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.
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
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Shareholders raise questions over dividend payout, directors’ salaries at Best World AGM ahead of proposed privatisation
China’s Bank of Communications Q1 profit rises 1.44%
Huawei’s smart car tech offers automakers route to China sales
Electrolux Q1 loss nearly triples on weak demand but beats expectations
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale