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South-east Asian online groceries firm HappyFresh raises at least US$12m

[JAKARTA] South-east Asian online groceries delivery company HappyFresh on Monday said its latest fundraising had beaten the US$12 million of its previous round, after attracting a consortium of new and existing investors including private equity firm Samena Capital.

Repeat investors included the venture arm of Singapore state investor Temasek Holdings (Private) Ltd and a unit of Indonesian palm and paper conglomerate Sinar Mas Group, said HappyFresh chief executive Markus Bihler.

Lead investor Samena Capital, which manages "capital commitments" of more than US$700 million, is an investment group focusing on the Indian subcontinent, Asia, the Middle East and North Africa.

"It's a bigger round than the last round" a year earlier, when HappyFresh raised US$12 million, Mr Bihler told Reuters. He declined to disclose the exact amount raised in the latest round.

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Jakarta-based HappyFresh, whose core markets are Indonesia, Malaysia and Thailand, will use the money to increase its product offerings, fleet of motorcycles and number of partner supermarkets, Mr Bihler said.

REUTERS

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