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Agri-tech startup, Vendease secures $30m to foster food procurement
Y-Combinator backed startup, Vendease has secured $30 million funding round to expand and strengthen its operations in the food chain business.
Making a seed round of $3.2million on October, 2021, the food-tech startup goes for an equity and debt round of $20million and $10million respectively, the funding round led by Partech Africa and TLcom together with Hustle fund, Magic Fund, VentureSouq, Kairos Angels, Kube VC and GFR Fund in preparation to expand and dense its services in 8 cities across Nigeria and Ghana including, Lagos, Ibadan, Accra, Abuja and others.
According to TechCrunch, Vendease's CEO, Tunde Kara revealed plans to foster the supply, finance, storage of food in aim to facilitate the food chain system in Nigeria and other African countries.
Tunde Kara, Olumide Fayankin, Gatumi Aliyu and Wale Oyepeju, four close friends founded Vendease in January 2020 after they initially ran an adtech startup targeted to place advert on public vehicles, though didn't scale but the experience assisted the co-founders in building Vendease.
More details coming...
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