TechNode Global
Vietnam-based business to business (B2B) food sourcing platform KAMEREO announced Wednesday that it has raised $2.1 million in Pre Series B funding.
The firm said in a statement that the round is co-led by Reazon Holdings, Inc., Quest Ventures, and Thoru Yamamoto, Chief Executive Officer of FOODISON, B2B seafood supply chain company listed in Japan.
KAMEREO is a platform owns vegetable and fruit collection centers in the upstream of supply chain to directly work with its partner and contract farmers.
The platform serves over 3,000 businesses in Vietnam.
It is noted that the firm successfully overcame the nationwide lockdown in Vietnam until the 3rd quarter of 2021 and since then has been able to significantly grow its business and improve profitability.
Its customer base extends beyond restaurants to include supermarkets, convenience stores, factories, schools, hospitals, and more.
The firm continues to expand its product offerings to establish a system capable of meeting customers’ needs comprehensively.
While in developed countries such as Japan or the United States, major wholesale companies and agricultural cooperatives dominate the food supply chain, in Vietnam, such players are absent, and the market is primarily composed of many individual dealers.
With a market of $100 billion with a compound annual growth rate (CAGR) over 5 percent and no clear market leaders or winners, there is room for KAMEREO to become a major player in the industry.
James Tan, Managing Partner of Quest Ventures, said that KAMEREO is well-positioned to tap into the large wholesale and cooperatives potential in Vietnam.
“The food supply chain in Vietnam is highly inefficient due to its complex structure and the small scale of operators. KAMEREO has built an impressive infrastructure to provide customers with an affordable and reliable supply of vegetables and fruits,” he added.
