Grain, a Singapore-based online food company, raised US$10m in Series B equity and venture debt funding.
The round was led by Singha Ventures with participation from new investors Genesis Alternative Ventures, and Sassoon Investment Corporation (the family office of the Sassoon family, shareholders of The Coffee Bean & Tea Leaf), K2 Global, FoodXervices and Majuven and returning investors Openspace Ventures, Raging Bull (founded by Ivan Lee) and Cento Ventures.
The company intends to use the funds to build infrastructure to support revenue of US$100 million and ramp up growth in Singapore.
Led by CEO Sung, Grain is an online food company offering everyday meals and catering services featuring chef-crafted meals made with fresh and wholesome ingredients.
The company leverages data and a tech-enabled distribution network to serve food to customers.