KAMEREO, a B2B purchasing and sourcing platform for restaurants in Vietnam, has raised $500,000 in a seed round from Japan’s Genesia Ventures and homegrown VC firm Velocity Ventures Vietnam (VVV), according to an official statement.
Founded in June last year by Taku Tanaka, KAMEREO operates as a one-stop platform where restaurants and suppliers can connect to each other. Since its launch, the platform has got more than 120 suppliers and 200 restaurants registered with around 4,000 SKUs (stock-keeping unit).
The funding raised will be used for developing more product features and strengthening its customer success team, the Ho Chi Minh-based company said in the statement.
“All of purchasing and sourcing tasks in the restaurant business are done by people and we believe technology can help a lot to reduce labor cost with transparency and accuracy. Also, there is currently no one-stop platform where restaurants and suppliers can connect even though both are looking for each other. We aim to use technology to solve the inefficiency of purchasing and sourcing so that all restaurants can focus on their core business,” said Tanaka.
Before founding KAMEREO, Tanaka was institutional equity research & sales analyst at Credit Suisse in 2012. He left Credit Suisse to pursue his dream to be involved in the restaurant business in expanding markets. He joined Pizza 4P’s in January 2015, and got appointed as COO in charge of accounting, purchasing/sourcing, and HR.
Japanese Genesia Ventures, which has invested in a number of Vietnamese and Thai startups, was set up in 2016 led by Soichi Tajima, former CEO of Cyberagent Ventures. The firm focuses on the seed and pre-Series A stages across various sectors, including new economy, digital media, AI and robotics.
In March 2018, the VC firm led a $2.5-million pre-Series A funding round in Vietnam’s Airbnb-like startup Luxstay. Founders Capital, Y1 Ventures and two other investors also joined the round. The Tokyo-based ventures capital firm also led a $1.2-million funding round into Docquity.
Founded in mid-2018, VVV is a home-grown venture capital firm that targets seed to series A investment. It seeks to invest in marketplace businesses in areas like real estate, food, commerce, healthcare, finance, travel, mobility, cloud computing, and education. KAMEREO is its first investment.