Skip to main content

Indonesia-based grocery app HappyFresh reaps $65M led by Naver Financial and Gafina

HappyFresh, the on-demand grocery app based in Indonesia, announced today it has raised a $65 million Series D. The round was led by Naver Financial Corporation and Gafina B.V., with participation from STIC, LB and Mirae Asset Indonesia and Singapore. It also included returning investors Mirae-Asset Naver Asia Growth Fund and Z Venture Capital.

The company’s previous round of funding was a $20 million Series C announced in April 2019.

Resurgent HappyFresh raises $20M for its online grocery service in Southeast Asia

Founded in 2014, HappyFresh was the first Instacart-style grocery delivery service to launch in Southeast Asia. It expanded into five markets before shutting down its operations in Taiwan and the Philippines in 2016. It continues to operate in Indonesia, Malaysia and Thailand.

COVID-19 pandemic accelerated shift to e-commerce by 5 years, new report says

In a press release, HappyFresh said it “has been experiencing an unprecedented growth” over the past 18 months as customers turned to grocery deliveries during the pandemic, with traffic growing by 10x to 20x in its three countries.

In a statement, HappyFresh chief executive officer Guillem Segarra said, “We see a big shift in customers’ behavior; retention and frequency rates have significantly increased while the overall basket size has been consistently growing. We attribute this to a major shift in share of wallet from offline to online, which is here to stay.”

The new funding will be used to scale HappyFresh’s operations, including growing its fleet of drivers. The company also plans to add more payment methods, improve user experience and increase its assortment of items.

What grocery startup Weee! learned from China’s tech giants



from Startups – TechCrunch https://ift.tt/2URNHMK
Labels:

Comments

Post a Comment

Popular posts from this blog

Axeleo Capital raises $51 million fund

Axeleo Capital has raised a $51 million fund (€45 million). Axeleo first started with an accelerator focused on enterprise startups. The firm is now all grown up with an acceleration program and a full-fledged VC fund. The accelerator is now called Axeleo Scale , while the fund is called Axeleo Capital . And it’s important to mention both parts of the business as they work hand in hand. Axeleo picks up around 10 startups per year and help them reach the Series A stage. If they’re doing well over the 12 to 18 months of the program, Axeleo funds those startups using its VC fund. Limited partners behind the company’s first fund include Bpifrance through the French Tech Accélération program, the Auvergne-Rhône-Alpes region, Vinci Energies, Crédit Agricole, BNP Paribas, Caisse d’Épargne Rhône-Alpes as well as various business angels and family offices. The firm is also partnering with Hi Inov, the holding company of the Dentressangle family. Axeleo will take care of the early stage in...
Post a Comment
Read more

TikTok’s rivals in India struggle to cash in on its ban

For years, India has served as the largest open battleground for Silicon Valley and Chinese firms searching for their next billion users. With more than 400 million WhatsApp users , India is already the largest market for the Facebook-owned service. The social juggernaut’s big blue app also reaches more than 300 million users in the country. Google is estimated to reach just as many users in India, with YouTube closely rivaling WhatsApp for the most popular smartphone app in the country. Several major giants from China, like Alibaba and Tencent (which a decade ago shut doors for most foreign firms), also count India as their largest overseas market. At its peak, Alibaba’s UC Web gave Google’s Chrome a run for its money. And then there is TikTok, which also identified India as its biggest market outside of China . Though the aggressive arrival of foreign firms in India helped accelerate the growth of the local ecosystem, their capital and expertise also created a level of competit...
Post a Comment
Read more