As reported by Catherine Shu in TechCrunch (found here):

RedMart, an online grocery service based in Singapore, announced today that it has closed a $5.4 million bridge round led by Facebook co-founder Eduardo Saverin; Property Gurufounders Steve Melhuish and Jani Rautiainen; Meng Weng Wong, the co-founder of incubator JFDI; Wee Teng Wen, founder of The Lo & Behold Group; and Lion Rock Capital. The round was oversubscribed and brings RedMart’s total raised so far to $10 million.

Co-founder and CEO Roger Egan told me that RedMart’s new funding will be used to build its logistics infrastructure and technology to support the company’s growth. Since RedMart raised its Series A in July 2013, Egan says its revenue has grown 20% to 30% per month. He declined to disclose current financial or user metrics, but when we last wrote about the company six months ago, it had just made $5 million in annual sales. The company has also grown to 115 employees, up from 75.

RedMart is currently in the process of raising a Series B round, which is expected to close by the middle of the year, and will be used in part to fund the company’s expansion into other cities.

“We were going to do a smaller bridge round, but we were growing so fast we were running out of warehouse space and didn’t have enough delivery trucks,” says Egan. “We needed to expand faster than we thought.”

He describes RedMart as a “tech and logistics company that does grocery retail.” It is important for the startup to get order fulfillment right because as a grocery retailer, a typical RedMart order might include 22 to 26 items. The company currently has 16 delivery trucks and has developed software for Android-based devices that let drivers manage their routes, contact customers, and record delivery times.