Indonesia-based online grocery platform HappyFresh raised US$20 million in a series C round led by South Korea’s Mirae Asset-Naver Growth Fund.
The funding round also included participation from HappyFresh’s strategic partners, such as Line Ventures, Singha Ventures, and Grab Ventures.
Photo credit: HappyFresh
The startup, founded in 2015, plans to use the fresh capital to expand further across Southeast Asia. It will also invest in developing its technology as well as scaling its data science and omnichannel tech teams. It looks to capitalize on new markets where macro trends are favorable for its value proposition, the startup said in a statement.
Grab Ventures has acquired a minority stake in HappyFresh in September 2018, following the ride-hailing giant’s rollout of Grab Fresh in July, which integrates the Indonesian startup’s platform into the Grab app.
Other online grocery startups in Southeast Asia include Singapore’s Honestbee, Lazada’s Redmart, and Philippines-based MetroMart.
Editing by Charmaine de Lazo
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