Indonesia s HappyFresh draws half of new funding from Korea
Naver-Mirae startup fund, LINE Ventures to make follow-on investments in the online grocery app By
(Courtesy of HappyFresh)
Indonesia s online grocery platform HappyFresh will receive another $33 million from South Korean investors, including the Asian startup fund of Naver Corp. and Mirae Asset Group and Naver s subsidiary LINE Ventures. The amount marked about half of the $65 million it is targeting in the latest funding round.
The Korean institutional investors is betting that the Jakarta-based startup would become the next Grab Holdings Inc., a Southeast ride-hailing app that is preparing for a Nasdaq listing later this year through a merger with a special purpose acquisition company.