Vertex, Sinar Mas lead round for Indonesia's HappyFresh

Asia Venture Group, Beenext, Ardent Capital, 500 Startups, and Cherry Ventures also participated in the round, according to a statement. The company will use the new funds to continue expanding in Southeast Asia and to enhance its product and service offerings.

HappyFresh, founded in 2014, partners with retail chains and employs personal shoppers to fill orders filed through its mobile app. It launced its next-hour delivery service in Indonesia and Malaysia in March, and has since added operations in Thailand and Taiwan. The company plans to launch in the Philippines in October.

There are few other online grocery start-ups operating in Southeast Asia so far. One of the most successful has been RedMart, which was founded in 2011 in Singapore. RedMart has raised $54 million total since its founding, including a $26.7 million bridge round in  August.

Singapore-headquartered Vertex is the venture capital arm of Temasek Holdings. It supports start-ups across Asia in a wide range of industries. Previous technology investments include leading a $30 million round in 2014 for Chinese cross-border e-commerce platform Metao, and leading a round of an unspecified amount earlier this year for online parenting portal theAsianparent.

Joo Hock Chua, managing director at Vertex, will join the board at HappyFresh.

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• Topics
• Southeast Asia
• Consumer
• Technology
• Expansion
• Venture
• Indonesia
• Southeast Asia
• Technology
• TMT
• Consumer
• Growth capital