Kobe Kinangan, an emerging company that wants to make fresh, high-quality coffee at reasonable prices for Indonesian consumers, has raised $ 20 million with the study of overseas expansion in Southeast Asia.
The tour comes courtesy of Sequoia India and Southeast Asia, across The $ 695 million investment fund it closed last year. Kopi Kenangan previously collected $ 8 million from Alpha JWC Ventures.
The company started in 2017 by Edward Tarantata and James Brananto, and the company aims to bridge the gap between coffee and cheap street vendors at the top end of the spectrum of international chains such as Starbucks – "Nice place", you might say. Tertanata said the delta was one of the main reasons Indonesia, the world's fourth largest coffee exporter, had the lowest consumption of coffee in Southeast Asia per person.
Kobe Kinangan is also a local shameless. Instead of a las, mocha or flat white, the best-selling drink is Es Kopi Kenangan Mantan, a sweet Indonesian coffee using palm sugar, among other Southeast Asian drinks. Ingredients are obtained locally, including four different coffee blends from all over the country and organic palm sugar. Tirtanata TechCrunch told that raw materials are not cheap, but they are essential for the "customer first" company.
Indeed, Kopi Kenangan has a great retail footprint, including 80 stores in eight cities. The company uses on-demand services such as Go-Jek (GoFood) and Grab (GrabFood), which accounts for a third of all orders, according to Tirtanata, rather than operating its external fleet as competitors.
Impressive, that work is profitable thanks to the managed inventory and the concentration of waste that you see neighboring affiliates share resources. Tertanata said maintaining sustainable business is the main focus although it is now being pursued with new capital.
With this new financing under its belt, the company is looking to expand significantly nationally and internationally. Tertanata said the plan was aimed at reaching 500 stores by next year, which it said would include sites in two overseas markets. He declined to be identified, but revealed that recruitment was already underway in both countries.
In addition to increasing its commercial size, Kopi Kenangan will use the capital to configure its logistics to support the expected rise in business. (Claiming they sell "nearly" one million cups of coffee per month, up from 175,000 cups in October).
Leads the list of logistics to track coffee supplies and shipments – Tirtanata acknowledged that it is normal to have beans below the level, and this will help to get rid of them – using RFID and other technologies. The company's development team is preparing to work on a new feature for the Internet, which will be detailed later, improvements to Kopi Kenangan applications and digital services.
Unlike new competitors such as Fore Coffee, Which takes the cues from Lucken China By focusing on digital delivery, Kopi Kenangan is satisfied with the use of customized third-party applications and its "new retail" experience. Its application allows customers to order prepaid coffee at the nearest branch. If they are in an unfamiliar location, they will guide them to the store.