KOPI Kenangan Raises $96 Million at more than $1 Billion Valuation for Food Industry

KOPI Kenangan is an Indonesian coffee chain that, as of now, experiences the fastest growth. They apply a “grab-and-go” tech-based strategy aiming to capitalize on the trend for grounded coffee beverages. Despite being one of the biggest coffee exporters, Indonesia has the lowest coffee consumption per capita.

The funding round Series C was led by Tybourne Capital Management. Also, participating investors were the new one – Falcon Edge Capital, as well as already participated investors – Horizons Ventures, Kunlun, and B Capital. The money raised led the company to the unicorn status.

KOPI Kenangan, from Indonesia, was founded by Edward Tirtanata, James Prananto in 2017. They created an app that allows its users to order coffee and pick it up at the stores or have them delivered. Now KOPI Kenangan has 600 stores in 45 Indonesian cities. The company’s team consists of 3000 people. This year the company was managed to serve more than 40 million cups of coffee and plans to serve 5.5 million for the first quarter of 2022. “Our mission is to be the most-loved consumer brand in Southeast Asia and, as part of our five-year vision, we remain committed to rapidly expanding our footprint to thousands of stores across Southeast Asia and broadening our offerings,” said Edward Tirtanata, CEO.

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