# FreshKet

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/freshket

- Industry: Internet
- Headquarters: Bangkok, Thailand
- Website: www.freshket.co
- Total disclosed funding: $27M
- Latest round: Series B (May 20, 2022)
- Investors on record: 9

## About

FreshKet, based in Thailand, is a company that specializes in supplying fresh produce and food ingredients directly to restaurants and food service businesses, ensuring operational efficiency through effective logistics.Founded in 2016, FreshKet operates from its headquarters in Bangkok, Thailand, providing fresh produce to various food service clients. The company has made 6 deals to date, with the most recent deal occurring on December 24, 2024, during which FreshKet raised USD 8.00 mn in funding from investors including Thai President Foods PCL, Kliff Capital, Openspace Ventures, and ECG Venture Capital. The CEO, Ponglada Paniangwet, is one of the co-founders alongside Saran Chiwtanasuntorn.FreshKet specializes in the direct supply of fresh produce and food ingredients to restaurants and food service businesses. Their core product offerings include a diverse range of items such as meats, seafood, vegetables, and other perishable goods, all packaged in various sizes to meet the specific needs of their clientele. By utilizing an efficient logistics system, FreshKet ensures timely delivery, addressing the critical need for fresh ingredients in the fast-paced food industry. Their offerings cater primarily to small to medium-sized restaurants, catering companies, and food trucks within urban areas known for a vibrant food scene. FreshKet’s market reach extends to key regions in Thailand, where they serve a growing clientele seeking reliable sources for quality food supplies.FreshKet generates revenue through a structured transactional model that focuses on B2B sales, primarily targeting restaurants and food service entities. In 2022, the company reported a revenue of USD 29.49 mn, with an EBITDA of USD -8.38 mn. Customers place orders through an online platform, allowing for streamlined operations and efficient inventory management. The transaction process may involve subscription models for regular clients, ensuring they receive consistent supplies of fresh ingredients based on their specific needs. Flagship offerings, which include various sizes of packaged goods tailored to different culinary applications, form the core of their sales strategy. Pricing plans are structured around the quantities and types of products ordered, aligning with the company’s commitment to providing quality and value to their business clients.In December 2024, FreshKet raised USD 8.00 mn in funding, which will be utilized to support product development, expand into new markets, and enhance strategic collaborations. The company is focusing on launching new product lines aimed at increasing their market share and catering to diverse customer needs. Specific geographic regions targeted for expansion include additional urban areas within Thailand and potential markets in Southeast Asia, with plans to initiate these efforts within the next two years.

## Funding rounds

- Series B, May 20, 2022, $24M — Openspace Capital, Volta Circle, PTT Oil and Retail Business Public Company Limited, Betagro.com, Orzon Ventures
- Series A, Sep 3, 2020, $3M — InnoSpace Venture Capital, SeedersClub, Openspace Capital, Denis Asia Pacific, ECG Venture Capital

## Investors

- InnoSpace Venture Capital (https://capitalatlas.ai/funds/innospace-venture-capital) — Series A
- SeedersClub — Series A
- Openspace Capital (https://capitalatlas.ai/funds/openspace-capital) — Series A, Series B
- Denis Asia Pacific — Series A
- ECG Venture Capital (https://capitalatlas.ai/funds/ecg-venture-capital) — Series A
- Volta Circle (https://capitalatlas.ai/funds/volta-circle) — Series B
- PTT Oil and Retail Business Public Company Limited — Series B
- Betagro.com — Series B
- Orzon Ventures — Series B