Indonesia-based cloud kitchen Yummy Corporation bags US $12M in a Series B funding round held in September 2020, led by SoftBank Ventures Asia along with participation from previous investors Intudo Ventures and Sovereign’s Capital and new backers Vectr Ventures, AppWorks, Quest Ventures, Coca Cola Amatil X and Palm Drive Capital.
The latest round brings the startup’s funding raised to date to a total of US$ 19.5M. Capital raised will be used by Yummy to expand its reach to major Indonesian cities and on developing its tech platform. It will also be used to get more partners, particularly brands that want to digitize their operations and expand deliveries to handle the unending impact of COVID-19.
What is a cloud kitchen?
A cloud kitchen is fully-managed commercial cooking place for restaurants with absolutely no dining space, making it totally socially distanced. The orders for the food are collected by the restaurants and F&B brands and delivered at the customer’s doorstep.
That is Yummy corporation’s for you!
Founded in 2017 by Mario Suntanu and launched in 2019, Yummy Corporation runs a network of cloud kitchens called Yummykitchen that provide delicious, fresh and creative food solutions for corporate and group needs.
Currently, it has 70 HACCP-certified facilities in Jakarta, Bandung and Medan. It has also partnered with more than 50 food and beverage (F&B) companies such as Ismaya Group and Sour Sally Group. Its clients include Facebook, Ascott Jakarta, Shopee, Unilever, and more. During the onset of the COVID-19 pandemic and the resultant lockdown, the founder claims that Yummykitchen’s business showed strong growth as people, restricted mostly to their homes, ordered food for delivery.
Yummy Corporation’s main advantage compared to other cloud kitchens in the Indonesian ecosystem such as Grab, Gojek, Hangry, and Everplate, is that it also provides a fully-managed location and kitchen operation facilities, in addition to kitchen services. This implies that restaurants and F&B brands that have partnered with Yummy Corporation don’t need to hire their own teams. Instead, food preparation and delivery is managed by Yummy’s workers. Additionally, the startup also provides its clients with a data analytics platform to assist them with targeted ad campaigns and increase the visibility of their listings on food delivery apps.
Harris Yang, Southeast Asia associate at SoftBank Ventures Asia, gave the reason for the firm’s investment in Yummy as, “given the startup’s strong proficiency in the F&B industry and unique value proposition to brands, we believe that Yummy will continue to be the leader in this space. We are excited to support the team and help them scale their business in this emerging sector.”
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