourself.” Your startup was forged in...

Duetti Raises 0M to Close the 0B Gap in Independent Music Financing – AlleyWatch

Duetti Raises $200M to Close the $160B Gap in Independent Music Financing – AlleyWatch

by FeeOnlyNews.com
February 3, 2026
0

As independent music reaches $160B in market value and commands nearly half of the global music industry, a critical disconnect...

How LLMs Can Quietly Classify and Organize Your Business Data

How LLMs Can Quietly Classify and Organize Your Business Data

by FeeOnlyNews.com
February 2, 2026
0

Invisible Assistants in the Background Most of the attention in the world of AI goes to visible features: chatbots that...

The personality trait that predicts loneliness better than being single or living alone

The personality trait that predicts loneliness better than being single or living alone

by FeeOnlyNews.com
February 2, 2026
0

You’ve probably heard it a thousand times: loneliness is an epidemic. But here’s what might surprise you – researchers have...

Next Post
“ETH Can Flip BTC In A Year”, Claims Co-Founder Joseph Lubin As Ethereum Overtakes Mastercard And Netflix

"ETH Can Flip BTC In A Year", Claims Co-Founder Joseph Lubin As Ethereum Overtakes Mastercard And Netflix

Wizz Air’s resumption of Israel flights helps cut fares

Wizz Air's resumption of Israel flights helps cut fares

  • Trending
  • Comments
  • Latest
Self-driving startup Waabi raises up to  billion, partners with Uber to deploy 25,000 robotaxis

Self-driving startup Waabi raises up to $1 billion, partners with Uber to deploy 25,000 robotaxis

January 28, 2026
Student Beans made him a millionaire, a heart condition made this millennial founder rethink life

Student Beans made him a millionaire, a heart condition made this millennial founder rethink life

December 11, 2025
Sellers Are Accepting Even Less

Sellers Are Accepting Even Less

January 23, 2026
Will CRCL Stock Recover by the End of Jan 2026?

Will CRCL Stock Recover by the End of Jan 2026?

January 10, 2026
Episode 242. “Our couples therapist couldn’t fix this. Please help.”

Episode 242. “Our couples therapist couldn’t fix this. Please help.”

January 6, 2026
US SEC Issues Key Crypto Custody Guidelines For Broker-Dealers

US SEC Issues Key Crypto Custody Guidelines For Broker-Dealers

December 19, 2025
Binance Shows Stable Reserves Amid ‘FTX 2.0’ Claims: Analysts

Binance Shows Stable Reserves Amid ‘FTX 2.0’ Claims: Analysts

0
Men’s Minimalist Leather Bifold Wallet only .99!

Men’s Minimalist Leather Bifold Wallet only $4.99!

0
Adaption Labs secures  million seed round to build AI models that can change on the fly

Adaption Labs secures $50 million seed round to build AI models that can change on the fly

0
7 Surprising Ways Inflation Is Still Rising Even as Prices Slow This Year

7 Surprising Ways Inflation Is Still Rising Even as Prices Slow This Year

0
Average salary reaches NIS 14,677

Average salary reaches NIS 14,677

0
What I Learned from My Worst Real Estate Deal (Ever)

What I Learned from My Worst Real Estate Deal (Ever)

0
Binance Shows Stable Reserves Amid ‘FTX 2.0’ Claims: Analysts

Binance Shows Stable Reserves Amid ‘FTX 2.0’ Claims: Analysts

February 4, 2026
Men’s Minimalist Leather Bifold Wallet only .99!

Men’s Minimalist Leather Bifold Wallet only $4.99!

February 4, 2026
Adaption Labs secures  million seed round to build AI models that can change on the fly

Adaption Labs secures $50 million seed round to build AI models that can change on the fly

February 4, 2026
People who hate the sound of chewing have this heightened sensitivity that affects everything

People who hate the sound of chewing have this heightened sensitivity that affects everything

February 4, 2026
Supermicro, Eli Lilly stocks pop on upbeat forecasts, AMD and Uber slide

Supermicro, Eli Lilly stocks pop on upbeat forecasts, AMD and Uber slide

February 4, 2026
Average salary reaches NIS 14,677

Average salary reaches NIS 14,677

February 4, 2026
FeeOnlyNews.com

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Economy
  • Financial Planning
  • Investing
  • Market Analysis
  • Markets
  • Money
  • Personal Finance
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Binance Shows Stable Reserves Amid ‘FTX 2.0’ Claims: Analysts
  • Men’s Minimalist Leather Bifold Wallet only $4.99!
  • Adaption Labs secures $50 million seed round to build AI models that can change on the fly
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclaimers
  • About Us
  • Contact Us

Copyright © 2022-2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Sign In with Facebook
Sign In with Google
Sign In with Linked In
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading

Copyright © 2022-2024 All Rights Reserved
See articles for original source and related links to external sites.