Indonesia’s dynamic coffee industry has recently witnessed some interesting developments.
Tech-enabled coffee chain Flash Coffee recently closed its series B round totaling USD 50 million, which the company revealed it will use to expand deeper into Indonesia, planning to open a branch in Surabaya. The Singaporean chain already has a presence in Jakarta and Bandung.
Flash Coffee highlighted that all of its 92 stores in Indonesia are profitable, thanks to a solid product-market fit. The company also intends to invest on technology and product innovation as well as improve the sales performance of existing stores.
In parallel, Indonesian company JumpStart Coffee has also recently completed a round of Series B fundraising, which it will allocate to enlarge its smart vending machine network across the country while planning its international expansion plan between by 2025.
The round was led by Cool Japan Fun and Living Lab Ventures, and is intended to enable the coffee brand to investigate new vending machine models, improve vending technology, and expand its workforce.
JumpStart Coffee brands itself as the biggest and fastest-growing smart coffee bar in Indonesia, offering a self-serve smart coffee vending machine with a selection of 20 hot and iced coffee beverages starting at USD 1. The company uses artificial intelligence software to monitor sales data and manage stock levels.
(Sources: Inside Retail; Tech in Asia)