Kopi Kenangan, a Jakarta-based grab-and-go coffee chain attempting to take advantage of the growing demand for grounded coffee beverages, has raised US$ 96 million in a Series C funding round led by Tybourne Capital Management on 27 December 2021.

Investors: The latest investment round featured Tybourne Capital Management as the lead investor with participation from B Capital, Horizons Ventures, Kunlun and Falcon Edge Capital. The firm has managed to raise US$ 333 million, in total, to date.

Purpose of the funding: The startup seeks to deploy the proceeds from the funding round towards further expanding its latest brands, Kenangan Manis, Chigo and Cerita Roti, and constantly developing the Kopi Kenangan network and increasing its footprint overseas.

About Kopi Kenangan

Kopi Kenangan Logo

Brought to existence in 2017 by Edward Tirtanata, Cynthia Chaerunnisa and James Prananto, Kopi Kenangan offers its customers the benefit of placing an order through an app and either delivering or picking up the order from any of the Kopi Kenangan’s stores spread across Indonesia. The startup has experienced exponential growth in the previous year through doubled sales year on year. Alluring store-level payback periods and strong store-level margins have assisted the firm to thrive in a competitive environment. The firm employs over 3,000 people in more than 600 stores across 45 cities. It envisages serving 5.5 million cups monthly in Q1 2022 after making 40 million cups of coffee in the past year.

What the Founder has to say: “The ongoing assistance from existing investors, coupled with the new pool of investors in the latest investment round, testifies our constant focus on employing technology to build the best user experience and improving store productivity. We aim to emerge as the most admired consumer brand in Southeast Asia and, as stated in our five-year goal, we stand strong to expand our business and offerings swiftly.”- Edward Tirtanata, Co-Founder and CEO of Kopi Kenangan.

What the Investor has to say: “We have strong faith in Kopi Kenangan’s potential as it persists in operating and expanding in the fast-growing food and beverage industry in Southeast Asia. Kopi Kenangan team’s entrepreneurial spirit, great knowledge of the F&B domain, and ability to implement tech to interact with users and optimise sales and efficiency offer great opportunities for a secure future of the Indonesian unicorn.”- Bosun Hau, Managing Director of Tybourne Capital Management.

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Sankalp majorly focuses on writing newsletters on VCBay. He is pursuing Bachelors in Economics from the University of Delhi and exhibits proficiency in content writing and research.

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