The mobile coffee cart operator will use the funding to scale its fleet from 300 to 1,500 and boost its reach in Jakarta, where it is aiming for 50% delivery coverage by the end of 2024
Indonesian mobile coffee cart operator Jago Coffee has raised $6m in a Series A funding round led by existing investors Intudo Ventures and Beenext Accelerate.
Founded in June 2020, Jago currently operates 300 electric coffee carts across Jakarta. The start-up will use the funding to increase its fleet to 1,500 carts and is seeking to expand its delivery coverage across the Indonesian capital from 7% to 50% by the end of 2024.
Additionally, Jago will use the investment to upgrade and scale its depot network, which produces and package coffee for its baristas, in a bid to streamline its operations and enhance cost efficiencies. It currently operates from three depots and plans to open an additional 12 to support its expansion drive.
The Jakarta-based business primarily trades through pick-up and delivery via its mobile app. Jago is currently developing geospatial machine-learning models to map its expansion and prioritise key locations, according to Singapore’s Business Times newspaper.
“This funding is not just a financial boost – it’s a vote of confidence in our vision and our team,” said CEO Yoshua Tanu.
Source: worldcoffeeportal.com
