FoodTech

Vietnam-based business to business (B2B) food sourcing platform KAMEREO announced Wednesday that it has raised $2.1 million in Pre Series B funding. The round is co-led by Reazon Holdings, Inc., Quest Ventures, and Thoru Yamamoto, Chief Executive Officer of FOODISON, B2B seafood supply chain company listed in Japan.

Elevate Foods, a Singapore-based platform for small- and medium-sized farm-gate processors, has announced the successful closure of its pre-seed funding round at $525,000, led by climate-focused investors Wavemaker Impact (WMi).

Singapore-based UMAMI Bioworks and Shiok Meats have announced the proposed merger of the two cultivated seafood pioneers, establishing the combined entity as a global leader in the burgeoning cultivated seafood market.

South Korea’s private sector-led shared research lab S&S Lab (the operator of IRIS Lab) has announced its latest strategic partnership with Singapore innovation ecosystem enabler Farquhar VC (FVC), to foster and deepen relations among Korean and global novel food and biotech startups.

Delivery Hero SE, Germay-based local delivery platform, has on Wednesday announced that it has terminated discussions with the main negotiating counterpart regarding a potential sale of its foodpanda business in selected Southeast Asian markets covering Singapore, Malaysia, the Philippines, Thailand, Cambodia, Myanmar and Laos.

Southeast Asia’s total food delivery spend on platforms grew a modest 5 percent year on year to reach $17.1 billion in 2023, mirroring the growth rate observed in 2022, Momentum Works said Tuesday. The growth was driven primarily by the region’s smallest food delivery market, Vietnam (+27 percent), followed by Malaysia (+9 percent).

Malaysian-based food startup Meals in Minutes has on Wednesday announced that it has successfully secured $1.5 million in a seed round. The round is led by an early-stage venture fund and seed accelerator, 500 Global, with participation from a private investor.

Gogoro Inc., a Taiwan-based technology player in battery-swapping ecosystems, has partnered global online food ordering and delivery platform Uber Eats for Green Delivery Program worth nearly $30 million. The program will make it easier and more affordable for Uber Eats delivery partners to switch to electric scooters.

Singapore-based cultivated meat company Meatiply has secured $3.75 million in the first close of its seed funding round. The round is co-led by existing investor Wavemaker Partners and AgFunder, with participation from SEEDS Capital, the venture investment arm of Enterprise Singapore.

Momentum Works, a venture outfit, estimated Foodpanda's Southeast Asia GMV at $3.1 billion in 2022. According to the same report, Foodpanda ranked second by market share in Singapore, Malaysia and the Philippines, and third in Thailand in 2022.