Funds Raised

USD 26 Million

Deal Stage

Series C

Deal Type

Private Placement

Investment Highlights

  • Leading E-grocery Platform in South East Asia. The company is present in 3 countries with 300,000 customers and over 1.5M successful orders delivered from at least 300 supermarket locations. Its total sales on the platform has exceeded US$50M.
  • Profitable and Asset Light. The Company is the only profitable, grocery focused, asset-light marketplace in South East Asia (SEA). Its unique position allows it to deliver best-in-class experience in a profitable fashion.
  • Well-positioned in SEA fast-growing grocery retail market. SEA food retailing industry is growing at a CAGR of 9% to USD164Bn in 2020. Online Grocery retailing is outgrowing traditional retail by 14% to USD64M in 2020. Traditional grocery retail industry in SEA will change more in the next 5 years than in the past 50 years.
  • Present in three of the largest and fastest Grocery Market in SEA. The Company has presence in Indonesia, Thailand and Malaysia which is within the top four largest grocery markets in SEA. These three markets are also the fastest growing markets in SEA with a 5-year CAGR of 27%,14% and 13% for Indonesia, Thailand and Malaysia respectively. It is looking to expand into the other markets in the region in the near future so as to be the leading online grocery platform in SEA.
  • Market Leader in online grocery and fulfillment technology. The Company works across platforms (iOS, Android, desktop web) and has over the last 3 years built up a 50 person team comprising of developers, product managers, designers and UI/UX researchers with a dedicated e-commerce and digital marketing experts team.
  • Offer a user-friendly end-to-end plug-and-play e-commerce solution for its clients. It provides a suite of solutions including content management, logistics expertise, digital marketing expertise and customer insights to its supermarket clients and blends the boundaries between online and offline solutions.
  • Experienced Management Team with Scalable Platform. The senior management team has extensive e-commerce, retail management experience. Its top tier management and strong shareholder base provide deep relevant experience for the Company’s growth plans.

Use of Proceeds

  • Working capital
  • Capital expenditure
  • Other general corporate purposes
  • Geographical and product expansion


  • The Company seeks to bring Instacart-like grocery deliveries to Southeast Asia.
  • Launched in 2015, the Company quickly expanded its vision of digital deliveries across South East Asia. Today the service is active in Indonesia, Thailand and Malaysia where it works with supermarkets and other retailers to let customers order groceries online.
  • Its vision is to be in every single household in Southeast Asia and to democratize grocery delivery.

Financial Summary