Indonesia-based grocery delivery app HappyFresh announced today it raised US$12 million in a series A funding round led by Vertex Ventures, the venture arm of Temasek Holdings and Sinar Mas Digital Ventures (SMDV), the venture arm of Indonesia’s Sinar Mas Group. Other participating investors include Asia Venture Group, Beenext, Ardent Capital, 500 Startups, and Cherry Ventures.
After launching its next-hour online grocery delivery service in March in Indonesia and Malaysia, HappyFresh decided to expand to Thailand and Taiwan.
“We are very happy to partner with Vertex and SMDV. We are looking forward to benefitting from their strong networks to further expand our footprint across Southeast Asia,” says HappyFresh CEO and co-founder Markus Bihler. “We will continue to invest in enhancing our product and service building HappyFresh into the region’s leading food tech group.”
HappyFresh is an early mover in the food marketplace industry in Southeast Asia. Established in October 2014, the firm has partnered with well-known supermarkets, including Ranch Market and Farmer’s Market. The company employs personal shoppers who choose products in-store. HappyFresh claims its on-demand logistics network allows for next-hour delivery. The company is headquartered in Jakarta with operations in Malaysia, Indonesia, Thailand, and Taiwan. The founding team includes Markus Bihler, Benjamin Koellmann, and Fajar Budiprasetyo.