Legit Group is a cloud kitchen brand operator based in Jakarta that has raised a $13.7 million Series A from MDI Ventures, the venture capital arm of PT Telcom Indonesia Tbk. This round was led by SMDV, returning investor East Ventures, and Winter Capital. The company is looking to expand operations into other parts of Indonesia after succesfully growing its business within the region
Since it was founded in 2019, Legit Group has been on a tear. The startup has raised $3 million in capital from East Ventures and AC Ventures, and according to CEO Charles Nierenberg, sales have tripled since then. Nierenberg attributes the growth to effective marketing, which he says allows Legit Group “to go toe-to-toe with the more established businesses.” With such momentum behind it, Legit Group looks poised for continued success.
Legit Group is a small, but rapidly expanding cloud services provider in Jakarta, Indonesia. With the recent investment in new Brand Sek Fan and plans to expand into new areas with high potential delivery markets, Legit Group is looking to expand its reach even further.
Legit Group’s team is composed of highly skilled individuals who are passionate about their work. Monica Evanti Andriani is responsible for dealing with clients, Felix-Nugroho helps with the administrative tasks, Cendyarani ensures that the emails are properly sent and responded to, and Juliana-Thamrin handles customer service. Bram-Hendranata takes care of market research and developing marketing strategies.
Although Legit Group is a new company, chairman Bran Hendrata is no stranger to the restaurant industry. With over 15 years of experience in the field, Hendrata has built one of Indonesia’s largest food and beverage companies, Ismaya Group. During his time at Ismaya, Hendrata saw firsthand theShift towards online food delivery during pandemic times. He believed that as Indonesia’s growing middle class demanded convenience foods with restaurant-quality taste and quality, this change would continue well after pandemic ended.
Indonesia is a populous country with geographic diversity. The archipelago consists of thousands of islands, and there are a variety of climates and ecosystems. That means that there are many companies looking to tap into the Indonesian market, which will be worth over 240 million people by 2025, according to ACI Worldwide.
One company looking to enter the Indonesian cloud kitchen market is Yummy. Yummy currently operates nearly 40 kitchens in Indonesia through its mobile app and website. It offers meal delivery, catering services, as well as on-demand recipes from top chefs around the world.
Another cloud kitchen startup focusing on Indonesia is Hangry. Hangry delivers Indian street food from local hawkers in Jakarta and other Indonesian cities using an app and Amazon Web Services (AWS). Customers can order food for pickup or delivery at any time and pay with Bitcoin or traditional payment methods like cash or credit cards.
Legit Group recently announced it has raised $8 Million in funding led by Accel Partners LLC . The company said this funding will be used to further develop its operating system for brands in the Cloud Kitchen sector across multiple continents including Indonesia
The startup plans to expand further into Jabodetabek and enter 2nd tier cities this year. It also plans to launch new brands with different peak hours than its existing ones, in order to more efficiently utilize its kitchens. This expansion marks the continued success of the startup, which has quickly gained a reputation for excellence in culinary services.
Overall, MDI Ventures is very pleased with the investment it has made in Legit Group. Founder Bram and his team are experienced businesspeople and have a track record of success. They are extremely adept at developing innovative products and marketing strategies, which makes them well-positioned to take advantage of the opportunities that the F&B industry currently offers. This support will help Legit Group to continue growing rapidly and become one of the leading F&B companies in the world.
