Tech startup Wahyoo announced securing a $5 million Series A funding to help accelerate its expansion and hire new employees. The funding round was led by Intudo Ventures, with participation from Kinesys Group, Amatil X (venture capital arm of Coca-Cola Amatil), Arkblu Capital, Indogen Capital, Selera Kapital, Gratyo Universal Indonesia, and Isenta Hioe.
Peter Shearer, Daniel Cahyadi, and Michael Dihardja founded Wahyoo in August 2017. The startup aims to build a digital ecosystem in Indonesia by focusing on helping small eateries, commonly called warung makan, part of Indonesia’s 60 million MSMEs and major GDP contributors.
Wahyoo helps owners of warung makan to digitalize their operations, enable next-day-delivery for their groceries, digitize their bookkeeping, offer digital services and marketing to attract customers, and integrate with Gojek’s GoFood. The startup also gives training on maintaining services, kitchen, and cash flow through Wahyoo Academy.
They can also gain additional income from advertising and brand partnership with Wahyoo. Additionally, Wahyoo also launched its own fried chicken brand ‘Ayam Goreng Bikin Tajir’ by collaborating with poultry-based food company Sierad Produce (recently rebranded into Sreeya Sewu Indonesia) as the supplier. The owner who becomes an AGBT partner can set up a small outlet at their warung and expect to make Rp 15 million from the business.
Today, there are more than 13,500 registered warungs from Jadetabek area on Wahyoo’s platform.
“With this new funding, we plan to expand our operational area to cities outside Jadetabek, and hire more employees, particularly for the technology and product department. We will keep adding new features and services to solve owners’ needs, especially by improving our supply chain systems and financial products that can help owners increase their margin and gain financial access,” says Peter.