Wahyoo, an Indonesia-based mom and pop restaurant solutions provider, has raised $5 million in Series A financing. Intudo Ventures led the round with participation from Kinesys Group, Amatil X, Arkblu Capital, Indogen Capital, Selera Kapital, Gratyo Universal Indonesia and Isenta Hioe.
JAKARTA, INDONESIA, August 05, 2020— Wahyoo, an Indonesia-based mom and pop restaurant solutions provider, today announced the closing of a US$5 million Series A round of financing led by Intudo Ventures with participation from Kinesys Group, Amatil X (Coca-Cola Amatil), Arkblu Capital, Indogen Capital, Selera Kapital, Gratyo Universal Indonesia and Isenta Hioe. Wahyoo will use the proceeds to accelerate market expansion and bring on new hires.
Founded in August 2017, Wahyoo is an Indonesian digital ecosystem builder focusing on digitizing and improving the business operations of warung makan—traditional small-scale local eateries and restaurants dedicated to serving Indonesia’s burgeoning working-class population. Wahyoo works directly with local mom and pop eateries to improve and digitize their operations, offering digital tools and services to attract customers, enhance marketing efforts, implement loyalty programs, order and receive groceries, manage financial accounts, and provide educational training on best practices through the company’s Wahyoo Academy. Eateries are also able to earn additional income via advertising and brand partnerships with Wahyoo.
Wahyoo is currently active in the Greater Jakarta Region (Jadetabek), with over 13,500 warung makan presently registered with the company. Wahyoo is led by a seasoned team of entrepreneurs, who have built a number of successful companies in Indonesia following professional stints in Silicon Valley. The founding team includes Peter Shearer as Chief Executive Officer (CEO); Daniel Cahyadi as Chief Operating Officer (COO); and Michael Dihardja as Chief Technology Officer (CTO).
“With this round of financing, we plan to expand our operations to additional cities outside of the Greater Jakarta Region; and make new hires, especially for our tech and product units. We will continue to add new features and services to better meet the needs of warung makan owners, especially improving supply chain systems and financial products, which are designed to help eateries improve margins and gain access to financial service,” said Peter Shearer, Founder and CEO at Wahyoo. “We are grateful for the strategic support of our backers and look forward to helping our warung makan partners create an even bigger impact for both Indonesian business owners and consumers alike.”
“Small-and medium enterprises (SMEs) represent one of the major engines of economic growth in Indonesia and are being transformed through new innovative businesses like Wahyoo, bringing greater economic prosperity to small business owners throughout the country. Through the company’s digitization efforts, Wahyoo’s highly targeted support for warung makan businesses is creating positive economic and social impact for Indonesia’s working class,” remarked Patrick Yip, Founding Partner at Intudo Ventures. “We are excited to support the Wahyoo team in meeting the underserved needs of Indonesia’s local eateries and mass consumers.”
“Coca-Cola Amatil has been operating in Indonesia since 1992. We are proud of our heritage—beginning as a local family business and now a multinational operation with eight manufacturing facilities and a distribution network that reaches all corners of the country. We have been on a digital transformation journey since 2015— investing massively in state-of-the-art systems and technology to support our nation-wide operations. We want to be one of the top players driving the digital ecosystem in Indonesia. Our partnership with Wahyoo will help SMEs overcome the digital barrier and spur growth in Indonesia’s ecommerce industry. We are proud to partner with Wahyoo to help digititise the warung market,” said Kadir Gunduz, President Director, Coca-Cola Amatil Indonesia.
Prior to this round, Wahyoo raised an undisclosed seed financing from Agaeti Ventures, Chapter 1 Ventures, Kinesys Group, SMDV, East Ventures, and Rentracks.
Founded in August 2017, Wahyoo is an Indonesian digital ecosystem builder focusing on digitizing and improving the business operations of warung makan—traditional small-scale local eateries and restaurants dedicated to serving Indonesia’s burgeoning working-class population. Currently active in the Greater Jakarta Region (Jakarta, Depok, Tangerang & Bekasi), with over 13,500 warung makan presently registered with the company.
For more information, please visit https://wahyoo.com/
About Intudo Ventures
Intudo Ventures is an “Indonesia-only” independent venture capital firm with a concentrated portfolio approach capitalizing on the rapid growth of private consumption and rising middle class in Indonesia. The firm acts as the Indonesia beachhead strategy for dozens of leading institutions, VC/PE/hedge funds, and family offices from the United States, North Asia, and Southeast Asia and supports the digital transformation strategy of dozens of leading Indonesian conglomerates. The firm primarily invests in Indonesian homegrown early-stage companies (lead or co-lead Pre-Series A & Series A/B financings, with an initial investment amount of US$1M-5M per company) led by best-in-class “S.E.A. Turtle” returnee and local founders in the agriculture, consumer, education, finance & insurance, health & wellness, and logistics sectors. Intudo portfolio companies include Xendit, Halodoc, TaniHub Group, Kargo, BeliMobilGue, Yummy Corp., Visinema, and more.
For more information, please visit https://intudovc.com/
About Coca-Cola Amatil Indonesia (CCAI)
Coca-Cola Amatil Indonesia (CCAI) is a leading beverage sales, manufacturing, and distribution company that was established in January 1992. CCAI is a subsidiary of Coca-Cola Amatil (CCA), one of the largest Coca-Cola bottlers in the world, which is headquartered in Sydney, Australia, and publicly listed on the Australian Securities Exchange. CCAI operates eight manufacturing facilities in Sumatra, Java and Bali and over 300 sales and distribution centers across Indonesia, employs a direct workforce of more than 9,500 people, and distributes million cases of refreshing drinks to more than 500,000 outlets across the nation. Governed by four integrated sustainability pillars: People, Wellbeing, Environment, and Community—CCAI has been running various CSR initiatives such as Coca-Cola Forest, Coke Kicks, education assistance, blood donor, and City Clean-up, which all grow alongside the business across Indonesia.
For more information about CCAI, visit www.coca-colaamatil.co.id