LINE MAN Wongnai and LINE Company (Thailand) Limited have acquired the shares of Rabbit LINE Pay Company Limited (RLP) from its previous shareholders, RabbitPay System Company Limited and Advanced mPAY Company Limited. The companies revealed the collaboration in a joint statement released on Thursday. This acquisition integrates RLP’s payment services more deeply within the LINE […]

Indonesian hyperlocal online F&B startup UENA has announced raising an undisclosed amount in Seed funding led by East Ventures and backed by IDN Media and angel investors. UENA, founded by Alvin Arief and Roy Yohanes, targets to continue the expansion in Jakarta to reach many more customers and serve their daily food necessity. The founders […]

After receiving controversy on social media over its ambitions to start quick 10-minute meal delivery, India’s online food delivery giant Zomato was obliged to clarify its delivery partners’ road safety. Deepinder Goyal, the founder of Zomato, took to social media to make things clear. He said there are no consequences for delivery times and no […]

Licious is a direct-to-consumer (D2C) meat firm that has raised $150 million in finance. The funding round comes 6 months after the firm received the status of being a unicorn. Amansa Capital, together with Kotak PE and Axis Growth Avenues AIF-I, led this fundraising round. Angel investors such as Nithin and Nikhil Kamath of Zerodha, […]

Grab Holdings, Southeast Asia’s largest superapp, has finalized the acquisition of a majority stake in Malaysia’s top mass-premium supermarket chain Jaya Grocer Holdings. The two companies intend to collaborate to provide more Malaysians with the convenience of on-demand grocery delivery. Grab and Jaya Grocer have also recently announced the expansion of GrabPay and GrabRewards to […]

The retail arm of Reliance Industries Ltd. has invested US$240 million for a 25.8% stake in India’s online food delivery platform Dunzo to get a foothold into the rapidly emerging market of superfast dispatch of household products. The onset of the COVID-19 pandemic has led to a boom in demand for services like Dunzo and […]

Singapore-based healthy food chain startup SaladStop! has recently raised US$8.7 million in a Series B funding round led by Temasek Holdings. The funding round was joined by other investors including K3 Ventures, Vulcan Capital, and East Ventures, and returning investor DSG Consumer Partners. According to the startup’s filings with Singapore’s ACRA (Accounting and Corporate Regulatory […]

India’s direct-to-consumer fresh meat brand Licious has raised $52 million in a funding round led by IIFL Asset Management Late Stage Tech Fund. This makes Licious the first D2C startup in the country to attain unicorn status. The exclusive financial advisor to Licious for this transaction was Avendus FLF who also participated in this financing […]

Hometaste, a Malaysian home-cooked meals delivery platform, has successfully raised RM2,410,317 ($576,000) via Malaysia’s leading equity crowdfunding (ECF) pitchIN platform. The funds raised will be used to scale Hometaste as a data-driven multi-brand cloud kitchen operated via tech-enabled channels with a target to open 70 cloud kitchens by 2023 in Malaysia and eventually expanding beyond […]

FoodTech platform Zomato recently announced that it is closing down its pilot online grocery delivery business due to gaps in order fulfillment that has led to poor customer experience. However, the company will carry on with its B2B essentials and grocery delivery services to restaurants through Hyperpure. This is the second time in two years […]