Bangkok-based agritech startup Freshket has raised US$3 million in Series A funding round.The round of funding was led by Openspace Ventures a Singaporean VC with ECG-Research a PE firm based in Thailand and Innospace.
Other investors who patronized the round include Pamitra Wineka and Ivan Sustiawan (who co-foundered Indonesian agritech startup Tanihub), existing investors Denis Asia Pacific (French/Singaporean food conglomerate), and Thai family office Seedersclub.
According to Co-founder and CEO Ponglada Paniangwet, the fresh funds will enable “Freshket to upgrade technologies, enhance efficiencies in our supply chain management and improve our customer service platform. Our planned technology investments will enable us to scale rapidly and move further upstream in the supply chain.”
Freshket was started by Paniangwet and Tuangploi Chiwalaksanangkoon in 2017, the startup is an e-commerce marketplace that brings together farmers and food processors to supply fresh produce to B2B and B2C customers in Thailand.
Hian Goh, Founding Partner of Openspace Ventures, said: “Freshket is addressing a massive market opportunity and is positioned at the intersection of Thailand’s agriculture and food & beverage sectors. We will help the company further develop digital technologies to facilitate growth for farmers, food companies, and restaurants alike.”