April 26, 2024

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HappyFresh, the Indonesian operator of a grocery on-demand platform, has received $20 million in a series C funding round led by Mirae Asset-Naver Asia Growth Fund, according to Mirae Asset on April 23.

Joining the round were Vertex Ventures, SMDV, Samena Capital, Asia Venture Group, Grab and Line Ventures.


 

Courtesy of HappyFresh

Related:
Mirae Asset, Naver invest W56b in Indonesian e-commerce unicorn
Mirae Asset, Naver invest US$150m in Grab

Founded in 2015, HappyFresh offers same-day grocery delivery services to online customers in Indonesia, Thailand and Malaysia, where it works with supermarkets and other retailers.

The funding will help the startup venture into Vietnam and the Philippines, expand business in the countries it services and boost synergy with Grab’s ride-hailing service, a Mirae Asset spokesperson said.

This marks a third investment made public from funding co-organized by investment bank-led financial group Mirae Asset and Korean internet giant Naver. It is preceded by a $150 million investment in Grab in August 2018 and $50 million in Indonesian e-commerce platform operator Bukalapak in January this year.

Mirae Asset-Naver Asia Growth Fund is evenly funded by Mirae Asset Group and Naver. It is managed by Mirae Asset Capital, a credit finance arm of Mirae Asset Group.

By Son Ji-hyoung (consnow@heraldcorp.com)