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The food-sourcing startup based in Vietnam, Kamereo, has successfully bagged $7.8 million in its most recent funding round. Founded in 2018 by Taku Tanaka, the former investment banker and COO of the popular Vietnamese restaurant chain Pizza 4Ps, Kamereo has quickly become a major force in the B2B food supply industry. The company’s innovative approach aims to streamline the food supply chain in Vietnam, directly connecting food producers with businesses such as restaurants, supermarkets, and convenience stores.
The Mission: Transforming Vietnam’s Food Supply Chain
Kamereo is looking to simplify Vietnam’s food sourcing process, which has traditionally been a fragmented and inefficient market. The platform offered by Kamereo bridges the gap between farmers and businesses using technology, doing away with the traditional middlemen and offering more reliable, efficient, and cost-effective food procurement. The approach that this company uses directly deals with the country’s issues of food supply chains so that businesses can access fresh produce and other food items in due time.
Since its establishment, Kamereo has grown significantly, achieving an annual sales growth of over 300%. The company now caters to more than 3,000 businesses, including small restaurants and large food and beverage chains. This growth signifies the increasing demand for a more streamlined, modern food sourcing process in Vietnam and beyond.
Funding Utilization
The new funding will enable Kamereo to:
- Expand Operations: The company plans to scale its presence across Vietnam, particularly in Hanoi, and aims to explore neighboring markets like Cambodia.
- Strengthen Logistics: Kamereo will invest in warehouse infrastructure and cold chain logistics to ensure product quality and timely delivery.
- Diversify Offerings: Part of the funds will support the development of consumer-focused products, including ready-to-eat vegetables and private-label items, to capture retail markets.
- Team Building: Kamereo is also set to expand its workforce to meet growing demand and enhance operational efficiency.
Market Opportunism
The food supply chain market in Vietnam is worth an estimated $100 billion, presenting a massive opportunity for disruption. Kamereo’s innovative, tech-enabled platform stands out in an industry historically dominated by small-scale distributors and inefficient manual processes. By providing an integrated system for order management, tracking, and delivery, Kamereo aims to modernize the food procurement process and become a leader in the region.
The business model of Kamereo promises to bring significant value to both farmers and businesses by providing a more transparent supply chain. With the Kamereo system, farmers are allowed to sell their produce directly to buyers at fairer prices without causing the same wastage brought about by traditional inefficiencies in the distribution processes. Businesses will get access to a wider variety of fresh produce, thereby enhancing the product offering and customer satisfaction.
Adaptation to Challenges
The company’s ability to stand out has been proved through the challenge it faces during the COVID-19 pandemic. In the initial stages, a 70% decrease in business occurred, but when restaurants began reopening and food supply became critical, Kamereo adjusted promptly. Such adjustment signifies that the company will stand by the people who rely on its services at any given time.
With the innovative approach to food sourcing and the new funding boost, Kamereo is well-positioned to lead the transformation of Vietnam’s food supply chain. The company’s focus on leveraging technology to streamline operations, improve efficiency, and offer a superior customer experience gives it a competitive edge in the rapidly growing market.
The founders of Kamereo, Taku Tanaka and his co-founder, have always focused on improving the inefficiencies in the food industry. With a proven history of scaling businesses, Tanaka’s background and leadership skills combined with his deep understanding of Vietnam’s food supply challenges have played a big role in the growth of the company.
The $7.8 million funding round, led by prominent investors like Quest Ventures and Reazon Holdings, will provide the resources Kamereo needs to continue its upward trajectory. The support from industry experts further affirms the company’s potential to reshape the food business landscape in Southeast Asia.
