Food Market Hub Secures US$8.5 Million To Boost SEA Expansion

Food Market Hub, a cloud application platform founded in Malaysia that streamlines and automates back-end operations for F&B businesses, announced that it has raised US$8.5 million in an extended Series A+ round to finance further expansion and expedite growth.

The round was brought about due to significant investor interest, arising from both FMH’s rapid growth as well as an accelerated push to digitalisation in the F&B sector, thus bringing FMH’s total Series A funding to date to US$12.5 million

The round was led by Southeast Asia-focused venture capital firm AC Ventures Malaysia (backed by Malaysia’s Penjana Kapital fund), with participation from returning investors Go-Ventures, SIG and 500 Global, new investors East Ventures, Velocity Ventures and Capital Code, as well as other angel investors.

The funding will enable FMH to accelerate its expansion plans to Indonesia, penetrate deeper into the Malaysian market, and strengthen its presence in Singapore and Thailand by 2022.

“From our past experiences, it’s clear that our platform has helped many F&B businesses to successfully reduce their food cost and wastage. We’re also able to help them grow tremendously, especially during these tough times brought on by the pandemic.

We have observed significantly increased demand for the solutions we provide as more businesses realise the value of technology in enabling them to achieve greater efficiency – especially in today’s ever-evolving business climate,” says Anthony See, CEO of Food Market Hub.

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