Malaysia-based Supplybunny, an online food and beverage (F&B) supplies marketplace, today announced the completion of RM1.2 million (US$300,000) seed investment, led by Shanghai-based venture capital firm Gobi Partners.
Supplybunny will use this investment to establish local teams and enhance marketing efforts.
“Supplybunny is starting out within Klang Valley (in Malaysia), linking up over 1000+ restaurants and cafes with local suppliers. The nature of our business is such that majority of purchases are localised. The scope of this investment round is to facilitate this vision within Klang Valley,” said Tham Kengyew, CEO of Supplybunny, when contacted by e27.
The startup, which was launched in June 2016, enables restaurant and cafe owners to source and order supplies in a transparent marketplace setting. Items available through Supplybunny include fresh produce, meat, seafood, sauces, beverages, equipment, utensils and more.
For suppliers, Supplybunny helps them streamline business operations by helping to set up an online presence, attract new customers and manage billing/payments.
Supplybunny has also tied up an exclusive partnership with Offpeak, a Gobi Partners’ portfolio company. Under the terms of the partnership, Offpeak will introduce its existing base of over 1,600 partner restaurants in Malaysia to Supplybunny’s platform.
“As a dedicated marketplace for F&B supplies, Supplybunny adds significant value for restaurateurs by enabling them to order all of their F&B supplies on a single platform, online – thereby saving time and eliminating hassle from having to contact multiple suppliers at a time. Gobi Partners has a lot of experience in the online-to-offline food industry in both China and Southeast Asia, and we’re excited to learn from them,” said Tham.
“We have further ambitions to be a regional player, following the restaurant footprint of our partners in Offpeak and will be raising subsequent rounds for that purpose,” he concluded.
Founded in 2002, Gobi Partners is headquartered in Shanghai, and has six offices across China, Hong Kong, Singapore and Kuala Lumpur. The firm has raised eight funds to date, and has invested in over 150 portfolio companies across China and ASEAN.