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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.

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.

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