Indonesia’s Jago Coffee raises US$6 million in Series A funding
JAGO, a mobile cafe company based in Indonesia, bagged US$6 million in Series A funding in a round led by Intudo Ventures and Beenext Accelerate.
Orzon Ventures and D Global Ventures also participated, the startup said on Wednesday (Apr 17).
Jago, launched in June 2020, sells beverages using fully electric mobile carts inspired by Indonesian beverage carts called Starlings.
The startup plans to use the funding to expand its service coverage, establish depots that produce and package coffee for baristas, launch more carts, and make further investments in its technology stack.
At present, the company has 7 per cent coverage of Jakarta and aims for 50 per cent by end-2024. It is looking to increase its number of depots to 15 from three and deploy 1,500 carts, up from its current 300. It is also building geospatial machine-learning models to map out its expansion and prioritise key locations.
Jago said it will invest in upgrading cart hardware, innovate around demand forecasting and supply routing, and improve depot hardware to streamline its operations and enhance cost efficiency.
“This funding is not just a financial boost – it’s a vote of confidence in our vision and our team,” said Yoshua Tanu, its co-founder and chief executive.
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