Nigerian profitable food delivery Chowdeck lands $9M from Novastar, Y Combinator
Chowdeck, a profitable Lagos-based food delivery startup, secured $9 million in Series A funding to implement a quick commerce strategy and expand into additional Nigerian and Ghanaian cities.
MAIN POINTS
- Chowdeck has remained profitable in a challenging, low-margin market.
- The startup raised $9 million in Series A funding.
- Novastar Ventures led the equity round, with Y Combinator and AAIC Investment participating.
- Funds will be used to expand into more cities in Nigeria and Ghana.
TAKEAWAYS
- Chowdeck is focusing on a quick commerce strategy to enhance its service.
- The funding will support geographical expansion in West Africa.
- Strategic investors like Novastar Ventures and Y Combinator back Chowdeck's growth.
- The startup's profitability in a tough market highlights its operational efficiency.