Born and raised in the hustle and bustle of Indonesia's capital city, Jakarta, James Rijanto recalled a big shift in venture trends, which used to revolve around the manufacturing industry to the new food and beverage (F&B) and lifestyle concepts.
Food and Beverage (F&B) has appeared as a resilient sector for Indonesia despite the slowdown during the pandemic. While most industries experienced a contraction, the F&B sector still grew by 0.2 percent in revenue growth year-on-year (YoY) in the second quarter of 2020, as Statistics Indonesia (BPS) data shows.
Ismaya Group secures US$ 18.1 million funding led by East Ventures to continue leading and expanding the F&B lifestyle industry in Indonesia
ISMAYA GROUP, the leading F&B lifestyle brand, announced that it has raised funding with a total amount of US$ 18.1 million led by East Ventures (Growth fund) with participation from existing investor, FALCON HOUSE PARTNERS.
TreeDots, Asia’s first vertically integrated food supply chain ecosystem, announced today that it has successfully closed an oversubscribed US$11 million Series A fundraise. The round was co-led by East Ventures and Amasia.
Ismaya-backed cloud kitchen company, Legit Group, has raised US$3 million (IDR 43 billion) of seed funding led by East Ventures with participation from AC Ventures.