Orda raises fund to expand beyond Nigeria and Kenya
By Jeph Ajobaju, Chief Copy Editor
Foodtech startup Orda has raised $1 million to scale its restaurant management business and expand operations beyond its current locations in Nigeria and Kenya.
Orda is based in Nigeria. Restaurants pay between $5 (N2,500) and $50 (N30,000) monthly to access its software.
Investors involved in the funding round include Microtraction, DFS Labs, Oxford Seed Fund, Enza Capital, Agrolay Advisors, Techstars Boulder, Magic Fund, Hustle Fund, Norrsken Foundation.
They also include angel investors Ire Aderinokun, Jesse Ovia, and Ademola Adesina.
Orda intends to build out financial products, especially in lending, venture into processing payments for restaurants, and expand operations to South Africa before the end of 2022.
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Focus on small restaurants
Orda focuses mainly on local and small restaurants without access to analytics and inventory management software. It offers a Cloud software tailor-made for African restaurants.
It provides restaurants with access to a dashboard that allows them to accept and process orders from food delivery services such as Jumia Food, Glovo, Bolt Food, as well as in-store, website, social media channels like WhatsApp.
It also offers an ePOS solution that restaurants can operate in remote areas with little or no internet coverage, according to Nairametrics reporting.
About Orda
Orda was founded in 2020 by Guy Akinwale, Mark Edomwande, Kunle Ogungbamila, and Namir El-Khouri.
It is based in Nigeria but has operations in Kenya, and currently boasts 10,000 transactions weekly. It makes its profit from charges made to clients.
TechCrunch adds that Cloud-based point of sales for small, medium and large-sized restaurants has increased tremendously in both size and popularity.
The market – dominated by incumbents like Toast and upcoming players such as MarginEdge and Brazil’s Zak – has its value pegged at over $70 billion globally and is expected to reach $116 billion in the next four years.
As with most technologies, Africa is playing catch up in this foodtech segment.
But a few startups are paying attention to the market, positioning themselves to become top players when it matures.
One such startup is Orda, formerly known as StarKitchens, which has now secured a $1.1 million pre-seed round to scale its software across Africa.