# Honestbee Pte.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/honestbee-pte

- Industry: Consumer Services
- Headquarters: Singapore, Singapore
- Website: www.honestbee.com
- Total disclosed funding: $62M
- Latest round: Series B (Jul 24, 2018)
- Investors on record: 5

## About

Honestbee Pte. Ltd. is a Singapore-based company that provides on-demand delivery services, specializing in grocery and meal delivery to enhance convenience for consumers and businesses alike.Honestbee Pte. Ltd., founded in 2015, operates as an on-demand delivery service, primarily focusing on groceries and meal deliveries. The company is headquartered in Singapore and has expanded its operations across several Asian markets. The founder, Ong Ann, has a background in entrepreneurship, having previously been involved in other ventures. In July 2018, Honestbee raised USD 47.26 mn in Series B funding led by Hwaseung R&A, White Whale Group, and Yesco Holdings, bringing the total amount raised to USD 47.26 mn with a current valuation of USD 70.52 mn.Honestbee specializes in providing innovative delivery solutions, focusing on groceries, meals, and household items. Its platform connects consumers with local retailers, streamlining the purchasing process and enhancing the overall shopping experience. Through its user-friendly app, customers can order a variety of products from different categories, which are then delivered to their homes or offices, making it convenient for busy individuals and families to manage their daily needs.In 2017, Honestbee reported zero revenue and EBITDA, indicating a challenging operational year. The company relies on a subscription-based model and transaction fees from deliveries, targeting a diverse customer base to generate revenue streams in the future.Honestbee plans to leverage the recent Series B funding of USD 47.26 mn to enhance its technology platform and expand into new markets across Southeast Asia by 2019. The company aims to introduce new features to its delivery app, enhancing user experience and maximizing operational efficiency. The funding will be directed towards marketing efforts to increase brand awareness and attract more customers, supporting its growth aspirations in the competitive on-demand delivery landscape.

## Funding rounds

- Series B, Jul 24, 2018, $47M — INVENI, White Whale Group, Hwaseung R&A
- Series A, Oct 21, 2015, $15M — Formation8, Pear VC

## Investors

- Formation8 (https://capitalatlas.ai/funds/formation8) — Series A
- Pear VC (https://capitalatlas.ai/funds/pear-vc) — Series A
- INVENI — Series B
- White Whale Group (https://capitalatlas.ai/funds/white-whale-group) — Series B
- Hwaseung R&A — Series B