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HomeAsian NewsIsmaya Group raises US$18M funding spherical led by East Ventures

Ismaya Group raises US$18M funding spherical led by East Ventures

Indonesian F&B and way of life large Ismaya Group in the present day introduced a US$18.1 million (IDR266 billion) funding spherical led by East Ventures. Present buyers Falcon Home Companions additionally participated on this funding spherical.

The corporate plans to make use of the funding to develop the attain of its retail F&B companies, unique way of life merchandise, and meals supply providers. Other than that, it additionally goals to optimise the usage of tech in accelerating enterprise development by way of personalisation.

Based in 2003, Ismaya began by opening its first leisure enterprise outlet in South Jakarta. After that, the corporate entered the F&B scene by launching eating places corresponding to Pizza e Birra, Kitchenette, Publik Markette, and Tokyo Stomach.

Ismaya finally expanded to the occasion promotion trade by launching Ismaya Stay, which has labored with main artists to run stay music festivals and exhibits. Flagship occasions corresponding to Djakarta Warehouse Undertaking and We The Fest have grow to be profitable annual occasions that gained the eye of music followers in Southeast Asia.

Immediately, Ismaya Group is likely one of the market leaders within the Indonesian F&B and way of life industries, with greater than 100 restaurant shops, lounges, and music festivals.

Ismaya Group CEO Bram Hendratta mentioned that many individuals had misplaced their human contact and craved bodily interplay for greater than two years of lockdown as a result of pandemic. This significantly affected the F&B and way of life industries, particularly these working within the eating expertise and music festivals. The CEO sees in the present day as a momentum to carry again these interactions.

Additionally Learn: SEA’s F&B tech startups raised a document US$461M funding throughout 49 offers in 2021: report

East Ventures Managing Companion Roderick Purwana expressed his belief within the model picture and operational know-how that Ismaya has constructed previously years in each native and worldwide markets.

“We’ve got witnessed the workforce’s resilience in navigating and dealing with disaster; now that the scenario has grow to be normalised, we’re assured in Ismaya Group’s capacity to develop and brings again enjoyable for the long run,” he mentioned.

East Ventures portfolio within the F&B industries

Based in 2009, Singapore-based East Ventures has grown right into a holistic platform that gives multiple-stage investments, together with seed and growth-stage investments in additional than 200 corporations in Southeast Asia.

Based mostly on the newly launched Startup Report 2021 by DSInnovate, East Ventures is likely one of the high buyers in Indonesia by way of the variety of funding rounds that they participated in 2022 with 22 funding rounds. These numbers don’t stray too removed from their 2021 counterpart.

As essentially the most lively VC agency in Southeast Asia, East Ventures sees itself as a sector-agnostic investor. Virtually all verticals within the native tech industries have been embraced by East Ventures, with F&B being one of many largest. Earlier than Ismaya Group, East Ventures has additionally invested in a number of foodtech startups corresponding to YummyCorp, Kulina, Greenly, and most just lately, Legit Group.

The article was written in Bahasa Indonesia by Kristin Siagian for DailySocial. English translation and enhancing by e27.

Picture Credit score: East Ventures

The publish Ismaya Group raises US$18M funding spherical led by East Ventures appeared first on e27.




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