Country for PR: Indonesia
Contributor: Antara News Agency
Monday, December 23 2019 - 13:21
Kopi Kenangan Reaches 200 Stores and Becomes #1 Top-of-Mind Brand in Kopi Susu Category; Expands Series A Round
JAKARTA, Indonesia, December 23, 2019/Antara-AsiaNet/--

The Company Raised Additional Investment from Sequoia India, Arrive, and Serena 
Ventures Amongst Others

Kopi Kenangan, the fastest growing 'grab-and-go' coffee chain in Southeast 
Asia, announced an expansion of its June Series A round with additional 
investment from Arrive, a Roc Nation company, Serena Ventures, world-renowned 
basketball player Caris LeVert, and Sweetgreen CEO & Co-Founder Jonathan Neman, 
amongst others. Sequoia India, which led the US$20 million Series A round in 
June 2019, also participated in this expansion.

"We are inspired by Kopi Kenangan's tenacity, vision, and ability to execute," 
said Neil Sirni, Arrive Co-Founder and President. "In just two years, they have 
expanded to 18 cities, 200 stores, and over 1,800 employees. We're excited to 
be an investor in and partner to Kopi Kenangan as they introduce 
Indonesian-style coffee to the world."

Founded in 2017 by Edward Tirtanata, James Prananto, and Cynthia Chaerunnisa, 
Kopi Kenangan has managed to fill a sweet spot between the high-priced coffee 
served at international coffee chains, which are beyond the price range for 
most Indonesians, and the instant coffee sold at many street stalls. Just a 
year ago, Kopi Kenangan only had 16 stores while serving a few thousand cups a 
day. Today, Kopi Kenangan has expanded to over 200 stores nationally and serves 
more than three million cups of beverage each month. On average, the company is 
opening more than 1 store per day. The company, which is already profitable, 
has grown 20 times in revenue since its seed round led by Alpha JWC last year.

Kopi Kenangan plans to add more than a thousand new stores over the next two 
years and expand across Southeast Asia. "We want to build a legendary brand, 
and we're excited to work with our new investors and advisors who have built 
global consumer franchises spanning sports, entertainment, F&B, and 
technology," said Edward Tirtanata, CEO and Co-Founder. "We have come a long 
way since our humble beginnings two years back and want to continue learning 
and improving our service and products to meet the expectations of our 
customers in Indonesia and other markets."

Nielsen Company named Kopi Kenangan as the number one in top-of-mind awareness 
in the Kopi Susu or milk coffee category and second only after an established 
multinational coffee chain in the general coffee category – a notable ranking 
given Kopi Kenangan has been operating for less than two years. The company’s 
best-selling beverage "Es Kopi Kenangan Mantan" has been a customer favorite 
and helped it in securing the top spot for Kopi Susu or milk coffee category. 
Kopi Kenangan was one of the first to bring a take on the classic Indonesian 
Kopi Susu or milk coffee recipe to the Indonesian market at an affordable price 
and, most importantly, accessible locations for everyday consumption.

"We are humbled to have been able to reach an important milestone in our two 
years' journey," said Cynthia Chareunnisa, Co-Founder and Chief Marketing 
Officer, "We recognize that this is a joint effort from our Teman Mantan which 
includes our baristas and employees, partners, shareholders, and most 
importantly our customers who have made us top-of-mind for Kopi Susu."

Kopi Kenangan is the fastest-growing grab-and-go non-franchise coffee retail 
chain in Southeast Asia.

Sequoia helps daring founders build legendary companies from idea to IPO and 
beyond. Sequoia India operates in Southeast Asia and India where we actively 
partner with founders from a wide range of companies, across categories, 
including BYJUs, Carousell, Druva, GO-JEK, OYO Rooms, Tokopedia, Truecaller, 
Zilingo, Zomato and more. We spur founders to push the boundaries of what's 
possible. In partnering with Sequoia India, startups benefit from 47 years of 
tribal knowledge and lessons learned working with some of the world’s most 
enduring companies. From the beginning, the vast majority of money we invest 
has been on behalf of non-profits and schools like the Ford Foundation, Mayo 
Clinic, and MIT, which means founders' accomplishments make a meaningful 
difference. For more information on Sequoia's work in India and SE Asia, visit

Arrive is a Roc Nation company. Roc Nation is a full-service management, music 
publishing, and entertainment company founded by Shawn "JAY-Z" Carter. Launched 
in 2017, Arrive provides strategic capital and advisory to startups and 
early-stage ventures with a focus on the United States and Southeast Asia. 
Previous investments include Ethos, Robinhood, Sweetgreen, Manticore Games, 
Scratch, amongst others.

Serena Ventures was created in 2014 by entrepreneur, philanthropist and tennis 
icon, Serena Williams, with the mission of giving opportunities to founders 
across an array of industries. Serena Ventures invests in companies aligned 
with its core themes of diverse leadership (women and POC), individual 
empowerment, creativity, and opportunity.

Under the guidance of Serena herself, Serena Ventures focuses on early-stage 
(angel/seed/series A) companies, as well as mentoring young founders and taking 
burgeoning entrepreneurs to the next level. 

Serena Ventures extends relationships, encourages portfolio companies to 
collaborate, and expands partnership opportunities across Serena Williams' vast 
network. Serena Ventures has investments in over 30 companies across multiple 
industries. The SV portfolio includes businesses that touch e-commerce, food & 
beverage, fashion, health & wellness, social good, and more Alpha JWC Ventures 
is a Southeast Asian venture capital firm with an Indonesian angle and a 
focused value-add approach. Alpha JWC has deep financial technology (Fintech) 
and sustainable consumer sector expertise and has established a strong 
reputation and clear positioning in the market as the leading venture capital 
firm that has the best on-the-ground team with world-class complementary 
skill-sets and strategic network in Indonesia, Southeast Asia, China, and US. 
The firm currently manages two funds of US$ 50 million and US$ 100 million; and 
more than 25 active portfolio companies. Learn more about Alpha JWC at

Nielsen Holdings plc (NYSE: NLSN) is a global measurement and data analytics 
company that provides the most complete and trusted view available of consumers 
and markets worldwide. Nielsen is divided into two business units. Nielsen 
Global Media, the arbiter of truth for media markets, provides media and 
advertising industries with unbiased and reliable metrics that create a shared 
understanding of the industry required for markets to function. Nielsen Global 
Connect provides consumer packaged goods manufacturers and retailers with 
accurate, actionable information and insights and a complete picture of the 
complex and changing marketplace that companies need to innovate and grow. Our 
approach marries proprietary Nielsen data with other data sources to help 
clients around the world understand what’s happening now, what's happening 
next, and how to best act on this knowledge. An S&P 500 company, Nielsen has 
operations in over 100 countries, covering more than 90% of the world's 
population. For more information, visit 

Source: Kopi Kenangan

Chinese - Traditional
Hong Kong

Chinese - Traditional
Hong Kong