Singapore salad bar chain SaladStop! has raised S$5 million (US$3.6 million) from private equity firms DSG Consumer Partners and Hera Capital who took a minority stake in the company.
SaladStop! has 15 outlets in Singapore and eight in the Philippines, with stores in Hong Kong, Indonesia and Japan scheduled to open by the end of the year. Its first round of funding will be focused on further growing its footprint in Singapore, investing into new ventures and continuing to develop its technological platforms.
A family business, SaladStop! was founded by hotelier Daniel and Adrien Desbaillets in 2009 and is co-headed by daughter Katherine and son-in-law Frantz Braha.
Hera Capital’s Thierry de Panafieu says the company benefits from the growing middle class in Asia and increasing awareness toward healthy and sustainable eating.
SaladStop!’s motto, Eat Wide Awake, encourages consumers to be more knowledgeable about their food. It is pioneering a food movement that believes in the basic human right to truly eat well.
Hera Capital is a private equity firm investing in fast-growing SMEs in the consumer retail, media and digital sectors with a focus on Southeast Asia. Hera Capital has invested into such firms as ActSocial, Bel Perfumes, CashCashPinoy, Creme Simon and Sophie Paris.
DSG Consumer Partners is a venture capital fund focussed on early-stage consumer businesses in India and Southeast Asia. Brands funded and backed by the founders since 2004 include Bakers Circle, Burger King India, Chai Point, Eazydiner, Raw Pressery, Saffronart, Saraf Foods, Smoke House Deli, Sula Wines and Veeba Food.