The venture capital platform Coca-Cola’s Amatil X has participated in Series A investment for Wahyoo, a Jakarta-based start-up that provides value added services to small eateries. The investment will be used to fund company’s expansion beyond Greater Jakarta area and hire tech experts to develop its tech platform.
In total, Wahyoo has raised a total of USD 5 million for its Series A. Besides Amatil X, other investors include Kinesys Group, Arkblu Capital, Indogen Capital, Selera Kapital, Gratyo Universal Indonesia and Insenta Hioe. Among the ways Wahyoo monetize are through ad banners or brochures installed inside the eateries and fried chicken franchise.
Wahyoo helps small eateries to digitize its operation and improve its finance. Established in 2017, Wahyoo application has almost 14,000 small eateries in its ecosystem. In Jakarta alone, the company claims to service one out of four warungs in operation. Through the application, these eateries can order next-day grocery delivery service and participate in workshops from Wahyoo Academy on financial and marketing issues.
While the COVID-19 pandemic has slowed down demand for eateries due to large-scale social restrictions, Wahyoo notes that its eateries began to recover in June and July, thanks to the platform integration with Go-Food. Go-Food is a popular delivery service under one of Indonesia’s unicorns, Go-Jek.
Besides Wahyoo, other start-ups operating on helping small eateries include Warung Pintar and BakuWarung.
(Sources: Inside FMCG; Tech Crunch)