HappyFresh bags US$20m funding, doubles down on tech and data

Indonesia-based online grocery platform HappyFresh has bagged a US$20 million in Series C funding, which will be used for both city and country expansion. The funding will also be invested in technology and used to grow the team in a number of specialist functions such as data science and omnichannel technology. According to the press statement, HappyFresh has its eye on new markets, where market dynamics and macro trends are favorable for its value proposition. The funding was led by Mirae Asset-Naver Growth Fund and Naver, with other strategic partners such as LINE Ventures, Singha Ventures and Grab Ventures. CEO Guillem Segarra said the company's primary focus lies in expanding its geo-footprint across the region, investing in the latest technology to drive innovation and hiring top tier talent to fuel that development. Segarra said that HappyFresh is committed to further developing the region's retail industry as a whole, drive social impact across the value chain and create entirely new job opportunities to enable the rapidly evolving consumer trends. “Moving forward, we will continue to invest in our technology and our data infrastructure. We believe that one of our advantages in the digital world is the ability to build highly efficient, personalised services and that's the direction," he said. Segarra added that HappyFresh has laid the foundations to lead in the data revolution and is pioneering the usage of machine learning algorithms and personalised experiences in grocery shopping. Last year, the online grocery platform picked Performics Singapore as its SEO agency across Indonesia, Malaysia, and Thailand. The win followed a pitch process with HappyFresh seeking a business partner to build upon its SEO and app store optimisation strength to support growth plans across the region.