DMP, Thai Express Founder Ivan Lee, and Odette Founder Wee Teng Wen have also co-invested in Grain
DMP, and Ivan Lee (who founded and sold Thai Express), have also returned to co-invest in this round, along with new investor Wee Teng Wen of the Lo & Behold Group — owner of popular food concepts, including OverEasy, The White Rabbit, Loof, and Michelin-starred Odette.
Concurrently, Grain has also raised an undisclosed amount in venture debt from DBS Bank.
The capital will be used to expand production capacity, build more mobile distribution hubs, and grow the team. The startup also plans to expand to other parts of Asia.
Launched in 2013, Grain provides on-demand hyper-personal wholesome food delivery services. There is no minimum order (unless you are out of the Hotzone), and the food is delivered to any location in Singapore.
What sets it apart from other food delivery companies in Singapore is that it maintains control over every part of the process from R&D and cooking, right up till the last-mile delivery. It has collaborated with the winners of MasterChef Asia and MasterChef France, as well as Michelin Bib Gourmand restaurants to develop dishes for their meal box menu.
In January this year, Grain raised a US$1.7 million Series A round led by NSI Ventures, with participation from 500 Startups, Ivan Lee, DMP, Koh Boon Hwee (Managing Director of GK Goh Holdings) and other undisclosed angel investors. Since this round of investment, it has doubled its revenue and is currently also serving major clients including Uber, Netflix, Twitter and Oldendorff on a recurring basis.
With the growth, Grain has also moved to a new 6,000 sq ft facility in April 2016.
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