SaladStop! Group eyes 4 new markets by 2025 with new SG$12m funding

SaladStop! group, a healthy food chain in Asia, has received SG$12 million in its series B investment which it plans to use to accelerate its digital transformation including its investment in proprietary technologies. The round was led by Temasek with participation from investors Vulcan Capital, K3 Ventures, and East Ventures; as well as existing investor DSG Consumer Partners. 

The funds will also be funnelled towards its expansion across Asia, enabling it to scale its operations with the addition of four new markets by 2025.  MARKETING-INTERACTIVE has reached out to find out what these markets are. The group also plans to build out into second tier cities through the continued expansion of its cloud kitchen model. This will enable it to leverage its newer health food brands Heybo and Wooshi, at lower price points, and offer many more customers access to nutritious food at affordable pricing, the group said.

According to the group, the COVID-19 pandemic accelerated its push to digital, with over 50% of sales today generated online and a substantial proportion through the group’s direct channels. Adrien Desbaillets (pictured right), CEO and co-founder of SaladStop! group, said the COVID-19 pandemic demonstrated the resilience of its business across all markets and accelerated the company’s push online. 

“Fuelled by innovative and proprietary technologies, a network of cloud kitchens and a new generation of transparent, tech-enabled and scalable health food brands, we are excited to be partnering with such strategic and value-aligned investors to dramatically scale the business to new heights," Desbaillets said.

Additionally, the group will accelerate its investment into food sustainability, focusing on ingredient traceability and opening of the group’s first net zero outlet in 2022.

Frantz Braha (pictured left), chief growth officer of SaladStop! group, said that, to achieve its ambitious growth strategy, it plans to deepen its roots in its existing markets, while also expanding its footprint in selected new countries. "We have built an extensive infrastructure across the region over the past few years and will continue to leverage our technological capabilities and proprietary cloud kitchen operating model to accelerate our growth in emerging markets. Today, we cater to an addressable market of 69 million people across 11 cities and aim to serve over twenty million meals by 2025," he added. 

Chief brand officer Katherine Desbaillets Braha (pictured centre) added that the group wants to drive change in the food industry, especially at this challenging time, given not only the effects of the pandemic on people’s health and wellbeing, but also with the current disruption on supply chains and the extraordinary threat posed by climate change.

The SaladStop! group was founded in 2009 with the aim of disrupting the traditional fast food model, and pioneering delivering healthy, nutritious menus to customers across Asia. The group currently owns brands such as SaladStop!, Heybo, Wooshi and GoodFoodPeople, across a hybrid online and offline model. It owns a total of 69 outlets across eight markets in the APAC region. 

The group aims to become the leading personalised nutrition company in Asia by deepening its existing footprint through new cloud kitchens, fostering more tech-enabled growth with its proprietary technologies, and leveraging its ecosystem of food-tech partners.