What is Honestbee? Honestbee Review

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Honestbee officially started operations in Singapore in July 2015, with its initial positioning as an "online grocery delivery service provider": users select products and place orders in online stores, and then Honestbee's shoppers help customers purchase from the user's designated store, and then hand them over to Honestbee's logistics team, which guarantees delivery within one hour.

Innovation

Habitat has two innovations: cashless checkout experience (AutoCheckout) and robotic collection system (RoboCollect).

Development History

It was officially launched in Singapore in June 2015. It has since been launched in Hong Kong, Taiwan, Thailand, Indonesia, Malaysia, Bangkok, the Philippines and Japan.

In October 2015, Honestbee announced the completion of a US$15 million Series A financing round.

In November 2015, a fast food restaurant in Niseko was launched.

On October 18, 2018, Honestbee’s physical store “Habitat” opened in Singapore, causing quite a stir in Singapore’s media and venture capital circles.

Financing

In January 2015, it received seed round financing from Raven Ventures Australia.

In October 2015, Honestbee announced the completion of a US$15 million Series A financing round, led by Formation 8, a well-known Silicon Valley venture capital firm, and followed by investors Gideon Yu, Owen Van Natta, Steve Chen and investment company Prejman Mar Ventures.

In September 2018, Honestbee raised about $46 million, with one of South Korea’s chaebols being its largest backer.