Vietnam’s fresh farm food-to-table platform FoodHub raises seed funding
FoodHub, a startup that home-delivers fresh farm food in Vietnam, said today it has raised “up to hundreds of thousands of USD” in seed round of funding.
ThinkZone Accelerator, which has previously invested in the startup, acted as a funding connector and consultant in the current round. It is not clear if ThinkZone has also joined the new round.
When contacted, FoodHub declined to share the details of the investors and transaction.
The funds will be used to scale FoodHub’s business with a focus on Vietnam’s Northern market and to further promote its supply chain growth.
“After validating FoodHub’s product fit, it is time for us to accelerate and scale up. And we have been fortunate to meet a very suitable strategic investor, with not only a supplement of financial resources but also many other core competencies. The two parties have agreed on a roadmap to cover Vietnam’s Northern market right this year,” said Vinh Nguyen, Founder of FoodHub.
Launched in 2019, the startup aims to help customers buy fresh farm food via a mobile app easily and quickly.
According to the company, organic food market has been wholly neglected by the Vietnamese e-commerce platforms because of its distinctive characteristics, such as short shelf-life, complex packaging standards, difficulties for storage and non-uniformity in quality.
However, FoodHub claims to have grown its customer size more than three times since launch, primarily during COVID-19.
Beenext leads US$13.3M Series B in logistics startup Loadshare
India-based B2B logistics-tech firm Loadshare has raised US$13.3M from Singaporean venture capital fund Beenext, according to VCCircle.
The Series B funding round saw additional participation from Matrix Partners, Stellaris Venture Partners, and Alteria Capital.
The new round of investment will be used to expand its network and enter sectors such as pharmaceuticals, fast-moving consumer goods and grocery for delivery of essentials.
Founded in 2017, Loadshare offers technology-based solutions for small to medium business owners in logistics, including access to customers, guidance on business development, branding and operational know-how.
India’s e-commerce giant Flipkart names new CFO
India’s e-commerce giant Flipkart has confirmed Sriram Venkataraman as its new chief financial officer (CFO), according to The Economic Times.
In his new role, Venkataraman will be responsible for key finance operations and functions at Flipkart and Myntra, including tax, risk management and treasury.
Emily McNeal, who preceded Venkataraman, has decided to return to the US to pursue a career opportunity outside the Walmart Group, according to a statement.
“Sriram has consistently demonstrated his expertise managing several diverse functions at Flipkart and is well poised to take on the responsibilities as Flipkart Commerce CFO. We thank Emily for her leadership and guidance in strengthening the governance process and financial reporting at Flipkart post the Walmart investment,” said Flipkart Group CEO Kalyan Krishnamurthy.
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Image Credit: Blair Fraser, Beenext
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