Indonesia
Startup coffee chain Kopi Kenangan recently raised $20 million in investment capital with an eye on speeding its retail growth.
The Indonesian company wants to open 150 stores by the end of the year and expand to 1,000 outlets nationwide by 2021, according to news reports. Kopi Kenangan now has 80 stories in eight cities.
“Indonesia is the world’s fourth-largest coffee exporter – yet has the lowest coffee consumption per capita in the region because there is no large, affordable coffee chain with localized taste,” said Edward Tirtanata, Kopi Kenangan’s co-founder and c.e.o.
The tech-centric coffee chain deploys a mobile application from which customers can order drinks for pickup or arrange delivery via food tech partners.