HappyFresh raises USD12 million – Series A led by Vertex and Sinar Mas Digital Ventures

Singapore & Jakarta – 14 September 2015. HappyFresh, Southeast Asia’s leading online grocery company, has today successfully completed a funding round led by Vertex Venture (Vertex), the venture arm of Temasek Holdings, and Sinar Mas Digital Ventures (SMDV), the venture arm of Sinar Mas Group of Indonesia.

Other investors participating include Asia Venture Group, BEENEXT, Ardent Capital, 500 Startups and Cherry Ventures.

After having launched its next-hour online grocery delivery service in March in Indonesia and Malaysia, HappyFresh has successfully expanded its operations to Thailand and Taiwan.

“We are very happy to partner with Vertex – one of the strongest and most reputable investors across Southeast Asia – and SMDV – which is affiliated with Sinar Mas – one of Indonesia’s most established industrial groups. We are looking forward to benefitting from their strong networks to further expand our footprint across Southeast Asia,” said Markus Bihler, CEO and Co-Founder. “We will continue to invest in enhancing our product and service offering to our partners and customers, building HappyFresh into the region’s leading food tech Group.”

“This is a business model which clearly benefits the supermarkets and the consumers. Its capital efficient model allows it to scale easily and very quickly,” said Joo Hock Chua, Managing Director of Vertex, who will join the Board of HappyFresh. “Markus and his team are experienced entrepreneurs and they have demonstrated strong execution capability. Vertex is happy to lead this round of investment. We will bring our experience and global network to help HappyFresh.”

About HappyFresh

HappyFresh is a pioneer in the new, fast-growing food marketplace industry in Southeast Asia. Founded in October 2014 by seasoned entrepreneurs, HappyFresh partners with well-known retail chains to bring customers a full and varied selection of items at a range of price points. The company’s professionally trained Personal Shoppers pick the best products, while the company’s advanced on-demand logistics network allows for next hour delivery.

 

HappyFresh is headquartered in Jakarta with operations in Malaysia, Indonesia, Thailand and Taiwan and is led by Markus Bihler, Benjamin Koellmann and Fajar Budiprasetyo.

 

For more information, please visit: https://www.happyfresh.com/

 

Download the App on: Google Play & App Store, or shop at https://happyfresh.com/


About Vertex

Vertex Venture is a wholly-owned subsidiary of Temasek Holdings, investing in emerging companies and leading venture capital funds throughout Greater Asia and the US. Since inception in 1988, the group has achieved substantial returns for investors, while helping over 150 entrepreneurial companies realise their intrinsic value, through strategic listings on key capital markets across the world and through key acquisitions by industry leaders. With Headquarters in Singapore and presence across Southeast Asia and in the US, Vertex has invested in more than 350 start-up companies in the Pan Pacific and other regions, primary fund commitments to over 90 third party venture capital and private equity funds in the US, Europe and Asia, with total deployed capital in excess of US$1.2 billion.

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