Phnom Penh-based venture capital firm OBOR Capital has closed an early-stage equity fundraising deal with online supermarket platform Delishop.Asia.
Launched in 2019, Delishop.Asia was the first online supermarket platform in Phnom Penh and it is touted as the largest grocery e-commerce platform in Cambodia today. It offers more than 8,000 consumer goods ranging from food and beverages to cosmetics, from more than 40 suppliers.
“We were impressed by Delishop’s execution and its obsession towards customer satisfaction. We believe the sector has strong potential and is ripe for disruption. We are very excited to be on-board and will be working closely with Delishop’s team to build synergies with our existing projects and scale the business aggressively over the coming period,” said Obor Capital chairperson Christophe Forsinetti.
Although no financial details concerning the deal were disclosed, Delishop.Asia said it will utilize the funds to upgrade its web portal and develop its Android and iOs apps, scheduled for launch by the end of this year. In addition, the firm will invest in the development of backend technologies for supply-chain management.
The firm will also broaden its delivery fleets and create driver-training programs, as it plans to expand its business within Phnom Penh and in other parts of Cambodia.
The investment from OBOR Capital includes fresh capital injection and acquisition of Delishop.Asia’s secondary shares.
Online public transport booking platform CamboTicket—part of OBOR Capital’s portfolio—also participated in this funding round by buying a minority stake in the online supermarket firm, the statement said. The deal will see the two companies working together to provide strategic support for Delishop.Asia in key functional areas.
Correction: An earlier version of the story misstated the launch year of Delishop.Asia, it should be 2019 instead of 2015.