Online catering startup Berrykitchen.com is planning to raise more than $3 million for its Series B round by the end of year, its co-founder and CEO Cynthia Tengarra said in an exclusive interaction with DEALSTREETASIA.
The company currently serves 3500-4000 boxes per day, and with this fund raise, it plans to increase this to almost 10,000-15,000 boxes per day.
Berrykitchen.com had raised $1.25 million in its Series A round in 2015 from Sovereign’s Capital, a US-based venture capital firm that invests in Southeast Asia’s emerging markets, besides the US, and East Ventures. The startup had raised seed funding of IDR 500 million ($43,700) from ANGIN in 2014.
The Indonesian firm, which was launched by Tenggara and Ivan De Putra in 2012, has three key offerings – online lunch boxes, a ready-to-cook or on-demand package meal that can be delivered within one hour and a chef meal package prepared by celebrity chefs in Indonesia. It claims to have successfully served more than 30,000 customers till today.
Berrykitchen.com, which claims to earn monthly revenues of around Rp 1.9 billion, is now focused on profitability. “We managed to grow slowly, but we are more efficient in terms of purchasing, and are planning to grow 5-10 per cent a month from this month so we can reach profitability by the end of this year,” said Tengarra.
What differentiates Berrykitchen.com, Tengarra says, is that it offers quality products at affordable prices. “What we want to solve is the lunch problem for those with limited budget and the products we offer are still in line with that mission,” she adds.
What’s next for the startup? “With a strong technology team, we are planning to expand to outskirts of Jakarta and in areas like Bekasi,” Tengarra says.