Hometaste, Malaysia’s food delivery startup, raises $576K for expansion

Hometaste, a Malaysian home-cooked meals delivery platform, has successfully raised RM2,410,317 ($576,000) via Malaysia’s leading equity crowdfunding (ECF) pitchIN platform.

The funds raised will be used to scale Hometaste as a data-driven multi-brand cloud kitchen operated via tech-enabled channels with a target to open 70 cloud kitchens by 2023 in Malaysia and eventually expanding beyond the Malaysian shores to other Southeast Asia countries.

Founded in 2017, the startup is currently growing the marketplace in Malaysia with 15,000 customer base, to date, delivering over 18,000 home recipes’ orders on a monthly basis.

Hometaste has proven the legitimacy of its business model with a growth of 15x on a yearly increment in revenue since it was founded.

Aston Chua Yee Shen, Chief Executive Officer and Founder of Hometaste, said that digital disruption and technological innovations have popularized the trend of ordering food online and doorstep delivery.

With the changing lifestyles and the pandemic situation, customers are demanding a more convenient way of life, with everything they need to purchase at the touch of a button.

Hometaste utilizes data analytics, machine learning, and artificial intelligence to optimize brands, cuisines, and menus for each target market and to also ensure its customers have better food quality and experience.

The startup is foreseeing its revenue to exceed the RM10 million mark in 2022.

Aston Chua expressed his gratitude for the support of the pitchIN team for their unparalleled breadth of advice and guidance in getting early-stage companies like Hometaste to successfully get the funding that it requires for the expansion roadmap.

Hometaste was part of MaGIC’s Global Accelerator Program (GAP) Cohort 5, which connected them with mentors that have helped them build networks during the 3-months program and in ensuring that Hometaste is investment-ready.

It started with one goal in mind — to be the home-cooked food delivery platform in Malaysia with a mission to share home recipes to everyone. #