The Indonesian coffee chain has secured $96M in its Series C funding, making in the country’s latest retailer to reach unicorn status.
The funding, which was led by Tybourne Capital Management, has brought Kopi Kenangan’s value to more than $10bn. The round was also joined by a number of existing investors including Horizons Ventures, Kunlun, and B Capital, and new investor Falcon Edge Capital.
The funds raised will be used for the expansion of its new brands, Cerita Roti, Chigo and Kenangan Manis across Indonesian. Furthermore, it will also continue to build the Kopi Kenangan network and broaden its footprint internationally, especially in ASEAN markets.
Edward Tirtanata, Co-Founder and CEO, Kopi Kenangan, said: “This fundraising positions us as the first New Retail F&B Unicorn from Southeast Asia. The continuing support of our investors, as well as the new backs in this funding round, is a testament to our continued focus on increasing store productivity and using technology to create the best user experience for our customers.”
This latest round follows Kopi Kenangan’s Series B funding in 2020, where it successfully raised $109M.
