Temasek leads S$12m investment in SaladStop! Group

HEALTHY food chain SaladStop! Group said it has closed a S$12 million Series B round led by Singapore state investor Temasek.

New investors include East Ventures, Microsoft co-founder Paul Allen's Vulcan Capital, and Kuok family-linked K3 Ventures. Existing investor DSG Consumer Partners also participated in the round.

The SaladStop! Group brands include SaladStop!, Heybo, Wooshi and Good Food People across a hybrid online and offline model. The group operates 69 outlets and is in 7 markets across the Asia-Pacific. Over 50 per cent of sales are generated online and a substantial proportion are generated through direct channels, the company said.

SaladStop! was founded in 2009 by father and son, Daniel and Adrien Desbaillets, and co-headed by daughter Katherine and son-in-law Frantz Braha.

The funding will help with investments in technology and the company's expansion across Asia. It plans to add 4 new countries by 2025 and expand into second tier cities through its cloud kitchen model.

"This will enable the group to leverage its newer health food brands Heybo and Wooshi, at lower price points, and offer many more customers access to nutritious food at affordable pricing," the company said in a press statement.

SaladStop also plans to invest more in food sustainability, focusing on ingredient traceability and opening its first "net-zero outlet" in 2022.

The company said it offers plant-based foods, sustainably sourced ingredients and green packaging, and allows customers to carbon-offset their meal. Earlier this month, it launched Good Food People, a plant-based online grocer.