Platforms Featured Southeast Asia

South Korean grocery app Market Kurly to enter SG via RedMart tie-up

Singapore – South Korean grocery app Market Kurly is entering the Singapore market via a tie-up with local online grocery service RedMart, Bloomberg first reported.

According to the report, Singaporeans will be able to buy Market Kurly’s ready-to-cook and ready-to-eat meals via the app. The initial launch is composed of 44 products, ranging from frozen snacks and Korean-style cold soba from Gwanghwamun Mijin, a decades-old restaurant in Seoul.

Speaking to Bloomberg, Sophie Kim, CEO at Market Kurly said that the initial product lineup will be gradually expanded to chilled food and possibly non-food daily products in the future.

“Singapore is a melting pot of culture and food. Lazada and RedMart’s nationwide reach allows us to tap their expertise and skills, and the ability for us to use that data for future product roll-outs,” Kim said.

This marks Market Kurly’s first overseas expansion since it was first established in 2015. It has attracted around KRW1b in investment during its IPO. Some of its investors include Millennium Management, Sequoia Capital China and Hillhouse Capital.

Platforms Featured Southeast Asia

SariSuki bags US$7.1m funding, to expand to quick commerce

Manila, Philippines – Local social commerce startup SariSuki has successfully raised US$7.1m, aimed at driving the startup’s expansion into the quick commerce scene. The funding round was led by Openspace, Susquehanna International Group (SIG), Global Founders Capital (GFC), Saison Capital, JG Digital Equity Ventures, and Foxmont Capital Partners.

In total, SariSuki has earned a total of US$10.5m in funding. Furthermore, the new funding will be used to increase the business’ product assortment, dark warehouses, and geographic expansion.

The startup is founded by Bam Mejia as chief commercial officer, Philippe Lorenzo as chief operating officer, Angelo Lee as head of strategy and fundraising and Brian Cu as chief executive officer. For SariSuki, hyper-convenience is a key strategy in breaking down more barriers to e-commerce adoption and creating an end-to-end e-grocery platform.

Cu said, “We are a set of founders that grew up in the Philippines and have an understanding of our market. This, combined with our background in scaling up large tech companies in the region, made us realise that we can do more with the supply chain infrastructure we have built. Quick commerce is a way for us to expand into serving the segment of our market that seeks hyper-convenience for a hyper-local product mix for their daily needs.”

SariSuki started in 2021 with a mission to empower communities with more options to shop for high quality groceries online – which it achieves by buying fresh produce in bulk from local farmers and offering them to the local community at a discounted price.

To address long-existing supply chain inefficiencies, SariSuki adopts an agent-assisted model, servicing its consumers through ‘Community Leaders’. Members of communities who set up their business as a ‘Community Leader’ see meaningful income expansion as they profit from selling produce whilst performing the last mile fulfilment. This model has enabled SariSuki to offer supermarket quality products at wet market prices.

Platforms Featured Southeast Asia

Metro Retail Stores accelerates e-commerce, to launch official store in top platforms

Manila, Philippines – Fast-leading retail company, Metro Retail Stores Group Inc. (MRSGI) in the Philippines, has unveiled its roster of initiatives to boost its e-commerce presence. 

The company targets to launch its official store in e-commerce apps Lazada and Shopee in the fourth quarter to take advantage of the expected holiday shopping surge.

“All these developments we are doing are in line with our commitment to grow our e-commerce business and ultimately enable us to continue meeting the changing customer demands in today’s digital environment,” said Manuel C. Alberto, president and chief operating officer at MRSGI.

For its supermarket vertical, MRSGI is looking to expand its reach by adding multi-service superapp GrabMart to the list of their on-demand goods delivery service partners. Metro Supermarket customers in select areas of Metro Manila and Cebu can purchase from an assortment of more than 3,500 goods and have these delivered to their homes through the Grab app.

At present, Metro Supermarket in Ayala Center Cebu and Market! Market! in Taguig have this convenient arrangement, and plans are underway to include six more stores to join GrabMart before the year ends.

MRSGI is also working to integrate its Metro Rewards Card with customers’ Metro online accounts, allowing loyalty cardholders to earn points for all purchases made from and even use accumulated points to pay for their online purchases.

In addition, the company is on track to introducing a Progressive Web App (PWA), which is considered more efficient and convenient as they have reduced memory requirements and battery usage, and are expected to load faster and provide better navigating experience for users.

“Our customers can look forward to a more exciting and pleasant online shopping experience. We have lined up a number of strategic initiatives that are geared towards making e-commerce an important component of MRSGI’s overall value proposition,” said JJ Moreno, chief strategy officer and head of e-commerce at MRSGI.

Platforms Featured Southeast Asia

Digital agri market platform is PH’s agri & trade departments’ latest endeavor

Manila, Philippines – The Department of Agriculture (DA) and the Department of Trade and Industry (DTI) have recently collaborated in pushing a digital market platform that is based on an end-to-end system between farmers and consumers.

The platform is called Deliver-E, and allows buyers to directly access agricultural products and other basic food items. As the system eliminates middlemen, products are sold fresh at low prices.

In a press statement, DA Secretary William Dar (depicted in the banner picture) pledged that the recent platform development is part of the department’s pledges for the agricultural sector, upscaling the agriculture value chain and improving overall food security in the country even beyond the COVID-19 crisis.

“With the sheer size of agricultural supply chains, only a multi-stakeholder approach to their management could free up the bottlenecks. This event sparks hope that many heads are coming together to assist key supply chain players with their technological needs and constraints. Online is the new byword of food security. We are fully embracing the digitalization of the agriculture sector as we journey towards the 4th Industrial Revolution, or Agriculture 4.0,” Secretary Dar stated.

Developed by tech startup Insight Supply Chain Solutions (InsightSCS), the platform has also received support from private sector partners, farmer cooperatives, and the United States Agency for International Development (USAID).

DTI Secretary Mon Lopez commented, “Let us try to create a Better Normal where all Filipinos can enjoy the fruits of our country’s inclusive growth and shared prosperity for all.”