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November 15, 2021

Singapore’s SaladStop! Group concludes funding round led by Temasek

The investment will be used to expand the company's presence in four new Asian markets by 2025.

Singapore-based healthy food chain SaladStop! Group has raised $8.8m (S$12m) in a Series B investment round that will provide support for its digital transformation.

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The oversubscribed round was led by Temasek and joined by new investors, which included Vulcan Capital, K3 Ventures and East Ventures.

In addition to the new investors, DSG Consumer Partners, an existing investor, also participated in the investment round.

Established in 2009, SaladStop! Group has four brands, namely SaladStop!; Heybo; Wooshi; and GoodFoodPeople, which operate using a hybrid online and offline model.

The chain currently operates 69 outlets in seven countries across the Asia Pacific (APAC) region, namely Singapore, Hong Kong, Indonesia, Vietnam, the Philippines, Japan and Korea.

The chain has also established its presence in the Spanish market.

Proceeds from the latest funding round will be used for investment in proprietary technologies, as well as to expand the company’s presence into four new Asian markets by 2025 and enhance its Cloud kitchen model across second-tier cities.

The company also plans to focus its investment on food sustainability, ingredient traceability and the aim of opening its first net-zero outlet in 2022, which will support Singapore’s 30×30 goals.

SaladStop! Group co-founder and CEO Adrien Desbaillets said: “Our mission is to shape the future of food in Asia and to ensure that healthy food is convenient and accessible to everyone. This fundraising round is a major milestone for us.

“Fuelled by innovative and proprietary technologies, a network of Cloud kitchens and a new generation of transparent, tech-enabled and scalable health food brands, we are excited to be partnering with such strategic and value-aligned investors to dramatically scale the business to new heights.”

Free Report
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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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