Yummy Corp Bags Additional Series B Funding from BRI Ventures
Previously, $12 million series B funding was announced in October 2020, led by Softbank Ventures Asia
After securing $12 million in Series B funding led by Softbank Ventures Asia in October 2020, Yummy Corp's cloud kitchen platform has secured additional series B funding from BRI Ventures' Sembrani Nusantara. There is no further detais on the investment value. The company will use the funds to continue the Yummykitchen expansion in more than 50 new locations until the end of 2021.
"We expect that our expansion will not only help business players, but will also be able to open up many new jobs and help the national economy to bounce back," Yummy Corp's CEO, Mario Suntanu said.
Yummykitchen, Yummy Corp's cloud kitchen business unit which was established in 2019, is growing rapidly and is sought after by food and beverage business players in Indonesia to help expand quickly and affordably during the pandemic. Cloud kitchen also become the solution as the restriction for malls opening and closing and dine in are still strictly enforced by the government.
To date, Yummy Corp runs more than 70 shared kitchens across Jadetabek, Medan, and Bandung; in collaboration with more than 50 food and beverage brands such as Dailybox, Gaaram, Kyochon, Sei Sapi Lamalera, and others. Various types of food are offered by Yummykitchen in order to provide diverse choices for consumers to enjoy the experience of buying their favorite food brands in one place.
"Now is the right time for us to encourage MSMEs platform growth through funding in new retail sector. Yummy Corp has helped MSMEs to survive the pandemic crisis and can continue to expand their business opportunities," BRI Ventures' CEO, Nicko Widjaja said.
Nicko continued, "BRI Ventures through the Sembrani Nusantara Venture Fund is committed to continue accelerating Indonesia's MSMEs through the technology startup ecosystem. In addition, the new retail sector is also one of the industries with significant growth in recent years and this sector will continue to grow in the future."
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