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.