Orda, Nigerian Restaurant Management Platform Raise $1.1 Million
Orda, a cloud-based restaurant software, has announced raising a pre-seed fund of $1.1 million.
Leading the pre-seed fund is pan-African investor LoftyInc Capital.
Also participating are institutional investors, including Techstars Boulder, Magic Fund, Hustle Fund, Norrsken Foundation, Microtraction, DFS Labs, and others.
And angel investors like Buycoins’ Ire Aderinokun, Jesse Ovia and Ademola Adesina.
The fund is for the software company to scale its software business and expand across Africa.
It plans to build financial products like lending and help in processing payments.
Although, some big restaurants have started adopting tech facilities to set their management system.
The smaller restaurants use traditional methods and facilities like pen and paper for their management.
However, Orda sets to use its software to help restaurants manage their businesses irrespective of their size.
“These are the restaurants that have been using paper and pen and then that spend three to four hours on reconciliation.
They don’t have access to software that does analytics and inventory management right off the gate.
So, we decided to build a cloud-based restaurant software tailor-made for Africa’s massive chefs and restaurant industry.”
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Restaurants that would adopt the new tech would also have access to tools that allows them to receive and process online orders.
Although the existing restaurant-focused tech business like Jumia Food and Glovo mainly receive and process orders.
They help restaurants take online orders and make delivery.
But Orda would manage these processes online while integrating local payments, logistics, inventory management and business analytics features.
Also, the company says that it would use Toast as its business model.
“We want to become like the Toast of Africa,” says the chief executive.
Toast is a US-based restaurant tech platform.
The company was recorded to have massive growth after its launch.
According to the CTO, “Orda was built from a near 18 months of a collaborative customer feedback loop.
We listened to everything, from how African restaurants reconcile inventory, how customers pay to how they handle logistics and more.
We can confidently say that no one has done as much work as we have to build an end-to-end solution for our food business owners.”.
Also, the leading investor, LoftyInc Capital, adds a comment through its managing partner Idris Ayo Bello.
“We loved investing in Orda because it is building the core digital infrastructure for restaurants across Africa.
The team has done the hard work of figuring out the core problems that African restaurant owners are facing and is building a solution that can revolutionise the food business across the continent.”
Orda, formerly known as StarKitchens, is a new food tech company built for African chefs and food business owners.
It is one of the African startups joining the trail of players in the food-tech industry.
The platform is for small, medium and big restaurants, helping their management.
It uses the electronic point of sale (ePOS) and a management system to manage the restaurant’s operation.
Launched in April 2021, Orda was founded by Guy Futi (CEO), Adinlewa “Fikayo” Akinwale (CTO), Mark Edomwande, Kunle Ogungbamila, and Namir El-Khouri.
And the cloud-based software has already launched in two markets, Nigeria and Kenya.
It boasts of over 10,000 transactions weekly and gains from its client; they pay from about $5(N2,500) to $50 (N30,000) monthly to access its software.
And it is looking forward to expanding to more countries, especially in Africa.
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