On Thursday, Indonesian coffee chain Kopi Kenangan announced its recent seed funding of US$8 million from Indonesia-focused venture capital firm Alpha JWC Ventures. Kopi Kenangan is Indonesia’s fastest-growing grab-and-go coffee chain. Within a year, it already opened 16 stores in Greater Jakarta area, and the number will keep on rising as the company plans to operate a total of 30 stores by December 2018.
Tirtanata said that he sees the startup “not just as a small coffee shop business, but something that can be grown into a big venture with [a] ‘new retail’ concept through [its] additional technological side.”
Kopi Kenangan is Indonesia’s fastest-growing grab-and-go coffee chain which was founded in August 2017 by serial entrepreneurs Edward Tirtanata and James Prananto.