JIWA Group Obtains Funding, Changing the Local Coffee Industry Landscapet with Grab & Go Concept
Many coffee chain players currently focus on digital system development to increase user retention and product distribution
Coffee chain startup "JIWA Group" or known as one of its products, Kopi Janji Jiwa, announced funding from Openspace and Capsquare Asia Partners. The nominal investment is undisclosed, however, the fresh funds would be focused on increasing business expansion. Moreover, the two investors are considered to have the best practices in the local and regional value-chain markets.
Was founded in 2018, the company has overshadowed 3 product brands. Aside from coffee, it also offers Jiwa Toast and Jiwa Tea. In total, there are around 1000 outlets operated in 100 cities in Indonesia. Throughout 2021, it is said that the company has sold 40 million products, increased by two times compared to the same period the previous year.
"We believe JIWA's strong brand, unique product offerings, 1000 strong offline locations, equipped with the increasing use of technology across all business elements will continue to solidify its position as a market leader," Openspace's Executive Director Jessica Huang Pouleur said.
Technology development and omnichannel strategy
Based on the explanation of JIWA Group's Founder, Billy Kurniawan, the impressive growth obtained also influenced by the digital channels. Including the use of social media for engagement with customers, and integration with online marketplace and food delivery platforms.
They also launched the JIWA+ application to support the "grab & go" model as a signature of Kopi Janji Jiwa since day one. Users can order menus and pay through the application, they also offer options to pick up at the nearest outlet or have it delivered to the location. In the application, a loyalty system is also created to increase customer retention.
Aside from improving operations by adding outlets, products, warehouses, and logistics, with the investors support, JIWA intends to accelerate the use of technology. They're focus on several areas, such as improving customer experience, supply chain, and reducing carbon footprint. The founders also have a mission to become the industry leader for the technology-enabled F&B segment, to further enter the Asian market.
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