Vietnamese food-sourcing firm raises $2.1m after hitting profitability in 2023

Shippers delivering Kamereo products./ Photo credit: Kamereo

Kamereo, a B2B food-sourcing platform, has raised US$2.1 million as it aims to secure market leadership in its home country of Vietnam.

The fresh funds were raised in a pre-series B round, led by Japan-based Reazon Holdings and Thoru Yamamoto, who is the CEO of Tokyo-listed B2B firm Foodison. China-based VC firm Quest Ventures also participated in the funding round.

Since its inception in July 2019, Kamereo has aimed for profitability. It achieved the feat in early 2023, its CEO and founder Taku Tanaka told Tech in Asia.

“This improvement stems from various kaizens, or continuous improvements in Japanese, undertaken daily by our team,” he added. These include doubling down on direct purchases from producers and enhancing the firm’s operational capacity.

The startup primarily offers an online marketplace for farmers and food and beverage businesses to trade and source fresh supplies.

In 2021, when the company closed its series A round, Tanaka told Tech in Asia that Kamereo is an alternative for small and medium-sized F&B businesses in Vietnam, which usually source their ingredients from wet markets.

Now, Tanaka said the company plans to expand its reach within Vietnam. “Currently, we’re poised for expansion into Hanoi, complementing our existing service coverage in Ho Chi Minh City and Binh Duong City.”

Kamereo is also looking to step into Cambodia, given its proximity to Ho Chi Minh City.

To aid in its scaling efforts, Kamereo has expanded its consumer retail business through its in-house brand. The company has been selling “ready-to-eat” salads through supermarkets and convenience stores since 2023. Kamereo will use part of the new funds to develop this business.

“Unlike traditional players, we’re committed to long-term investment in building a comprehensive supply chain system, setting us apart in the market,” Tanaka said. “With our strong team and operational foundation, we’re poised to emerge as the leading food supply chain company in Vietnam.”

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