Hangry Announces 188 Billion Rupiah Series A Funding Led by Alpha JWC Ventures

The multi-brand culinary startup Hangry today (03/5) announced the Series A funding worth of $13 million equivalent to 188 billion Rupiah. This round was led by Alpha JWC Ventures with the participation of Atlas Pacific Capital, SALT Ventures, and Heyokha Brothers. Hangry will use the fresh fund for national expansion in 2021-2022.

Previously, Hangry secured $3 million seed funding from Alpha JWC Ventures and Sequoia Capital for its involvement in the Surge accelerator program last year.

This year, the company aims to build more than 120 outlets and 20+ dine-in restaurants in various cities throughout Indonesia. In a media gathering earlier, Hangry's team said that they will immediately execute the omnichannel strategy, integrate online-offline distribution channels this year.

Was founded in early September 2019 by Abraham Viktor, Andreas Resha, and Robin Tan, Hangry currently operates 40 branches in the Greater Jakarta and Bandung. They manage in-house brands, from Moon Chicken, San Gyu, Ayam Koplo and Dari Pada.

The cloud kitchen concept applied in every outlet, to produce quality products at affordable prices. Food/beverages from Hangry can be ordered via GoFood, GrabFood, ShopeeFood, and the Hangry application.

"There are not many global food and beverage brands with really high-quality offerings, even those from Indonesia. This is our goal. We started from a small shophouse and will continue to expand to big cities in Indonesia and then to Southeast Asian countries. In the long term, Hangry wants to be a brand that grows with consumers, be there for their every moment and makes it count," Hangry's Co-Founder & CEO, Abraham Viktor said.

Abraham added, "The Hangry business is multi-brand and multi-channel concept to offer options with various channels for consumers. Therefore, opening a restaurant to dine-in has been in our roadmap, we just postponed it due to the pandemic. Last year, we decided to focus on the cloud kitchen concept and this has been the key to Hangry's success. Now, people are ready to return to their normal activities, including eating out, and this is the right time to introduce Hangry restaurant."

Meanwhile, for Alpha JWC Ventures, the new retail sector does have its own place in its investment hypothesis. Apart from Hangry, there are several other culinary startups have received support from them, including Goola, Kopi Kenangan, and Mangkoku.

"As its seed investor, Hangry's curent achievement has proved our trustin the beginning. With a customer focus and effective execution, Hangry always prioritizes excellence in terms of product taste and service experience. Within 1.5 years, Hangry has successfully launched various brands with various flavors and categories, and almost all of them are the best products with top rankings on various platforms - this is a clear example of innovation based on product market fit," Alpha JWC Ventures' Partner, Eko Kurniadi said.

–Original article is in Indonesian, translated by Kristin Siagian