KAMEREO Secures $7.8M Series B To Boost Growth In Vietnam's B2B Food E-Commerce

KAMEREO INTERNATIONAL PTE. LTD., a prominent player in Vietnam's B2B food supply e-commerce sector, has successfully raised $7.8 million in its Series B funding round, bringing its total funding to over $15 million. This latest investment comes from notable investors, including Sumitomo Corporation, Inspire Co., Ltd., SMBC Venture Capital Co., Ltd. , Mitsubishi UFJ Capital Co., Ltd., REAZON HOLDINGS, INC, and other individual investors.

The company is now poised for significant nationwide expansion, starting with Hanoi, and is diversifying into related sectors such as marketplace operations and direct imports.

The newly acquired funds will be directed toward expanding operations across multiple cities in Vietnam. This includes enhancing product offerings, diversifying activities, and introducing new services like a marketplace model to better serve customers.

Growth and Market Position

Since overcoming the nationwide lockdown in 2021, KAMEREO has experienced remarkable growth and improved profitability. Its customer base now extends beyond restaurants to include supermarkets, convenience stores, factories, schools, and hospitals. This broad reach positions KAMEREO to meet diverse customer needs effectively.

In a market dominated by numerous individual dealers and lacking major wholesale players, KAMEREO sees substantial opportunities. The Vietnamese food supply market is estimated at $100 billion, with a projected compound annual growth rate (CAGR) of over 5% in the next five years, making it ripe for disruption.

Expansion to Multiple Cities in Vietnam

In December 2024, KAMEREO expanded its operations to Hanoi, complementing its existing presence in Ho Chi Minh City, which together account for over 50% of Vietnam's GDP. The company has established a daily refrigerated transportation system linking the northern and southern regions, with plans for logistics and sales operations in central Vietnam.

KAMEREO is actively addressing the growing demand from customers in regions beyond Ho Chi Minh City and Hanoi, aiming for comprehensive coverage across Vietnam.

Marketplace Development

KAMEREO is enhancing its marketplace capabilities by leveraging its extensive last-mile delivery network, three temperature-controlled warehouses, and a client base of over 3,000 customers. Unlike traditional inventory management models, KAMEREO allows producers and manufacturers to store their goods in its warehouses, managing sales, delivery, and payment collection on their behalf.

This model enables suppliers to access the HORECA (hotels, restaurants, and cafes) sector without substantial setup costs. A recent partnership with GYOMU JAPAN has introduced approximately 450 products to KAMEREO's marketplace, a move that has been positively received by customers.

Private Label Strategy

KAMEREO is also focusing on developing its private label offerings. The strategy centers on two main goals:

1. Sales of Pre-Cut Vegetables and Fruits: With the shift from traditional markets to modern retail in Vietnam, KAMEREO aims to introduce products that cater to increasing consumer demands for food safety and traceability.
   
   
2. Enhancing Brand Awareness: By leveraging partnerships with local OEM facilities, KAMEREO can produce high-quality private label products at lower costs, improving price competitiveness in the market.

Investor Insights

Hiroki Takeno, Executive Officer, Retail SBU Head, Sumitomo Corporation

“KAMEREO has been addressing the needs and challenges of those involved in the restaurant, café, and food service industries, steadily gaining widespread support through meticulous improvements. This has significantly contributed to the development of Vietnam's food distribution industry.” Sumitomo Corporation plans to collaborate with Fujimart in Hanoi to support KAMEREO’s expansion and deliver high-quality, safe, and reliable food to more customers.

Manabu Fujimoto, Director , Inspire Investment Co., Ltd.

“For over 10 years, our company has been supporting the overseas expansion of Japanese businesses, particularly in the ASEAN region.” Fujimoto emphasized the value of KAMEREO’s vertically integrated supply chain for business growth in Vietnam, stating it offers “mutually beneficial value indispensable for business expansion.” Inspire Investment aims to foster cross-industry collaboration and create synergies with their portfolio companies.

Motohiro Takeuchi, Deputy General Manager, Investment Department IV, SMBC Venture Capital Co., Ltd.

“KAMEREO, led by a Japanese CEO with a unique organizational culture that places ‘Kaizen’ as its core value, has steadily advanced through persistent sales activities and operational improvements.” Takeuchi highlighted how this approach has created a virtuous growth cycle, and expressed pride in supporting CEO Tanaka, whom he described as “one of Vietnam's most promising Japanese entrepreneurs and a potential role model for globally active entrepreneurs originating from Japan.”

Taiki Goto, Deputy General Manager, Investment Department II, Mitsubishi UFJ Capital Co., Ltd.

“Vietnam, with a population surpassing 100 million in 2023 and ongoing economic growth, presents significant market potential, particularly in its food distribution network, where there is room for greater efficiency.” Goto commended CEO Tanaka’s leadership and KAMEREO’s vertically integrated supply chain, saying, “We are honored to have the opportunity to invest in KAMEREO and will support their endeavors by leveraging MUFG’s Southeast Asia network.”

KAMEREO operates a wholesale food supply e-commerce platform, focusing on vegetable and fruit supply through its collection centers. The company has developed a comprehensive supply chain that utilizes cold chain logistics, ensuring quality and reliability. An in-house tech team enhances customer ordering and logistics management, aiming to reduce inefficiencies in Vietnam's food supply chain.

With over 200 employees, KAMEREO serves more than 3,000 businesses in Vietnam, positioning itself as a leader in the evolving food supply landscape. The company’s commitment to efficiency, quality, and customer service continues to drive its growth and innovation in the market.