Secai Marche co-founders Ami Sugiyama (L) and Shusaku Hayakawa
Secai Marche, a farm-to-table startup connecting farmers with restaurants and retailers in Southeast Asia, has secured an additional JPY 250 million (US$1.6 million) in its Series A funding round.
The round includes equity financing from Mitsui Sumitomo Insurance Venture Capital (MSIVC) and debt financing from The Shizuoka Bank and The Hokkoku Bank.
This follows a US$3.5 million Series A round of investment from investors, including Beyond Next Ventures, Spiral Ventures Asia, Mitsubishi UFJ Capital, Future Food Fund, Tsuneishi Shoji, Fukuoka Sonoriku, and Foodison co-CEO Toru Yamamoto, in August this year.
Secai Marche will use the newly raised funds to capitalise on the rapid growth of the e-commerce and food and beverage (F&B) industries in Southeast Asia. It plans to expand its fulfilment centres, use AI to enhance the accuracy of demand forecasts, automate and optimise last-mile deliveries, and carry out system development and marketing activities.
Established in 2019 by Ami Sugiyama and Shusaku Hayakawa, Secai Marche offers a platform for F&B businesses and retailers to purchase high-quality products directly from farmers and fishermen at competitive prices.
The firm enables vegetable producers to access demand forecast information and sell their products in small quantities. On the other hand, consumers can purchase high-quality, reasonably priced products from various producers in one place.
Secai Marche offers over 4,000 carefully selected ingredients from producers worldwide, including Japan and Malaysia. It focuses on fresh foods such as eggs, vegetables, fruits, and seafood.
The startup claims to have achieved 200 per cent year-on-year growth since its launch, which it attributes to its direct distribution network.
Yuko Shinohara, Manager of MSIVC, said: “With its optimised supply chain and fulfilment functions, Secai Marhce has realised freshness, low prices and convenience of buying fresh foods at the same time and rapidly increased its customers in Kuala Lumpur. We are confident that the business will grow further as a platform for exporting food products from Japan, as well as expected to have a social impact in reducing food loss and improving the income of local farmers in Southeast Asia.”
Also Read: How Secai Marche champions farm-fresh food in Southeast Asia
Early last year, the startup raised US$1.6 million from The Agribusiness Investment & Consultation, Spiral Ventures Asia Fund I, and Beyond Next Ventures.
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