Indonesia-based mobile café startup Jago Coffee has raised $12.5 million from new and existing investors, according to regulatory filings.
BEENEXT Accelerate led the round with a $7-million investment, followed by Intudo Ventures at $3.5 million, while the remaining capital came from a mix of new and existing backers. These included Apex Venture Fund VCC, CA Startups Internet Fund IV, Keep Korea Green Impact Fund No. 2, Orzon Ventures, and individual investors.
The fundraising confirms DealStreetAsia’s November 2025 report that the company was in the market for fresh capital.
Based on DealStreetAsia DATA VANTAGE calculations, the round values Jago Coffee at approximately $46.7 million post-money, a sharp jump from its earlier valuation of around $16 million.
Regulatory documents show that the shares were issued at a price of $4.21 per share, with BEENEXT Accelerate Fund 2 subscribing to nearly 1.66 million shares, while Intudo Ventures III invested in excess of 827,000 shares.
DealStreetAsia had reported in November 2025 that Jago Coffee was seeking to raise up to $13 million, led by existing backers Intudo Ventures and BEENEXT Accelerate, to expand its network of mobile coffee carts across Indonesia. At the time, sources said the round had drawn interest from new investors.
Founded in 2020, Jago Coffee operates an on-demand “coffee-on-wheels” model, serving freshly brewed beverages from electric mobile carts that can be ordered via its app. By eliminating fixed rental costs associated with brick-and-mortar outlets, the company aims to offer affordable, barista-quality coffee while maintaining operational flexibility.
Jago Coffee last raised $6 million in a Series A round in 2024, led by Intudo Ventures and BEENEXT Accelerate, with participation from Orzon Ventures and Silicon Valley-based D Global Ventures.
The funding comes as Indonesia’s coffee retail sector matures, with players like Janji Jiwa pulling back on franchise expansion and Tomoro Coffee reassessing network scale after rapid post-pandemic growth. Yet optimism remains, reflected in Fore Coffee’s April IPO, oversubscribed 200 times, and upcoming market entries by Malaysia’s ZUS Coffee and Canada’s Tim Hortons.
