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HappyFresh raises undisclosed funding in Series B funding round from Samena Capital, Vertex Ventures & Sinar Mas

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Southeast Asian online groceries delivery company HappyFresh said its latest fundraising had beaten the $12 million of its previous round in sept, 2015

Jakarta – August 29, 2016. RedNewswire/-

HappyFresh is an eCommerce company in South East Asia. They enable customers to order groceries from their chosen supermarkets or wet markets online, picked by dedicated & trained in-store shoppers and have them delivered at doorstep in 1 hour. Deliveries are monitored in-app, Uber-style.

As of June 2015, HappyFresh is present in 12 branches of Farmers Market and Ranch Market across Jakarta. Has an interesting team, 7 co-founders from Blackstone, Goldman Sachs, The Boston Consulting Group, J.P. Morgan, Rocket Internet, and Rocket Internet’s Lazada Group.

Lead investor Samena Capital, which manages “capital commitments” of more than $700 million, is an investment group focusing on the Indian subcontinent, Asia, the Middle East and North Africa. Existing investors including Vertex Ventures, the venture arm of Singapore-based Temasek group, Sinar Mas Digital Ventures, as well as Endeavor Catalyst also joined in.

HappyFresh co-founder and CEO Markus Biehler wouldn’t say much about the size of the investment.

“It’s a bigger round than the last round” a year earlier, when HappyFresh raised $12 million, Bihler told. He declined to disclose the exact amount raised in the latest round.

Markus says HappyFresh’s current round is going primarily into developing its tech.The focus now is on building a sustainably profitable company. Across its markets, HappyFresh has 300,000 customers, a solid 80 to 85 percent of whom are repeat customers.

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