The FoodTech companies are constantly innovating; with new technologies in the market to new techniques in distribution and automation to creating new super-foods which are not only healthy but satiate taste buds as well.
Here are the top 5 FoodTech companies in Asia that will lead the way in 2021.
Founded in 2014, Grain a Singapore-based platform uses a tech-enabled network and data to deliver food to customers. The company prepares its dishes and offers a unique twist in its menu. The company rotates its menu weekly so that its customers won’t get bored of the choices while keeping the prices affordable. Grain is funded by many investors including Singha Ventures, OpenSpace Ventures, K2 Global and more.
Swiggy, an India-based FoodTech platform offers foodservice solutions to restaurants. The company’s food delivery platform lists local restaurants and menu lists on its app for consumers to order from and track delivery thus enabling users to order food with convenience and speed. Swiggy also offers pick up and drop off service for an array of items including document, laundry, and parcel deliveries to retail and corporates at a charge. The company was founded in 2014 by Sriharsha Majety, Nandan Reddy, and Rahul Jaiminiin and is headquartered in Karnataka. Swiggy managed to raise $43 million to expand its business in April 2020. The company this year is in talks to close $700-800 million funding led by Qatar Investment Authority along with GIC Singapore as well as Falcon Edge.
Another big player in the Indian FoodTech industry, Zomato an online restaurant guide and a food delivery platform that allows its users to order meals from restaurants and have them delivered. The app provides detailed information about the restaurants which allows users to discover, review and rate restaurants. The users can also create their network of foodies for trusted recommendations. The company was founded in 2008 by Deepinder Goyal, Pankaj Chaddah, and Gaurav Gupta and is backed by investors such as- Temasek, Tiger Global, Bailie Gifford, Luxor, Kora, Fidelity, D1 Capital, Steadview, Mirae, and Ant Financial. In Feb 2021, the company has raised $250 million in funding from Kora, Tiger Global, and others taking its valuation to $5.4 billion.
Founded in 2018, Singapore-based Shiok Meats cell-based meat company. The company’s mission is to bring clean, healthy, and delicious meats and seafood by harvesting from cells instead of animals. Shiok Meats offers meats that are health, environment, and animal friendly with same taste & texture, more nutrients, and no cruelty. Last year, the company managed to raise $17.2 million in funding from Aqua-Spark, other investors include SEEDS Capital. The company is using these funds to build in Singapore a first-of-its-kind commercial pilot plant from where it plans to launch in 2022 its minced shrimp product.
Hunger Box, founded in 2015 is a full-stack B2B food and beverage technology company that provides food solutions for corporates. The platform allows employees to order food and get delivery service for corporate events and for office. The company aims to provide employees a technology-driven food experience that is healthy and safe. The Bengaluru, India-based Company raised INR 11.97 crore from its existing investors including One97 Communications Ltd, Srihari Kumar- a Singapore-based investor, and Pratithi Investment Trust in August 2020.
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