Yummy Corp bagged $12 Million Series B for Cloud Kitchen Expansion in Indonesia

6 months ago . 2 min read
MP
Marella Putri
Writer at Forbes Indonesia
Yummy Corp bagged $12 Million Series B for Cloud Kitchen Expansion in Indonesia
Cofounders of Yummy Corp, from left: Marius Suntanu, Mario Suntanu, and Marbio Suntanu. Photograph by WS Pramono for Forbes Indonesia.

Online catering and cloud kitchen operator Yummy Corp today announced securing a $12 million Series B funding. The round was led by South Korea-based SoftBank Ventures Asia and participated by a range of global venture capitals namely HongKong-based Vectr Ventures, Taiwan's Appworks Ventures, Singapore's Quest Ventures, Coca Cola Amatil X, US-based Palm Drive Capital. Previous backers Intudo Ventures and Sovereign's Capital also participated in the round.

Yummy Corp started as a B2B catering business in 2017 and expanded its business line to a cloud kitchen operator in 2019 under the brand Yummykitchen. By providing a network of cloud kitchens spread across the city, Yummykitchen enables food & beverage brands to scale and expand their area coverage easily.

Today, Yummykitchen is the largest cloud kitchen operator in Indonesia, operating 70 cloud kitchens across Jakarta, Bandung, and Medan - with plans to expand to Surabaya, Semarang, Yogyakarta, Bali, and Makassar using the capital from its series B fundraising.

The number of brands that Yummykitchen serves has grown from 10 in February to more than 50 today, including well-known ones from Ismaya Group, Sour Sally Group, Padang Merdeka, Hong Tang, and Dailybox. As such, Yummykitchen claims that its transaction grew by 320% within the first semester of 2020.

Although the COVID-19 pandemic is affecting the F&B sector, Yummy Corp sees that those who are already developing their digital assets show a significant increase in sales. It has also attained HACCP (Hazard Analysis and Critical Control Point) certification, which ensures the quality of food safety and hygiene and is especially prioritized during this situation.

Yummy Corp was launched in 2017, cofounded by the Suntanu Brothers: managing director Marbio, CEO Mario, and food development director Marius, who is also an honoree of Forbes Indonesia 30 Under 30 2020, as well as Daisy Harjanto, and former managing director Foodpanda Indonesia Juan Chene. The company has served over 5 million meals to date, delivering 18,000 meals every day to clients such as Unilever, Wings, Oakwood, and the US Embassy.

In October 2019, Yummy Corp announced a $7.75 million Series A funding led by Sinarmas Digital Ventures and Intudo Ventures and participated by Agaeti Ventures, East Ventures, Sovereign’s Capital, and Selera Kapital by Sour Sally Group.

MP
Written By
Marella Putri
Writer at Forbes Indonesia
Topics
Technology