KAMEREO, Vietnam’s pioneering B2B food sourcing platform, is set to transform the country’s culinary landscape following a substantial investment of $2.1 million in pre-Series B funding.
Since its inception in 2019, KAMEREO has experienced a remarkable average annual sales growth rate of over 300%, solidifying its position as a key player in Vietnam’s food supply B2B e-commerce sector.
The recent funding round, co-led by Reazon Holdings, Inc., Quest Ventures, and Thoru Yamamoto, CEO of FOODISON, marks a significant milestone for the company, bringing its total funding to $7.2 million.
KAMEREO plans to use the new funds to strengthen its sales team, expand its product variety and in-house brands, and grow its warehouse network. This will help it better serve its growing customer base with a wider range of options.
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Despite challenges posed by the nationwide lockdown in Vietnam until the third quarter of 2021, KAMEREO has demonstrated resilience, witnessing substantial growth and improved profitability. Beyond serving restaurants, its clientele now extends to supermarkets, convenience stores, factories, schools, hospitals, and more.
Satoshi Kuriga, Senior Executive Director of Reazon Holdings, Inc., commended KAMEREO’s resilience in navigating Vietnam’s logistical challenges, affirming confidence in its potential to emerge as a market leader.
“Taku Tanaka, KAMEREO’s CEO and co-founder, exhibits a remarkable talent for assembling teams to achieve this ambitious goal,” Satoshi said. “Despite the immense size of Vietnam’s food supply market, no clear winner has emerged. We firmly believe that KAMEREO is poised to seize. this opportunity to emerge as the market leader. As avid supporters, we are committed to assisting the KAMEREO team in realizing this vision.”
In a market valued at $100 billion with a Compound Annual Growth Rate (CAGR) exceeding 5%, Vietnam presents immense opportunities for KAMEREO to emerge as a dominant force. Unlike developed countries, where major wholesale companies and agricultural cooperatives dominate the food supply chain, Vietnam’s market landscape comprises numerous individual dealers, leaving ample room for disruption and innovation.
James Tan, Managing Partner of Quest Ventures, highlighted KAMEREO’s ability to address inefficiencies in Vietnam’s food supply chain, underscoring its position to tap into untapped wholesale and cooperative markets. “KAMEREO has built an impressive infrastructure to provide customers with an affordable and reliable supply of vegetables and fruits,” James said.
KAMEREO’s commitment to strengthening its private brands aligns with its strategic vision for sustained growth. A portion of the funds raised will be allocated to the development of ready-to-eat vegetables for supermarkets and convenience stores, as well as non-food materials to enhance brand recognition.
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Thoru Yamamoto, CEO of FOODISON, expressed confidence in KAMEREO’s innovative approach to fresh food distribution and cited its potential for rapid growth within Vietnam’s burgeoning market. “The potential of KAMEREO’s platform in Vietnam's untapped market is significant, and future growth is anticipated. I sincerely support KAMEREO’s success and eagerly anticipate the development of Vietnam’s food supply chain.”
KAMEREO’s comprehensive approach to wholesale food supply, integrating cold chain logistics and in-house engineering expertise, underscores its commitment to affordability, stability, and reliability. With a workforce of over 200 employees and a clientele of over 3,000 businesses, KAMEREO is poised to reshape Vietnam’s food supply landscape, one order at a time.