Singapore foodtech firm Zeemart bags $5.2m in seed round to fuel regional expansion

Their platforms are designed to simplify F&B procurement.

Zeemart, a Singaporean B2B tech startup that serves F&B businesses, announced that it has raised SGD 7 million (USD 5.2 million) in a seed round led by Indonesian investment firm Kresna Graha Investama.

The company’s clients are chiefly in the hotels, restaurants, and catering industry. Zeemart digitizes their procurement process, offering an app that allows businesses to manage every stage between sourcing and invoice management, as well as vendor collaborations.

Zeemart was founded in 2017. That year, it secured SGD 2.2 million in angel funding from Sheng Siong, one of Singapore’s largest supermarket chains, as well as KPISOFT, which produces cloud-based enterprise performance management software. Zeemart currently operates in Singapore, Vietnam, Malaysia, and Indonesia. It will funnel its new funds toward an expansion in Indonesia. Zeemart also has plans to enter Thailand, the Philippines, and India in the near future.

The foodtech landscape in Singapore is largely dominated by B2C or B2B2C startups that aim to increase customer engagement by adopting insights generated by artificial intelligence. Some notable startups in this vertical are Chope, Weeloy, Grain, Eatsy, Waitrr, and Mobikon. Zeemart takes the alternative route of helping businesses maximize the efficiency of their operation by reducing time spent on the procurement.