Yummy Corp Receives IDR 175 Billion Funds From SoftBank

JAKARTA, KOMPAS.com – Company cloud kitchen (shared kitchen), Yummy Corp received series B funding of 12 million US dollars or equivalent to Rp 175 billion from various sources venture capital global new led by SoftBank Ventures Asia South Korea.

The new global investors are Vectr Ventures Hong Kong, Appworks Ventures Taiwan, Quest Ventures Singapore, Coca Cola Amatil X Australia, Palm Drive Capital in the United States, as well as Intudo Ventures and Sovereign’s Capital.

These new investors will join the investors who have invested in Yummy Corp. from the start.

For example, Sinarmas Digital Ventures (SMDV), East Ventures, Agaeti Ventures, Prasetia Dwidharma, and Selera Kapital by Sour Sally Group.

This funding continues the positive momentum from series A funding of US $ 7.75 million or around Rp. 115 billion obtained in October 2019.

Softbank Ventures Asia representative Harris Yang said Yummy Corp was the actor cloud ktichen largest in Indonesia due to market support food delivery which is growing rapidly in Indonesia.

“We are very pleased to support and help them improve their business in this growing sector,” Harris explained in a press release, Friday (25/9/2020).

One of Yummy Corp’s business units is Yummykitchen which is the only one cloud kitchen in Indonesia by positioning itself as a full-fledged operator.

Yummykitchen has the role of not only renting out shared kitchens but working on the operations of various brands so that they can expand more quickly and reach wider consumers.

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Yummykitchen has operated 70 shared kitchens in Jakarta, Bandung and Medan since it was launched last year.

Currently, more than 50 F&B brands have joined Yummykitchen, namely, Ismaya Group, Sour Sally Group, Padang Merdeka, Hong Tang, and the Daily Box.

Yummykitchen showed positive growth during Semester-I of 2020 with a 320 percent increase in transactions.

Most of the series B funding will also be used for the expansion of Yummykitchen
to various other big cities in Indonesia.

Yummy Corp CEO Mario Suntanu said that his party was very excited to welcome them
the presence of global investors who join Yummy Corp.

“Today becomes a milestone (history) is important for us, especially at a time when all industries are struggling in the midst of a global recession due to the Covid-19 Pandemic, “said Mario.

Mario hopes that with this funding, his party can play an active role in helping the F&B industry to continue to develop its business.

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