Yummy Corporation, which claims to be the largest cloud kitchen area management company in Indonesia, has actually raised $12 million in Series B financing, led by SoftBank Ventures Asia. Co-founder and chief executive officer Mario Suntanu told TechCrunch that the capital will be utilized to broaden into more major cities and on developing its tech platform, including information analytics
. Other participants in the round consisted of returning investors Intudo Ventures and Sovereign’s Capital, and brand-new backers Vectr Ventures, AppWorks, Mission Ventures, Coca Soda Pop Amatil X and Palm Drive Capital. The Series B brings Yummy Corporation’s overall raised so far to $19.5 million.
Introduced in June 2019, Yummy Corporation’s network of cloud kitchen areas, called Yummykitchen, now includes more than 70 HACCP-certified facilities in Jakarta, Bandung and Medan. It partners with more than 50 food and beverage (F&B) business, including significant brands like Ismaya Group and Sour Sally Group.
During COVID-19 motion restrictions, Suntanu stated Yummykitchen’s company showed “healthy growth” as people, restricted mainly to their homes, ordered food for shipment. Financing will be utilized to get more partners, particularly brand names that wish to digitize their operations and expand shipments to handle the continuing impact of COVID-19.
The number of cloud cooking areas in Southeast Asia has actually grown rapidly over the previous year, driven by demand for food shipments that started increasing even prior to the pandemic. For F&B brand names that rely on shipments for an excellent part of their income, running their own cooking areas and staff can be cost-prohibitive. Sharing cloud cooking areas with other companies can help increase their margins.
Other cloud kitchen area startups serving Indonesia include Hangry and Everplate, however these business and Yummy Corporation are all up against two significant gamers: “extremely apps” Get and Gojek, which both run large networks of cloud kitchens that have the benefit of being incorporated with their on-demand shipment services.
Suntanu stated Yummy’s main edge compared to other cloud cooking areas is that it also offers fully-managed area and cooking area operation services, in addition to kitchen area centers. This indicates Yummy’s partners, consisting of restaurants and F&B brands, do not need to employ their own groups. Rather, food preparation and shipment is dealt with by Yummy’s workers. The company also supplies its customers with an information analytics platform to help them with targeted advertising campaign and making their listings more visible on food shipment apps.
In a statement, Harris Yang, Souteast Asia associate at SoftBank Ventures Asia, said the company invested in Yummy since “given the business’s strong know-how in the F&B industry and unique worth proposal to brands, our company believe that Yummy will continue to be the leader in this space. We are excited to support the group and assist them scale their service in this emerging sector.”
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.