The funding round attracted prominent investors including Y Combinator, Goodwater Capital, and angel investors like Shola Akinlade, co-founder of Paystack.

Founded in 2021, Chowdeck has quickly gained traction in the Nigerian market, boasting over 500,000 users across eight cities.

The company attributes its success to its focus on speed and execution, inspired by CEO Femi Aluko’s experience with efficient delivery services abroad.

Chowdeck has also strategically partnered with major players like Chicken Republic and Shoprite, expanding its reach and user base.

“Our mission is to make delicious food easily accessible to Nigerians,” said Aluko in a statement. “This funding allows us to further improve the experience for our customers, vendors, and delivery riders.”

Nigeria’s on-demand delivery sector is booming, fueled by urbanization, smartphone adoption, and changing consumer habits.

A Statista report projects the online food delivery market to reach $2.83 billion in 2024, with continued growth expected in the coming years.

However, the market is not without challenges. Infrastructure issues like bad roads and heavy traffic can disrupt deliveries, while a struggling economy may limit customer spending. Despite these hurdles, Chowdeck remains optimistic, aiming to expand into new Nigerian cities before the end of 2024.

The company’s success story stands in contrast to recent exits from the market by competitors like Jumia Food and Bolt Food.

Chowdeck’s focus on efficiency, strategic partnerships, and a deep understanding of the Nigerian market position it for continued growth.