Indonesia-based culinary startup Mangkokku has announced it has raised US$2 million in seed funding from an Indonesian VC firm Alpha JWC Ventures
Mangkokku currently operates 22 branches in the Greater Jakarta area and plans to use this fresh funds to scale operations by opening 30 branches by the end of 2020 and more than 75 by 2021.
Mangkokku was started in 2019 by Indonesian popular cooking show Masterchef judge Arnold Poernomo and businessman Randy Kartadinata. The startup later partnered with renowned F&B serial entrepreneurs Gibran Rakabuming and Kaesang Pangarep.
“We see that F&B continues to be an attractive sector that could benefit from technology enablement and venture capital investments. Mangkokku clearly has shown strong traction even during the pandemic, which proves its product-market fit. Our support on capital, know-how, and resources is to help the company scale faster and evolve from what’s already good to a great, lasting business,” said Eko Kurniadi, Partner at Alpha JWC.
“The dream is to become Indonesia’s largest F&B group targeted to the mass market and build our own ecosystem of multiple brands and culinary institutions. Not only that, but we also want to be the best culinary company in terms of local and regional scalability, as well as operations excellence. That’s why we took this startup route and partnered with Alpha JWC Ventures,” he added.
“Our passion for local food is what started the company, and we believe that the core of Mangkokku lies in the superiority of our dishes and continuous innovation,” Poernomo said.
“We are also building a company with a global mindset: that the only way we can grow fast, right, sustainably, is by providing the best options at affordable prices and maintain a standardized process in every single dish we serve. That’s why we operate all of our branches and apply technology-enhanced cooking processes to maintain product quality and consistency,” Poernomo concluded.