Temasek, East Ventures back $8.8m round of F&B startup

Healthy food chain SaladStop Group has raised S$12 million (around US$8.8 million) in a series B round led by Temasek. East Ventures, K3 Ventures, Vulcan Capital, and existing investor DSG Consumer Partners also participated in the round.

(From left) SaladStop Group’s Frantz Braha, Katherine Desbaillets Braha, and Adrien Desbaillets / Photo credit: SaladStop Group

Founded in 2009, SaladStop Group operates several healthy food brands such as SaladStop, Heybo, Wooshi, and GoodFoodPeople. It currently operates in Singapore, Hong Kong, Indonesia, Vietnam, Japan, South Korea, Spain, and the Philippines, with over 800 employees and 69 outlets.

In a statement, SaladStop says that it is the first and largest healthy food chain in Asia.

The company is founded as a family business by Daniel Desbaillets and his son Adrien. Other family members later took on executive roles: Katherine Desbaillets Braha, Daniel’s daughter, is SaladStop Group’s chief brand officer, while Frantz Braha, Daniel’s son-and-law, serves as the food chain’s chief growth officer.

SaladStop Group plans to use the fresh funds to accelerate its digital transformation, expand to four other countries by 2025, and build cloud kitchen networks to cover customers in second-tier cities.

The company said it serves 3.5 million people each year through its online and offline channels. The food and beverage chain added that it aims to push out over 20 million meals by 2025.

Currency converted from Singapore dollar to US dollar: US$1 = S$1.35