Bisnis.comJAKARTA – Throughout 2022, several startups culinary (food and drinks/F&B) has received massive funding streams of up to hundreds of billions of rupees, including Mangkokku owned by the son of President Joko Widodo (Jokowi).
Based on data from traveler, quoted Monday (12/05/2022), Dailybox received the largest funding for the F&B sector, amounting to IDR 335 billion. Dailybox’s Series B funding was led by Northstar Group and Vertex Growth, with backing from Vertex Ventures Southeast Asia and India (VVSEAI) and Kinesys Group as previous investors.
Secondly, Hangry successfully secured IDR 316 billion in Series A funding. Journey Capital Partners led this round of equity and loan financing, along with Orzon Ventures and Sassoon Investment Corporation (SassCorp). Alpha JWC Ventures, Genesis Alternative Ventures and Innoven Capital, which is Hangry’s long-time investor, also participated in this round.
Meanwhile, Ismaya took third place with a fundraising of IDR 264 billion led by East Ventures with participation from previous investor Falcon House Pictures.
In fourth place, Mangkokku, a startup owned by the children of President Jokowi, Kaesang and Gibran and Chief Arnold, received a Series A funding of IDR 105 billion led by Alpha JWC Ventures and EMTEK, with participation from Cakra Ventures.
Finally, Wahyoo, a culinary MSME empowering startup, received Series B funding of IDR 99.4 billion. Based on data from VentureCap Insights, cited on Tuesday (10/11/2022), the startup has received funding from several investors, namely East Ventures, Indogen Capital, Intudo Ventures, NH Absolute Return Partners, Evowood, Nitto Prima Ventura and Global Brain.
Traveliner also sees that 3 out of 5 F&B startups with high funding levels have a menu of the main variant of rice, this proves that the taste of Indonesians is more dominant in rice.
The majority of F&B startup funding will take place in the second quarter of 2022 (May-August), this is supported by technology developments using online delivery.
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