[Weekly Updates] Kopi Kenangan Secures $109 Million Funding, IDN Media Acquires Production House; and More
We deliver weekly update about tech startup in Indonesia
Amir Karimuddin - 18 May 2020
Coffee startup Kopi Kenangan has making the headlines as it secures $109 million new funding led by Sequoia India. Also there are bunch of new investments announced last week, like KlikDaily and Dekoruma.
In the meantime, new media rising star IDN Media has snapped Demi Istri Production to create IDN Pictures, company’s new venture in video content creation.
Kopi Kenangan Announces Over 1.6 Trillion Rupiah Worth of Series B Funding
The new retail startup Kopi Kenangan has announced a Series B funding worth of $109 million (over 1.6 trillion Rupiah) led by the existing investor investor, Sequoia Capital India. New investors include B Capital, Horizon Ventures, Verlinvest, Kunlun, and Sofina. Also participated in this round is Alpha JWC Ventures.
Following this round, B Capital and Facebook co-founder Eduardo Saverin will sit on Kopi Kenangan’s board of directors. He’s eager to help the company to make faster business transformation.
It’s said that the company is now valued at almost $500 million.
KlikDaily Secures Series A Funding, to Facilitate Small Shops with Supply Chain
B2B marketplace Klikdaily has booked Series A funding in May 2020. The value is still undisclosed. This funding was led by their existing investor, Global Founders Capital (GFC), a Rocket Internet’s venture arm.
The fund will be utilized to accelerate the company’s mission–to empower traditional stalls across the country through technology and infrastructure development.
Klikdaily also plans to replicate its current business model to bring more distribution centers in major cities of Indonesia until the end of 2020.
Dekoruma Secures Investor’s Fund on Pre Series C
Dekoruma, an interior design and construction services platform, announced Pre-Series C funding with an undisclosed value. The lead investors in this round include InterVest Star SEA Growth Fund 1, Foundamental, OCBC NISP Ventura, and Skystar Ventures. Also participated are investors from the previous round.
Dimas Harry Priawan, Dekoruma’s CEO, said the fund will be used to further invest in the development of SOMA products, as an interior design and project management application that connects designers, suppliers, contractors, and customers. Currently, the application has been used in more than 3000 interior design projects.
Dekoruma claims to achieve positive EBITDA by early 2021.
IDN Officially Acquires Demi Istri Production House, Introducing IDN Pictures
New media mogul IDN Media has officially announced the acquisition of an independent film company or production house, Demi Istri Production. The production house was founded in 2013 by director Fajar Nugros and producer Susanti Dewi. Following the acquisition, those two to lead the newly formed IDN Pictures.
Through film, IDN intends to re-shape the Indonesian film industry while at the same time brings positive influence to the community.