Indonesian cloud kitchen startup Yummy confirms $7.75m funding led by Intudo, SMDV

Photo: Yummybox

Indonesia’s Yummy Corp, a catering solutions and cloud kitchen startup, has raised a total of $7.75 million in Series A funding led by SMDV and Intudo Ventures, according to an official statement.

Other investors participating in the round include East Ventures, Agaeti Ventures, Sovereign’s Capital, and Selera Kapital by Sour Sally Group.

The announcement confirmed a DealStreetAsia report last week which said that Yummy had closed a nearly $8-million round with Intudo Ventures as a lead investor.

Established in 2017 as an affiliate of Indonesia’s F&B and entertainment major Ismaya, Yummy Corp has two services: catering solutions and cloud kitchen. Catering offers foodservice solutions to companies on-premise (by operating the company’s kitchen and cafeteria) as well as off-premise (as ready-to-eat meal delivery).

In addition, employees can easily select and order their meals through the Yummybox app using their corporate balance or top up their own balance.

Earlier this year, Yummybox acquired Berrykitchen, the first and largest online catering company in Indonesia.

Yummy Corp’s cloud kitchen business, named Yummykitchen, works with local culinary brands and delivery platforms to extend their services to its network of delivery-focused kitchens, serving as a growth platform for the partner brands.

Today, the company claims to operate 25 cloud kitchen locations in the Greater Jakarta Area, serving over 10,000 meals every day and has more than 3,000 menus.

With this investment, Yummy Corp is targeting 200 locations for the year 2020 across Jakarta and other major cities in Indonesia.

“We aim to use this investment to increase the quality of food and customer experience. Our main focus is the customers, and by adding wide-reaching distribution points we aim to ensure that the customers can experience faster delivery experiences and fresher food to be enjoyed anywhere the customer orders,” said Yummy Corp CEO Mario Suntanu.

In the booming cloud kitchen space, the investment will give Yummy firepower to compete with Grab’s GrabKitchen which claims to be the largest operator of cloud kitchens in Southeast Asia with 20 ‘live’ kitchens and aims to grow its network to over 50 GrabKitchens in five countries, including the Philippines and Singapore, by the end of 2019.

Grab’s rival Gojek has invested $5 million in an Indian cloud kitchen company called Rebel Foods, which is expected to help the decacorn roll out cloud kitchen services in its existing markets.

Meanwhile, other existing cloud kitchen players in Southeast Asia include Singapore-based Smart City Kitchens and Grain, Malaysia-based Dahmakan, Deliveroo and Foodpanda.

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.