Aditya Hadi Pratama · · 1 min readPTT subsidiary leads $23.5m round of Thai agritech firm
Freshket, a Thailand-based agritech firm, has raised US$23.5 million in a series B funding round led by PTT Oil and Retail Business (PTTOR) – a subsidiary of state-owned conglomerate PTT – with participation from Openspace, Betagro Holding, Orzon Ventures, and Volta Circle.
Freshket team / Photo credit: Freshket
Founded in 2017 by Ponglada Paniangwet and Saran Chiwtanasuntorn, Freshket delivers meat, vegetables, dry food, and seasonings to both individual customers and businesses such as restaurants and hotels. It offers more than 7,000 products on its platform.
The company currently facilitates transactions worth US$2.9 million every month. This marks a 3x growth compared to 20 months ago.
It plans to use the fresh funding to improve its service efficiency, expand its offerings, and enter new product categories.
Prior to the deal, PTTOR had indirectly invested in the company through its VC fund Orzon Ventures. The company then directly invested in Freshket as it aims to integrate the agritech firm’s service to its restaurant operators.
See also: The key players in Southeast Asia’s online grocery market
Editing by Miguel Cordon and Lorenzo Kyle Subido
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