SALADSTOP! CLOSES SGD12M SERIES B INVESTMENT ROUND LED BY TEMASEK
November 15, 2021
SINGAPORE, Nov. 14, 2021 /PRNewswire/ -- SaladStop! Group ("SaladStop!" or "the Group"), the first and largest healthy food chain in Asia, today announced the closing of a SGD12 million series B investment round, featuring some of the most prominent investors in the region. The round, which was oversubscribed, was led by Temasek with participation from new investors Vulcan Capital, K3 Ventures, and East Ventures. Existing investor DSG Consumer Partners also participated in the round.
SaladStop! is the first and largest healthy food chain in Asia. It is a family business founded in 2009 in Singapore and currently operates 69 outlets across eight markets (Singapore, Hong Kong, Indonesia, Vietnam, Philippines, Japan, Korea, and Spain), with over 800 employees. SaladStop! Group has four brands: SaladStop! Heybo, Wooshi and Good Food People. The Group is backed by Temasek, DSG Consumer Partners, Hera Capital, Vulcan Capital, K3 Ventures and East Ventures.
The SaladStop! Group today is already impacting 3.5 million people a year, offering them nutritional transparency and climate-positive choices. SaladStop! aims to become the leading personalized nutrition company in Asia through the extensive deepening of the Group's existing footprint via new cloud kitchens, fostering more tech-enabled growth with its proprietary technologies, and leveraging its deeply embedded ecosystem of food-tech partners.
Fundraising proceeds will be used to continue to accelerate the Group's digital transformation including its investment in proprietary technologies. At the same time, the new funding will be deployed to deepen the Group's expansion across Asia, enabling it to scale operations adding four new countries by 2025, and building out into second tier cities through the continued expansion of its cloud kitchen model. This will enable the Group to leverage its newer health food brands Heybo and Wooshi, at lower price points, and offer many more customers access to nutritious food at affordable pricing.