Photo from Kopi Kenangan's website.

Indonesia’s Kopi Kenangan hits unicorn status with $96m funding

It seeks to expand its new brands and broaden its coffee business’ reach internationally.

Indonesia-based coffee chain Kopi Kenangan has raised $96m in the first closing of its Series C funding led by Tybourne Capital Management, hitting the unicorn status with a valuation of more than $1b, the company said in a news release.

With the latest round of funding, Kopi Kenangan seeks to accelerate the expansion of its new brands—bread business Cerita Roti, chicken business Chigo and soft-cookies business Kenangan Manis—across Indonesia

The company also seeks to continue to build its Kopi Kenangan network and broaden its footprint internationally.

The oversubscribed Series C saw participation from existing investors including Horizons Ventures, Kunlun, and B Capital, and new investor Falcon Edge Capital.

Kopi Kenangan was founded in 2017 by Edward Tirtanata, James Prananto, and Cynthia Chaerunnisa, targeting a gap in the market in Indonesia between the high-priced coffee served at international coffee chains, and the instant coffee sold in the country's many street stalls.

With its new retail online and offline model, it offers customers the convenience of ordering through an app and either having coffee delivered to their doorstep or picking it up at one of Kopi Kenangan's over 600 stores across 45 cities in the country.

Follow the link for more news on

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Tailor-fitting retail stores to catch up on the digitisation race
Retailers would need over 200 hours to manually digitise their products, but Fairmart claims this could be trimmed down to zero.