Kopi Kenangan to Be Southeast Asia First New Retail Unicorn

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Kopi Kenangan officially holds the title as the first food and beverage (F&B) unicorn startup in Southeast Asia to record a valuation value of USD1 billion.

This refers to the twitter account of the Ministry of Tourism and Creative Industries (Kemenparekraft) Sandiaga S Uno through his twitter account post. Sandi delivered Nasdaq’s congratulations to Coffee Memories, which read“Nasdaq Congratulates, Coffee Memories As The First New Retail F&B Unicorn in South East Asia!”.

American stock exchange Nasdaq also congratulated their billboard screen on the achievements of this franchise company that is famous for its former memorable coffee products.

“Coffee Lovers Memories, where does it sound? Kopi Kenangan has just become the first F&B (food and beverage) unicorn in Southeast Asia with a valuation of $1 billion. Proud of the products of the nation’s children!” said Sandiaga quoted from the instagram account @sandiuno, reported by Mediaindonesia.com,Friday, January 7, 2022.

Sandiaga said, the coffee shop established since 2017 has succeeded in creating jobs for more than 3,000 employees, with a total of 600 outlets spread across 45 cities in Indonesia.
Sandi also appreciated the team from Kopi Kenangan who continue to innovate using digitalization in developing businesses through the creation of applications.
“Appreciation because Coffee Memories continues to innovate and become part of digitalization. Over the past year, Kopi Kenangan application was recorded as the most downloaded coffee application and managed to achieve the best ranking in Indonesia,” sandiaga said.

Kopi Kenangan officially became one of Indonesia’s unicorns after successfully pocketing USD96 million or Rp1.37 trillion (assuming an exchange rate of Rp14,300 per USD) from the series C funding round that he conducted some time ago.
This funding makes the company currently worth more than $1 billion. The series C funding is led by Tybourne Capital Management and participation from other investors such as Horizons Ventures, Kunlun, and B Capital, and new investor Falcon Edge Capital.
As quoted by medcom.id, Kopi Kenangan Co-founder and CEO Edward Tirtanata said the funding will be used by the company to expand its business network in southeast Asia. “I am very pleased to announce this fundraiser, which places us as the first New Retail F&B Unicorn from Southeast Asia,” Edward said in a press release on Wednesday.

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