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Endeavor Entrepreneur company HappyFresh, founded by Markus Bihler, announced the successful signing of a funding round with Samena Capital — a principal investment group focusing on the Subcontinent, Asia, Middle East and North Africa — leading a strong consortium of new and existing investors including Vertex Ventures, the venture arm of Singapore-based Temasek group, and Sinar Mas Digital Ventures, the early stage investment arm of Sinarmas Group of Indonesia. HappyFresh is Southeast Asia’s leading online grocery company. This funding round also featured participation from Endeavor Catalyst.
“The enthusiasm and support of the Endeavor team — here on the ground in Jakarta and across the globe — is infectious,” commented HappyFresh CEO Markus Bihler. “More importantly, the team delivers real value and already has to my team and to me personally. We look forward to giving back to the Endeavor community.”
The investment will enable HappyFresh to continue its focus on building a sustainably profitable company. To that aim, the company will concentrate on its three primary markets in Indonesia, Malaysia and Thailand. This current funding round of HappyFresh follows the earlier USD $12 million fundraising the company had completed in September 2015, which was one of the region’s largest Series-A rounds, led by Vertex Ventures and Sinar Mas Digital Ventures.
Headquartered in Jakarta, HappyFresh was established in October 2014 and has been operating since March 2015. The company’s management team brings together a wealth of e-commerce and regional experience and is positioned as an on-demand delivery player focused on fresh groceries.
The first service of its type in Indonesia, HappyFresh enables consumers to shop at their favorite grocery retailers via mobile and web platforms. By limiting the radius of their coverage, HappyFresh is able to ensure that all orders can be delivered within an hour. HappyFresh was recently selected at Endeavor’s 65th International Selection Panel in Bali in July 2016. Bihler has been working with Endeavor Indonesia for more than one year, receiving key mentoring services from the Endeavor network, including connections to top investors and introductions to industry experts. This round marks Endeavor Catalyst’s 39th investment to date. Read more about HappyFresh by clicking here.
Endeavor Catalyst is the innovative co-investment fund of Endeavor, set up to invest exclusively in Endeavor Entrepreneur-led companies and to sustain Endeavor’s long-term operations in a mission-aligned way. Since launching in January 2012, Endeavor Catalyst has raised $35M in philanthropically donated and invested capital, and invested into 40 Endeavor companies in 15 countries. To date, Endeavor Catalyst has co-invested alongside a number of leading venture capital and growth equity funds, including Accel Partners, General Atlantic, NEA, Sequoia Capital and Tiger Global. Investments include Globant (NYSE: GLOB) in Argentina; Yemeksepeti.com (acquired by Delivery Hero) in Turkey and Ruma in Indonesia.
Learn more about Endeavor Catalyst by clicking here.
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