Participated · Series C · Apr 2019

HappyFresh is an Indonesia-headquartered startup that operates an online grocery delivery service. The company is backed by Grab Ventures. According to regulatory filings accessed by DealStreetAsia – DATA VANTAGE, HappyFresh has raised $65 million in its latest funding round. The round is identified as a Series D. The article does not disclose operating metrics, revenue, user numbers, or detailed plans for use of proceeds. Launched in 2015, HappyFresh partners with supermarkets and other retailers to enable online grocery ordering with same-day delivery handled by its staff, targeting a one-hour window via website and mobile apps. The service is active in Indonesia, Thailand and Malaysia. The company says it has become profitable in the markets where it operates after a period of retrenchment and restructuring. HappyFresh plans to use new capital to double down on technology, including greater personalization for shoppers and more efficient logistics. Management also intends to resume careful, market-driven expansion into new cities where there is a clear path to long-term profitability. HappyFresh operates an on-demand grocery service in Southeast Asia, partnering with offline retailers and using personal shoppers to deliver orders—often within one hour—through mobile apps and web. The company monetizes via delivery fees (example: 60 THB in Bangkok), fees charged to retail partners, and an analytics/data business called HappyData. HappyData is already a profitable operation that provides retailers and brands with behavioral and purchase insights, promotions and advertising opportunities as part of the HappyFresh ecosystem. Global retailers such as Tesco and Carrefour are among its partners. The company employs nearly 1,000 staff and has recently exited Taiwan and the Philippines to concentrate on Indonesia, Malaysia and Thailand, a change that led to layoffs and some relocations. Management says its priority is to scale all revenue streams and make the overall company profitable, though it declined to disclose its profitability target. HappyFresh offers one-hour grocery delivery by partnering with physical retailers while using its own professionally trained shoppers and delivery teams to pick and deliver items. The service integrates with retail partners' backend systems and is building technology to load-balance inventory and personalize the shopping experience, including one-click repurchases and tailored offers. The company is developing a recipe platform called Happy Recipe that will integrate with its core product to provide meal inspiration. HappyFresh is live in Jakarta, Kuala Lumpur and Bangkok, recently launched in Surabaya and is planning to enter Taipei as it pursues pan‑Southeast Asia expansion. The startup reports consistent 100% month-on-month growth in each city and a very high proportion of return customers, though it declined to provide raw figures. It raised a $12M Series A to further develop its service, advance its technology and expand across the region.