<article>Hong Kong-based food delivery startup, Plum has ceased its operations in Singapore.</article>

Hong Kong-based food delivery startup, Plum has ceased its operations in Singapore.
According to an email Plum sent its customers: “It is with great sorrow to announce that we are ceasing our operations in Singapore from 21st January. Plum would like to thank you for your past support and going on this wonderful journey with us. We would not have achieved what we had without you. Best wishes to the year ahead.”
Plum&#8217;s closure highlights stiff competition in Singapore&#8217;s food delivery market, which has several players battling for market share such as GrabFood, FoodPanda, Deliveroo and Honestbee. Hawker food delivery service, Fastbee shut operations last August after it failed to secure fresh funding.
According to a Channel NewsAsia report, Plum itself had been operating in Singapore for less than a year. Last November, Plum sacked its entire Hong Kong team in order to to &#8220;right size&#8221; its operations to a more sustainable business model.
Food delivery is expected to be a key battleground for Grab and Go-Jek this year, as the two platforms lock heads across Southeast Asia.
Last December, DEALSTREETASIA exclusively reported that Grab was seeking to raise up to $5 billion in an expanded Series H round. The Singapore-based platform will invest $2 billion of that capital in GrabFood and GrabPay.
Meanwhile, arch-rival Go-Jek has been rolling out its food delivery arm in new markets. The Indonesian-headquartered firm launched the pilot version of Go-Food in Vietnam last month, and expects to do so for its other new markets soon.
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Plum's closure highlights stiff competition in Singapore's food delivery market, which has several players battling for market share such as GrabFood, FoodPanda, Deliveroo and Honestbee.

HK-based food delivery startup Plum ceases operations in Singapore

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HK-based food delivery startup Plum ceases operations in Singapore

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