500 TukTuks-backed Thai culinary startup Cookly closes pre-Series A

Thailand-based culinary startup Cookly announced that it has closed a pre-Series A round led by cryptocurrency Zcoin founder Poramin Insom.

The round was also joined by existing investor 500 TukTuks, who had invested in the startup’s seed round. Previous investors include telco giant Telenor Group’s dtac Accelerate.

In an email interaction with DEALSTREETASIA, a top executive with the startup said, it is also looking to close Series A by early next year or sooner.

The pre-Series A funding will be used to scale its business and further global expansion. Cookly also intends to make use of Zcoin’s technology in the future to facilitate borderless transactions.

“We strongly believe in the team and the huge market opportunity in food experiences,” said 500 TukTuks partner, Natavudh Pungcharoenpong.

Cookly co-founder and CEO, Benjamin Ozsanay: “We want to strengthen our market leadership and establish our global presence while building a more user focused product for an industry that shows tremendous growth and interest.”

“We [have] just recently expanded into China, and will be covering majority of tier-1 cities there. We’re looking to expand more in EMEA (Europe, the Middle East and Africa) and South America, and also cover markets like North America and Australia for local market penetration. The idea is to cover all major culinary destinations within 2018. We’ve already covered 90 per cent of them and the plan is to cover the remaining 10 per cent,” said Ozsanay.

Based in Bangkok and founded in 2015, the startup is a booking platform for cooking classes and culinary experiences in over 65 destinations across 23 countries.

Also read:

Japan’s culinary media startup Dely secures $27m investment

Singapore’s Sirius Venture backs $8m Series A in Israeli foodtech Genie Enterprise