# Freshcart Grocer Sdn Bhd

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/freshcart-grocer-sdn-bhd

- Industry: Consumer Services
- Headquarters: Petaling Jaya, Malaysia
- Website: www.supplycart.my
- Total disclosed funding: $2.2M
- Latest round: Series A (Jan 9, 2020)
- Investors on record: 5

## About

Freshcart Grocer Sdn Bhd is a procurement technology company specializing in cloud-based solutions that optimize the procure-to-pay process for organizations across various sectors in Malaysia and beyond.Founded in 2016, Freshcart Grocer Sdn Bhd specializes in cloud-based procurement software. The company is headquartered in Petaling Jaya, Malaysia. It has completed a total of 3 deals, with the most recent funding round being a SERIES A in October 2021, raising USD 370,000 from Pitch Nominees Sdn. Bhd. The current valuation of the company is USD 7.68 mn. The founders are Jonathan Oh and Shangrong Soh, with Jonathan Oh serving as the CEO, although there is no information available regarding previous companies founded by them.Freshcart Grocer Sdn Bhd offers ADAM, a cloud-based procurement software that streamlines the procure-to-pay process and enhances vendor management for organizations. The platform supports collaboration among procurement, finance, and IT teams, ensuring compliance and cost optimization. Features include digitized purchase requisition creation, automated approval workflows, vendor registration and evaluation management, and seamless integration with existing systems like SAP and Ariba. ADAM serves a diverse clientele in the Asia-Pacific region, particularly in Malaysia, addressing challenges such as poor visibility and inefficient approval processes.For the year 2023, Freshcart Grocer Sdn Bhd reported a revenue of USD 3,842,998.30 and an EBITDA of USD -78,269.40.Freshcart Grocer Sdn Bhd plans to utilize the recent SERIES A funding, raised in October 2021, to enhance its product offerings and expand into new geographic markets. Future product launches and enhancements are being designed to further support the needs of its clients. The company is focused on expanding its reach beyond Malaysia into other Asia-Pacific regions, aiming for significant market penetration by 2024.

## Funding rounds

- Series A, Jan 9, 2020, $1.8M — FirstFloor Capital, KK Fund, CAC CAPITAL, Aucfan Incubate
- Seed, Nov 23, 2016, $0.5M — Cradle Seed Ventures, KK Fund

## Investors

- Cradle Seed Ventures (https://capitalatlas.ai/funds/cradle-seed-ventures) — Seed
- KK Fund (https://capitalatlas.ai/funds/kk-fund) — Seed, Series A
- FirstFloor Capital (https://capitalatlas.ai/funds/firstfloor-capital) — Series A
- CAC CAPITAL (https://capitalatlas.ai/funds/cac-capital) — Series A
- Aucfan Incubate (https://capitalatlas.ai/funds/aucfan-incubate) — Series A