An impressive amount of US$ 1 million has been raised by Indonesia based on- demand specialty coffee startup, Fore Coffee, increasing its Series A round total to a sum of US$ 9.5 million.
Two month post closing its Series A funding worth US$8.5 million, led by early stage investor East Ventures that has also backed its seed round, the additional funding has come up. The participants of this round included SMDV, Pavilion Capital, Agaeti Venture Capital, and several angel investors.
From January 19th, post the Series A funding round Fore Coffee claims to almost doubled its presence to 35 outlets in Jakarta. Founded by Robie Boe and Elisa Suteja in August 2018, it has become one of the top three Apple App Store’s food category app to be downloaded with over 500,000 app downloads.
The app offers its customers a platform to order coffee through a mobile app. The order can either be delivered to a specified location or picked up by the customer at one its outlets. According to said Fore Coffee co-founder and CEO Robin Boe, Coffee which is necessity for many can easily be bought without the customer having to go through the hassle of going to a coffee shop and waiting in a que. Thus it saves time for the customer allowing them to be more productive. Payment platforms like Ovo and Go-Pay are integrated with the app ensuring quality coffee at a low cost but high speed.
Post the launch of its app in December 2018, the startup has noted a significant rise in sales along with growth in its team. In the future, Fore Coffee is aiming to open 100 outlets by the end of June this year.