Vietnam’s food service startup Foody raises Series B funding from Singapore’s Garena

Visual from Foody website

Vietnam-based food service firm Foody Corporation, a portfolio company of Japan’s Cyberagent Ventures, on Tuesday announced that it has secured series B investment from Singapore consumer Internet company Garena.

The funding from this round will be used to accelerate growth in the number of users, content and to speed up the table booking and delivery service, as well as expand to other Southeast Asia countries, the company said in a statement. Foody also has a presence in Indonesia.

This is the third round of investment for the startup. In 2012, Foody raised a seed round from CyberAgent Ventures, which later (in 2013) co-invested in an undisclosed series A round together with Pix Vine Capital Investment, .

Ho Chi Minh City-headquartered Foody is currently operating www.foody.vn – a gourmet search and user review media, www.tablenow.vn – a table booking service, and www.deliverynow.vn – a food delivery platform.

Foody.vn was launched in August 2012 as an online gourmet search and review media. One month following the launch, the company acquired an older peer Vnnhahang.com.

Earlier this year, the startup added new categories into its website including travel, beauty, healthcare, shopping, education, and wedding service.

While its table booking service is available in three major cities of Vietnam: Hanoi, Da Nang and Ho Chi Minh City, the food delivery platform was launched in Ho Chi Minh City, and is in progress to make its way to the other two cities.

Less than three years after launching, Foody.vn has become a dominant player in the local market. As an online gourmet review media, it has more than 115,000 POIs (points of interest), 275,000 reviews, some eight million monthly visitors and 500,000 app downloads.

During Foody’s  first funding round, Cyberagent Ventures’ head of Vietnam and Thailand, Dzung Nguyen, had said that the VC firm decided to invest and lead Foody to the leading position, as there was no clear market leader in the category then.

Also read:

Exclusive: Cyberagent Ventures leads series A funding in Vietnam’s bus ticket platform Vexere.com

Cyberagent Ventures to launch $50m second Southeast Asia fund with focus on Indonesia

Exclusive: Korea’s Yello Digital Marketing invests in Vietnam’s marketing platform CleverAds

Exclusive: Vietnam-based price comparison site Websosanh ‘joins’ Yello Mobile Group co YSM

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.