Food
Singapore VC closes food tech fund at $34m
Singapore’s Good Startup, a food technology investor focused on alternative protein, has closed its debut VC fund with USD 34m in commitments.
Sequoia, Tiger, Alpha Wave invest $100m in India agtech player
Indian agriculture technology start-up Absolute Foods has confirmed USD 100m in recent funding from Sequoia Capital India, Tiger Global Management, and Alpha Wave Global at a valuation of USD 500m.
India grocery delivery start-up Zepto gets $200m
Zepto, an Indian grocery app that claims it can deliver food in 10 minutes, has raised a USD 200m round led by Y Combinator at a valuation of USD 900m.
Trustar buys China condiments supplier
Trustar Capital, formerly known as CITIC Capital Partners, has acquired China-based food condiments supplier Beijing Salion Foods for an undisclosed sum.
India’s Licious raises $150m at $1.6bn valuation
India’s Licious, a direct-to-consumer fresh meat and seafood delivery company, has raised a USD 150m round led by Amansa Capital at a valuation of USD 1.6bn.
Portfolio: Aspirant Group and Yamato Group
Improving cost controls and realising efficiencies underpinned Aspirant Group’s investment thesis for Japanese fish retailer Yamato Group, and they have helped the company withstand external pressures
Creador makes second SE Asia food investment in five months
Malaysia-based Creador has acquired a significant minority stake in local food industry supplier Custom Food Ingredients for an undisclosed sum as part of a category platform play.
Singapore's Next Gen Foods raises $100m Series A
Singapore-based Next Gen Foods, maker of vegetarian chicken brand Tindle, has raised a USD 100m Series A round featuring GGV Capital and Temasek Holdings’ Asia Sustainable Foods Platform.
Deal focus: Proterra’s alternative take on incubation
Early-stage bets on oat milk and healthy beverages in Asia by Proterra Investment Partners reflect a willingness to back nascent brands, but in doing so, the firm believes it is dialling down the risk
Korea's Envisioning Partners raises $64m climate tech fund
Envisioning Partners, a Korean impact venture capital firm set up last year, has raised KRW 76.8bn (USD 64m) for a climate-focused tech fund, beating a target of USD 60m.
Invesco leads $700m round for India’s Swiggy
Invesco has led a USD 700m round for India-based on-demand delivery platform Swiggy at a reported valuation of USD 10.5bn.
Indonesia coffee shop start-up achieves unicorn status
Indonesia coffee chain Kopi Kenangan has raised USD 96m in an ongoing Series C round at a valuation of at least USD 1bn. Hong Kong’s Tybourne Capital Management led the investment.
Flipkart, Walmart invest $145m in India's Ninjacart
Walmart and Flipkart, its Indian e-commerce platform, have doubled down on local fresh produce delivery company Ninjacart with a 145 million investment.
Australia food-ordering start-up raises $63m
Tiger Global Management has led an A$89 million ($63.4 million) Series A round for Australian food-ordering start-up Mr Yum. In the past 12 months, 44% of Australians have used the platform.
Deal focus: Serving biryani at scale
With biryani the dish of choice on India’s food delivery apps, Biryani By Kilo is looking to build out a standardized cloud kitchen model. It has $35 million in Series B funding to pursue this ambition
Deal focus: Orchestra delivers pizza to Seoul
Banolim has become Korea’s fourth-largest pizza delivery business largely on the back of savvy marketing and expansion in lower-tier cities. Orchestra Private Equity is supporting a rollout in Seoul
China's Bits x Bites closes second food tech fund at $100m
Bits x Bites, a Chinese VC firm focused on agriculture and food technology such as alternative protein, has closed its second fund at $100 million, beating a target of $70 million.
Centurium invests $100m in China caterer Meican
Centurium Capital has provided a $100 million Series E round for Meican, a Chinese corporate food services company.
East backs Singapore food surplus marketplace
East Ventures and Amasia have jointly led an $11 million Series A round for Singapore’s TreeDots, a company that describes itself as Asia’s first food surplus marketplace.
India grocery delivery player Zepto raises $60m
Zepto, an Indian grocery app that claims to deliver food in 10 minutes, has raised $60 million in its first institutional funding round with US-based Glade Brook Capital taking the lead.
Sofina, Lightrock lead $115m round for India's DeHaat
Sofina and Lightrock India have led a $115 million Series D round for Indian agricultural technology provider DeHaat. It is described as the country's largest-ever agtech round.
WestBridge leads $50m round for India's Fraazo
WestBridge Capital has led a $50 million round, comprised of a mix of debt and equity, for direct-to-consumer fresh produce delivery service Fraazo.
Australia's Liverpool Partners acquires coffee brand
Australian private equity firm Liverpool Partners has acquired a majority stake in Seven Miles Coffee Roasters, a branded coffee supplier to the local cafe segment.
Fund focus: Lever leverages spiking food tech appetite
The debut fund from Hong Kong’s Lever VC has tapped an infection point in global demand for food innovation. A mix of motivators for entering this space makes the hype feel less like a bubble