The Kuala Lumpur-based on-the-go coffee business has opened four sites across Malaysia since debuting in September 2023, with a value-focused coffee menu starting at $1.07
The funding round values Koppiku at $8.8m | Photo credit: Koppiku
Kuala Lumpur-based on-the-go coffee start-up Koppiku has raised $2.5m in a funding round led by Vertex Ventures, which values the start-up at $8.8m.
Koppiku was founded in July 2023 by H2GO Global CEO Rajiv Bhanot and opened its first site in September 2023 – a mobile truck in the high footfall Plaza Mont Kiara – and has since opened three further sites across Kuala Lumpur and Selangor. Koppiku also uses delivery platforms Grab, foodpanda and ShopeeFood.
With beverages starting from $1.07 for an americano and reaching $2.11 for a latte, Koppiku is seeking to establish itself as an affordable and accessible destination for Malaysia’s younger on-the-go coffee consumers.
Its pricing is slightly lower than other value-focused operators ZUS Coffee and Kenangan Coffee, which both retail americanos for $1.47 and lattes for $2.33 and $2.11 respectively.
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Data from Alternatives.pe, which tracks regulatory filings across southeast Asia, shows that Singapore-based Vertex Ventures invested $1.5m in Koppiku, with Reshape Ventures and Antifragile Ventures among other investors.
World Coffee Portal’s Project Café East Asia 2024 report found that the total Malaysian branded coffee shop market grew by more than 720 stores last year to reach exceed 3,330 outlets.
The market is forecast to grow at 13% CAGR over the next five years to reach 6,100 outlets by the end of 2028.