Looking for the next ali, softbank groceries for Singapore electricity business Redmart refs


Singapore online grocery merchants Redmart want out of the limitations of the grocery store, their ultimate goal is to create a more involved in the field of logistics network, rather than merely groceries.

Redmart CEO Roger Egan said in an interview: “we think he is a skilled logistics company, just just do deliver groceries.”

the company is on a roll, to their ultimate goals. Scoop in January 5.4 million after the bridging finance, it is just from now investors Garena, Facebook co-founder Eduardo Saverin and new investors Visionnaire Ventures and SoftBank Ventures get 23 million B round of funding. With SoftBank Ventures is the Chinese e-commerce giant alibaba’s early investors.

Redmart, mostly to earned money for expanding the scope of the products, including fresh food delivery. Delivery of fresh food is a major logistics company nightmare, because from that moment has left the warehouse to the door of the customers have to keep their is not bad. Egan tells us that Redmart are exploring a world than any other grocery manufacturers more cost-effective method. This will depend on the company’s temperature control warehouse technology and packaging technology.

Egan tells us that since October this year, fresh food will gradually appear in Redmart, by the end of this year will provide a full range of fresh groceries.

Egan said, although Redmart will continue to focus on the Singapore market, but we can solve all logistics companies face the challenge, conquer the will easily in overseas markets. After all, Amazon took only four years from Seattle to the world.

as Egan said before, the electronic commerce the grocer is the most challenging in the field of electronic commerce. For example, an average of 22 to 26 Redmart items for each order, and a company like Amazon may only 1 or 2 items. It’s need to overcome difficulties of purchasing and packaging to make business more efficiency, and it can also help other e-commerce businesses to improve business efficiency.

in the latest round of financing is one of the most compelling Redmart success attracted SoftBank Ventures. The risk investment company from Japan is considered to be the biggest winner alibaba IPO.

Egan said it greatly improved the self-confidence, the companies and investors are encouraged to achieve their dreams. In view of the electronic commerce logistics basic establishment of different areas, the end result is likely to be, Redmart become southeast Asia’s version of alibaba.

Redmart income rose 20%, its range of products and customers also increased by about 20% to 20% per month.

Egan, when Facebook co-founder Saverin saw in January after the bridging finance wheel was “encouraged”. This is also in financing this time he’s largesse.

when Redmart continue to carry out reform of grocery shopping in Singapore, the end of the e-commerce vision idea also attracted many investors to join, indicates that in the near future, Redmart will not only as an online grocery store there.

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