Online grocery platform HappyFresh announces $65m Series D funding
HappyFresh, an on demand grocery delivery venture based in Indonesia, has raised $65 million in a Series D round.
This was led by Naver Financial Corporation and Gafina, with participation from STIC, LB and Mirae Asset Indonesia and Singapore.
Returning investors Mirae-Asset Naver Asia Growth Fund and Z Venture Capital were also involved
HappyFresh, which was founded in 2014, previously raised a $20 million Series C in April 2019.
The new funding will be used to scale its operations, add more payment methods, improve user experience and increase its assortment of items.
HappyFresh CEO Guillem Segarra says: “We see a big shift in customers’ behaviour; retention and frequency rates have significantly increased while the overall basket size has been consistently growing.”
“We attribute this to a major shift in share of wallet from offline to online, which is here to stay.”
Gopuff
Another rapid grocery delivery startup, Gopuff, is close to raising approximately $1 billion, valuing it at $15 billion, according to media reports.
The venture was last valued at $8.9 billion after a March funding round pulled in $1.15 billion.
The latest round will include participation from Blackstone Group, and also existing investor Fidelity.
Gopuff is using the cash to acquire new customers and build out its infrastructure.
This includes a micro-fulfilment centre that stocks around 3,000 products for the 650+ cities in the US where it currently operates its $1.95 flat fee “in minutes” delivery service.
It is also in the acquisition business. For instance, in June of this year it bought logistics tech company rideOS for $115 million.
