Online food store Grain Expanding Rapidly
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Singapore-based online food store Grain has raised US$10 million in series B funding. The cash will be used to accelerate growth in Singapore, and expand into Thailand.
To do that, the company will be cooperating with Thailand’s Boonrawd Brewery group’s subsidiary Singha Corporation.
Singha will help Grain gain clearer insights into the target audience in Bangkok, and develop better products and services.
“Grain will work with Singha by using Singha’s extensive F&B network across the country, including logistics and distribution, to bring delightful innovations to consumers,” said Bhurit Bhirombhakdi, chairman of the executive board at Singha Ventures.
The collaboration between the two companies aims to help online food store Grain expand in Southeast Asia and realize its regional vision.
“We want to disrupt the F&B landscape and evolve with consumer preferences, but also have solid fundamentals,” said Yi Sung Yong, Grain’s co-founder and CEO.
Questions & Answers
Q.What is the primary purpose of the US$10 million funding raised by Grain?
What is the primary purpose of the US$10 million funding raised by Grain?
The US$10 million in Series B funding will be used to accelerate Grain's growth within Singapore. Also, it will fund the company's expansion into the Thai market, signifying a key part of its regional strategy.
Q.How will Singha Corporation assist Grain with its expansion into Thailand?
How will Singha Corporation assist Grain with its expansion into Thailand?
Singha Corporation will help Grain understand the Bangkok target audience better and develop improved products and services. They will also provide access to Singha's extensive food and beverage network across Thailand, including logistics and distribution, to support Grain's operations.
Q.What is Grain's broader ambition beyond its immediate expansion plans?
What is Grain's broader ambition beyond its immediate expansion plans?
Grain's broader ambition is to disrupt the food and beverage landscape and adapt to changing consumer preferences. The collaboration with Singha is intended to help Grain expand across Southeast Asia and achieve its regional vision.
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