Food2U raises six-digit investment

Food2U, Myanmar’s home-grown food delivery platform, has raised a six-digit investment from Premium Distribution, a distributor in retail, food services and non-food products, dealstreetasia reported quoting sources familiar with the development.

Premium Distribution is known to be backed by City Mart Holdings, Myanmar’s icon in the retail industry. It imports and distributes products including brands like Nestle, Fontana, Cadbury, Ferrero and non-food items like Classics, Lock&Lock and Luminarc.

Food2U, which had achieved a run rate of handling about 5000 deliveries per month last year, has expanded its services beyond Yangon to Mandalay and Taunggyi.

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