Aisiki Has Set Out To Transform Food Distribution In African
Aisiki has set out to transform food distribution in African
As part of a corporate round of funding, Aisiki, a Nigerian food-tech startup, has raised funds to expand its core food distribution platform across Nigeria and into the wider African market.
Following a grant from the United States Agency for International Development in October 2021 as one of the winners of its $4 million Covid-19 Nigeria Challenge, Aisiki has been in beta mode since May 2021 and was officially launched in December 2021.
It is a technologically-enabled food marketplace for African entrepreneurs. As a result of optimizing the already fragmented food distribution supply chain to deliver fresh and high-quality food directly from farmers and food brands to retailers of all sizes and types (shops, restaurants, and hotels) at very competitive prices with same-day or next-day delivery beginning in Benin City, Nigeria, this has been validated by massive MoM growth over the last three months.
Aisiki's mission is to transform food distribution across Africa; we've been overwhelmed by the scope of the opportunity and the extent to which we've been able to improve the quality of life of those we serve, with the prospect of accomplishing far more." As we began this journey, we had a clear goal in mind: to address one of Africa's most serious problems: a highly fragmented food supply chain that has resulted in multiple-fold increases in food prices and overall inflation. By combining our knowledge and resources, we are beginning to make a difference in the food industry. Our work is just getting started, and there is a long way to go." As Babatunde Lawal, the founder and CEO of Aisiki, put it:
Using technology to transform the way African food businesses buy and sell food, Aisiki is building a world-class food ecosystem that will benefit all of humanity. We are accomplishing this through the development of an end-to-end integrated supply chain platform that connects farmers and food brands to retailers across cities, from sourcing and logistics to offering Buy-Now-Pay-Later (BNPL) and other strategic support to enable business growth, among other methods.
The company has also broadened its product offerings, initially supplying only fresh produce but now providing both fresh and packaged foods such as rice, cooking oil, tomatoes, and onions, among other things, in addition to providing customers with credit. The funds will be used to develop new products and expand the company's operations into additional African cities over the next 24 months, as part of a corporate round for which the amount is not disclosed.
In a highly informal and unregulated sector, "we are overjoyed with the progress we've made in such a short period of time. Aisiki's entire team is dedicated to providing exceptional service to customers and partners, as well as expanding our technology and infrastructure throughout Africa with the help of this funding and the support of our strategic investors." As well as being a contributor, Babatunde
