Jise raises $100,000 in pre-seed funding before launching food delivery in Lagos

Jise, dubbed "Nigeria's DoorDash," raises $100,000 in pre-seed funding before launching food delivery in Lagos

Following the Covid-19 outbreak in 2020, the demand for food and grocery delivery services increased exponentially all over the world, particularly in the United States. It is expected that the global online food delivery service market will expand by 10.3 percent annually from $115.07 billion in 2020 to $126.91 billion in 2021, representing a compound annual growth rate (CAGR) of 10.3 percent.

Customers in Nigeria, where a scarcity of logistics services dedicated solely to food delivery has prompted them to demand better food delivery services, have expressed particular dissatisfaction with the situation.

In order to accomplish this, Jise, a Nigerian food delivery startup, has launched a food-only delivery platform in Lagos, Nigeria. In order to achieve this, its primary goal is to provide fast and affordable food delivery services throughout the country, starting with Lagos.

This comes on the heels of a $100,000 pre-seed investment from Nigerian investors Backroom Capital and Irish investors Winston Capital. As well as venture capitalists, angel investors, including Treepz Co-Founder Jonny Enagwolor, contributed to the funding round.

The funding was announced by Winston Capital's Leonard Lynch, who expressed excitement to be a part of the startup's development, noting that Jise represents an opportunity to invest in a great team.

The investment in Jise represents an excellent opportunity for Winston Capital, which is constantly on the lookout for the best teams to invest in. It is our pleasure to continue to support the Nigerian start-up ecosystem with our second investment on the continent, which is our second investment on the continent. "We are honored to be a part of their journey," Leonard Lynch expressed his gratitude.

Jise, which is derived from the Yoruba word for errand, is led by four co-founders who are all entrepreneurs. In addition to Marvelous Gbenro serving as CEO, Tokurah Majid serving as Vice President of Growth and Operations, Ibukun Olasupo serving as Vice President of Customer Engagement, and Jeremy Osazuwa Agbonze serving as Vice President of Technology, the company also has a diverse group of executives.

By an investor, the service has been dubbed the "Doordash of Nigeria." It was established to address issues such as unsatisfactory or late food deliveries, which result in customer disappointment. Deliveroo believes that the threat to the brand integrity of independent restaurants is being caused by delivery companies that are not vertically integrated into the food distribution industry.

Therefore, Jise is working on the development of a shared logistics platform that will allow restaurants to efficiently deliver their meals to their customers in the shortest amount of time. Specifically, it accomplishes this by leveraging clusters of independent delivery personnel, while also enabling restaurant growth through the use of a networked marketplace.

To put it another way: the startup aspires to revolutionize the food delivery industry by offering consumers an efficient food ordering and distribution platform that manages delivery and takeout from the best local restaurants at very affordable prices.

The food delivery service estimates that it will deliver meals within 25 minutes of receiving an order from a customer. With more than 40 restaurant menus already on board in Lagos' Lekki axis, the company claims to have onboarded a significant number of additional restaurants in the future.

Additionally, in preparation for the holiday season, it intends to gradually expand its community-based model throughout the Lagos metropolitan area.

The Jise food mobile application is now available for download from the Apple App Store and the Google Play Store, respectively. Currently, the app can deliver food to any location in Lagos, regardless of the time of day.