<article>Indonesia-based on-demand specialty coffee startup <a href="https://www.dealstreetasia.com/tag/Fore-Coffee">Fore Coffee</a> has secured a Series A funding round of $8.5 million from a group of venture capital and angel investors.</article>

Indonesia-based on-demand specialty coffee startup <a href="https://www.dealstreetasia.com/tag/Fore-Coffee">Fore Coffee</a> has secured a Series A funding round of $8.5 million from a group of venture capital and angel investors.
The VCs that participated in the round include East Ventures, SMDV, Pavilion Capital, Agaeti Venture Capital and Insignia Ventures Partners, the startup revealed in an announcement.
The investment comes just four months after Fore Coffee’s undisclosed amount of seed funding raised from East Ventures. The fresh financing will be used to scale up growth and invest in technology enhancements.
Fore Coffee, a project incubated within early-stage venture capital firm East Ventures, looks to leverage the rapid consumption-led growth in the domestic market.
Apart from using high-quality local Arabica beans, the company also leverages technology to deliver its coffee to its customers. It uses a mix of technology, self-built mobile app and existing built technology such as MokaPOS to track and monitor payment, Member.id for loyalty platform, and GO-FOOD, GrabFood, and TravelokaEats for distribution platform.
The company also has offline retail stores, several of which are designed specifically for delivery services only to allow customers to purchase their beverage faster. Fore Coffee currently has 16 outlets located in major malls across Jakarta.
&#8220;Our vision is that Fore Coffee will be a key player to strengthen Indonesia’s position as the top high-quality coffee producer in the world. Unlike many others, we don&#8217;t envision coffee to be just another temporary drinks trend but rather, a key commodity that can drive domestic economy and can be enjoyed as a lifestyle of Indonesian people for a long time,” said Fore Coffee co-founder Elisa Suteja.
“Fore Coffee is a crossed hypothesis of Indonesian coffee and digital economy. We keep asking ourselves, how could we improve the Indonesian coffee industry’s value chain in today digital economy context? Fore Coffee is a new kind of SME that won’t be able to exist in Indonesia a couple years ago. But today, the mature digital ecosystem in Indonesia has allowed it to gain momentum,&#8221; said East Ventures managing partner Willson Cuaca.
Fore Coffee, which launched its operations in August, marks the third project incubated within East Ventures after EV Hive and Warung Pintar. Co-working space provider EV Hive last year raised $20 million in a series A funding round, while retail-tech startup Warung Pintar secured a $27.5-million Series B investment earlier this month.
Cuaca had previously said that he believes the popularity of food delivery services among Indonesians will make Fore Coffee a hit, similar to how the Chinese market has warmed up to local startup Luckin Coffee. Luckin was reported to have become a unicorn after closing a Series A round late last year.
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/chinas-unicorn-luckin-coffee-burning-millions-to-overtake-starbucks-117897/">China’s unicorn Luckin Coffee burning millions to overtake Starbucks</a>
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The investment comes just four months after Fore Coffee’s undisclosed amount of seed funding raised from East Ventures.

Indonesia's Fore Coffee raises $8.5m Series A from East Ventures, others

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Indonesia's Fore Coffee raises $8.5m Series A from East Ventures, others

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