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
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Jago previously raised $2.2m in a pre-Series A funding round in October 2022 | Photo credit: Jago
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.
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The investment follows Jago’s $2.2m pre-Series A funding round in October 2022, which the business used to scale its mobile cart fleet and enhance its technology platform.
Jago is the latest east Asian coffee business to court significant private investment within the last 12 months.
Small-format Filipino chain Pickup Coffee and technology-focused Flash Coffee raised $26.7m and $50m respectively in April and May 2023, while Chinese specialty operator M Stand also closed a Series B+ funding round ‘worth hundreds of millions of yuan’ in June 2023.
In March 2024 – only seven months after its launch – Kuala Lumpur-based on-the-go coffee start-up Koppiku raised $2.5m in a funding round which valued it at $8.8m.