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Ecommerce

HappyFresh startup raises USD 20 mln for its online grocery service

Monday 22 April 2019 | 01:35 PM CET

Indonesia-based online grocery startup HappyFresh has completed a USD 20 million Series C fundraising round led by the Asia Growth Fund.

Launched in 2015, the service is currently active in Indonesia, Thailand, and Malaysia, where it works with supermarkets and other retailers to allow customers to order groceries online. Moreover, HappyFresh’s employees also provide same-day delivery services.

The funding round was led by the Mirae Asset-Naver Asia Growth Fund – a joint fund between financial firm Mirae and Line’s parent company Naver – with participation from Line Ventures, Singha Ventures, and Grab Ventures, the investment arm of ride-hailing company Grab. Other investors include Samena Capital, Vertex Ventures, Sinar Mas Digital Ventures, 500 Startups, and BeeNext.

The startup plans to use the new capital in order to double down on technology, which includes increased personalisation for customers when they are shopping as well as logistics that are more efficient.

More: Link
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