Funding Round attributes
Cayena, a Brazilian startup founded in 2019 by Gabriel Sendacz, Raymond Shayo, and Pedro Carvalho operates a B2B marketplace that connects restaurants, bars, hotels, hidden kitchens, schools, catering companies, and grocery stores with food suppliers. This digital platform facilitates input procurement and optimizes the food industry’s supply chain, providing a technology- and data-driven approach. In its latest round of B-series investments, Cayena raised $55 million. This round was led by Bicycle Capital and also participated in the Picus Capital round, FEMSA Ventures, Astella, Globo Ventures, Endeavor Catalyst, Canary, FJ Labs, Clocktower, and Norte Ventures.
The funding obtained will be mainly used to expand Cayena’s operations throughout Brazil. The startup is looking to expand to 500 more cities in Brazil from its current 100 locations. In addition to continuing to develop its technology platform. Part of the funds will also be used to strengthen its financial services offering, to provide credit to its customers, allowing it to optimize its cash flows and better manage its inventories. The company plans to expand eventually to other countries in Latin America, where the food wholesale business is estimated to be a $200 billion industry annually.
Investors have seen great potential in Cayenne because of its disruptive approach to digitalizing the purchasing process in the food sector. Bicycle Capital and the other investors contribute not only capital but also experience and a network of contacts that will enhance the company’s growth. The $55 million investment underlines investors' confidence in Cayenne’s ability to transform this traditionally fragmented and inefficient market.
Cayena uses advanced technology tools that combine artificial intelligence and data analytics to provide an efficient platform tailored to the needs of the sector. Its goal is to optimize restaurant purchases, reducing costs and time, and improving visibility in the supply chain. This approach not only improves your customers' operational efficiency but also enables them to make more informed decisions about their purchases.
The client who wishes to use the platform has access to more than 50,000 products, and to alleviate short-term liquidity problems, Cayena often gives customers several weeks to pay and at the same time guarantees reimbursement to suppliers even if the end-user defaults.
The firm, which has nearly 200 employees, of whom about 70 are in technology, raised $3.5 million in September 2021 and an additional $17.5 million six months later. Some of its large customers include Heineken NV, FEMSA, Accor Group, hotels, and restaurant chains such as Outback Steakhouse and Fogo de Chao.
The financial backing of investors such as Bicycle Capital and other investors positions Cayena as a key player in the Latin American food market. This investment not only ensures its growth but also marks a milestone in the digital transformation of the food supply chain, promoting efficiency and innovation in a crucial sector.
