The Jakarta-based startup is relying on micro-fulfillment, refrigeration, and last-mile, ‘in-time’ delivery – as well as its 1,000-plus farmer partners – to do it.
The US tech giant also said it’s building “robust temperature-controlled supply chain infrastructure” to preserve food quality and reduce waste.
The e-commerce company said it’ll re-invest its profits into a new ‘non-commercial’ initiative aimed at promoting agtech, digitalization, and rural development in China.
Zomato, which competes for the mantle of India’s top food delivery app with rival Swiggy, is reportedly valued at $12.2 billion post-IPO.
The South Korean startup will set up packing and warehousing facilities in 50 “strategic” countries while hiring to expand its engagement, fulfillment, and platform development teams.
Having overtaken e-commerce behemoth Alibaba on the active buyers front, Pinduoduo’s looking upstream at alt-protein and logistics tech, its sustainability head tells AFN.
The tech-enabled ‘grab n’ go’ restaurant was valued at $1.5 billion at the time of its last publicly announced funding round in September 2019.
Both companies source fresh produce from farmers and agribusinesses and deliver it to consumers, who can order groceries through a mobile app.
The deal will see VinCommerce partner with the Chinese tech giant’s Lazada platform to build an e-grocery service in the country.
Gojek edges Singapore-based rival Grab – which is in the midst of its own $40 billion SPAC merger – as Indonesia’s most popular food delivery app.
Dingdong Maicai said it will use the funding for regional expansion, enhancement of its fresh produce supply chain capabilities, and to hire more personnel.
The Singapore-based app claims to be the category leader for online food delivery, ride-hailing, and digital payments in Southeast Asia.
Swiggy also secured investment from sovereign wealth funds Qatar Investment Authority and Singapore’s GIC, according to an internal memo.
Pinduoduo served 788 million annual active buyers in 2020 – the first time it has overtaken Alibaba in user numbers.
Rakuten, Japan’s top e-commerce company, entered into a strategic alliance with Walmart in 2018 which saw the pair launch the country’s leading e-grocery service.
The Toronto-based startup is hoping to digitalize an antiquated industry that relies on middlemen to broker deals between buyers and sellers.
TenderCuts is the first consumer-focused investment by the VC arm of state-owned agricultural bank NABARD, the fund’s CEO Rajesh Ranjan tells AFN.
“We are excited to accelerate Seiyu’s digital transformation […] to become Japan’s leading omnichannel retailer,” said new CEO Tsuneo Okubo.
Grofers is reportedly targeting a ‘reverse merger’ that would value it at around $1 billion after negotiations with prospective buyers hit a dead end.
The Mexican e-grocer announced its $65m Series A led by General Atlantic this week, the biggest Series A round in Latin America for a decade.
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