CaterSpot eyes APAC expansion with backing from Tat Hong family office

Sharanya Pillai

Published Mon, Mar 30, 2020 · 09:50 PM

Singapore

EVEN amid the Covid-19 outbreak, B2B food delivery player CaterSpot has its eye on growth. The profitable startup is targeting to raise between US$6-8 million in Series A funds in the first quarter of 2021 to fuel its expansion in Asia-Pacific markets - Malaysia, Taiwan, South Korea and Australia - as well as the United Arab Emirates.

To get there, CaterSpot is newly armed with "old money". It recently received a fresh injection of funds from Triplestar Holdings, a family investment holding company helmed by Andrew Ng, the second son of Tat Hong Holdings' chief executive Roland Ng. Tat Hong is one of Asia's largest crane suppliers.

In January, CaterSpot raised US$800,000 in a pre-Series A round led by Triplestar and joined by angel investor network Bansea and other angels. Triplestar had also led a US$800,000 funding round into CaterSpot back i…