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Silicon Valley bets on Asian grocery startup Honestbee

One of the company's "bee" delivers produce to a customer's home.

HONG KONG-- It seems like a humble business in a relatively small and crowded market, yet Honestbee, a grocery delivery service based in Singapore, has managed to attract funding from some of world's most successful technology investors.

     The online start-up company has raised $15 million in funding led by Formation 8, an Asian-focused investment firm based in Silicon Valley, and including investors such as Steve Chen, one of the co-founders of YouTube; Gideon Yu, a former chief financial officer at Facebook; and Owen T. Van Natta, formerly of

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