Otten Coffee raises Series A funding from East Ventures

Image Credit: Otten Coffee

Otten Coffee, an Indonesian online store specialising in coffee-related products, has raised an undisclosed amount of Series A funding from East Ventures.

Initially started as offline store in 2012 operating in the Indonesian city of Medan by Robin Boe and Jhoni Kusno, Otten expanded its business into the e-commerce space to expand its customer reach across Indonesia.

The Indonesian coffee industry is particularly lucrative sector, with an annual production ranging from 600,000 – 720,000  tonnes.

According to the Global Business Guide Indonesiathe coffee industry presents opportunities for investment in both the upstream and downstream segments of the industry vertical, needing growth capital and being largely export-driven at this point. After Brazil and Vietnam, Indonesia is the third largest coffee producer and exporter globally.

It offers highly specialised coffee-related products, ranging from coffee beans to tools and equipment needed for coffee production. Capital from this Series A round will go towards improving Otten Coffee’s product selection expand product offerings. It is expected to significantly boost its position in the Indonesian coffee market, given that the Association of Indonesian Coffee Exporters and Industries (AICE) forecasts a compounded annual growth rate of 10.4 per cent in domestic consumption.

Boe stated: “People are willing to explore more on coffee making techniques, which is not easy because it requires knowledge on a variety of tools and equipment just to deliver one great cup of coffee. This energises us to educate Indonesians about this industry. We want them to know more on various types of coffee beans and master diverse brewing methods. We see the potential, as our people had 0.96kg/year per capita coffee consumption in 2012.”

Noticing the shift of coffee consumption in the market as the Indonesian middle class grows, Boe and Kusno realised that there was an increasing trend of  coffee consumers wishing to gain deeper knowledge about coffee production processes and refining. This aligns with the increasing domestic consumption that Indonesia has experienced since 2008.

Screenshot 2015-04-14 10.13.31

Wilson Cuaca, the managing partner of East Ventures, commented “Indonesia has been long known as one of the biggest coffee exporter in the world contributing 8.8 per cent of total coffee production in the world. With the recent third wave coffee movement; the artisan and exotic coffee beans, couple with the arts of coffee brewing have been highly recognized. Otten is well positioned to capture this opportunity, being headquarter in Indonesia and using online platform to distribute their coffee beans and equipment. Otten brings good quality coffee to your door.”

Related Stories:

Thai online marketplace Blisby raises $300k from East Ventures, DeNA, 500 Startups

Oddle secures $718k in funding round led by East Ventures

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.