HappyFresh secured USD 20 million in Series C fundraising round
Jakarta, Indonesia – Indonesia-based online grocery platform, HappyFresh, has successfully closed Series C funding, according to its press release.
The US$20-million funding was led by Mirae Asset-Naver Growth Fund and other strategic partners, such as LINE Ventures, Singha Ventures and Grab Ventures.
The proceeds of the funding will be used for both city and country expansion, as well as investment into technology and to further support growing the team in a number of specialist functions such as data science, and omnichannel technology.
Talking about the latest funding, Guillem Segarra, CEO, HappyFresh said, “Our primary focus lies on expanding our geo-footprint across the region, investing in the latest technology to drive innovation, and hiring top tier talent to fuel that development.
Our commitment towards the region continues to revolve around further developing the retail industry as a whole, drive social impact across the value chain and create entirely new job opportunities to enable the rapidly evolving consumer trends.
The press release said from innovations at farm level to the supermarket revolution, Asia’s food systems are undergoing a significant transformation and we're at the centre of it in Southeast Asia.
Everything that we see in our day to day tell us that in the near future everyone in Southeast Asia will buy their groceries online and we're very confident SEA will lead the way. The grocery business and the consumer verticals are ripe with HappyFresh poised for growth.”
Segarra said, “Moving forward, we will continue to invest in our technology and our data infrastructure. We believe that one of our advantages in the digital world is the ability to build highly efficient, personalized services and that's the direction.
We have set the foundations to lead in the data revolution as we start designing information-fueled solutions that gather data from purchases made online and enable us to forecast product demand, offering personalized experience across all digital channels and platforms, efficiently coordinating supply and delivery with on demand services - under one hour and moving towards real time/on demand deliveries.
We are pioneering the usage of machine learning algorithms to offer a unique and personalized experience for the grocery journey. Really exciting times!”
HappyFresh has seen exponential growth since its beginning in 2015, being 2018 its best year thus far – a reflection of the rapid increase of the demand for the grocery use case. Growth in the middle class, seek for convenience and personalized service and a great offering when it comes to value for money made HappyFresh a successful service across young professionals and busy families.