JumpStart Coffee, Indonesia's largest smart coffee bar, accelerates its global vending technology advancement with a fresh Series B funding round. The firm aims to expand its coffee vending network domestically and internationally by 2025, posing a dynamic rival for tech-based coffee companies like Singapore's Flash Coffee.
The Indonesian smart coffee bar is seeking to expand its smart vending machine network across the country and internationally between now and 2025. The amount raised by JumpStart Coffee in the investment round led by Cool Japan Fun and Living Lab Ventures has not been disclosed.
Claiming to be the biggest and fastest-growing smart coffee bar in Indonesia, JumpStart Coffee offers a self-serving vending machine with a selection of 20 iced and hot coffees. The beverages are priced at US$1 and higher.
JumpStart Coffee uses artificial intelligence software to manage stock levels and monitor sales data. Founded in 2018, JumpStart Coffee operates over 2000 coffee machines in Jakarta, Surabaya, and Bandung, with plans to expand to Java and Bali, and other major cities.
Earlier this month, Singapore-based Flash Coffee concluded its White Star Capital Series B financing round, raising US $50 million. The tech-enabled coffee company plans to expand into Indonesia, with plans to open in Surabaya in July. It has a presence in Jakarta and Bandung.
According to David Brunier, Flash Coffee founder and CEO, all of their 92 stores in Indonesia are profitable, and they are eager to expand their presence into additional Indonesian cities to drive sustainable growth.
Brunier described Indonesia as a solid product-market fit. The company plans to use the additional funding to speed up the completion of group-level profitability by 2024. It intends to intensify product and technology innovation while also boosting sales at current stores.
Along with Indonesia, Flash Coffee also operates in Thailand, Taiwan, South Korea, Singapore, and Hong Kong.
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