Vietnam-based food sourcing startup Kamereo nets $7.8 mln in Series B funding

Kamereo, a food sourcing startup based in Vietnam, has secured $7.8 million in a series B funding round, bringing its total funding to $15 million over six years of operation.

The round included Sumitomo Corporation, Inspire, SMBC Venture Capital, Mitsubishi UFJ Capital, Reazon Holdings, and some individual investors, the firm said in an announcement on Monday.

The fresh proceeds will be used to expand Kamereo’s operations across Vietnam, launch new services like a marketplace model, and diversify its product portfolio.

Kamereo was co-founded by Japanese businessman Taku Tanaka in 2018 after he left Pizza 4P’s chain as chief operating officer. The startup raised $500,000 in 2019 and another $4.6 million in series funding in 2021.

Kamereo has expanded its operations to Hanoi since this month, besides the main market of Ho Chi Minh City. The firm has developed a daily refrigerated transport system connecting the north and the south of Vietnam and will build logistics and sales centers in the central region.

According to a report by food and beverage service provider IPOS, Vietnam’s F&B market recorded revenues of VND590 trillion ($23.3 billion) in 2023, up 11.47% year-on-year. As of end-2023, Vietnam had recorded 317,299 eateries and cafes, up 1.26% from 2022.