JumpStart Raises Series B Funding Led by Cool Japan Fund and Living Lab Ventures

Developer startup coffee vending machinesjump start raised Series B funding at an undisclosed amount, led by Cool Japan Fund (CJF) and Living Lab Ventures. Previously, JumpStart received series A funding from GDP Venture in 2018.

In his official statement, JumpStart CEO Brian Imawan said that his party would increase the number and variety of vending machines and update technology so as to increase user loyalty. It is ready to expand to several other big cities, such as Java and Bali, in the middle of this year.

"JumpStart wants to realize its mission to provide a more attractive shopping experience for consumers. Recruiting a quality team is also our focus in developing JumpStart's business to be more competitive in the Indonesian market," said Brian.

Meanwhile, PR Representative Cool Japan Fund Hashimoto added that this investment could support the company's efforts to expand sales of goods from Japanese producers, such as snacks and drinks, in Indonesia.

"We will support efforts to communicate the attractiveness of Japanese food and beverage products in collaboration with related companies. This investment also aims to strengthen business relations between Japan and Indonesia, as well as provide benefits for both countries to increase economic growth in both countries."

CJF assesses that Japanese food and drinks are very popular in Indonesia, as can be seen from the number of Japanese restaurants. Japanese sweet foods are also in great demand by Indonesian tourists there. At the same time, the supply of Japanese food in Indonesia is very limited so it is difficult to get it at affordable prices.

Overseas expansion

Furthermore, JumpStart also announced its plans to expand overseas in 2025. Through this expansion, JumpStart will start a business as a marketer smart coffee machine which can serve more than 20 coffee and non-coffee menus, such as chocolate and matcha tea.

Is known, jump start is a developer of automated marketing machine technology. In 2017, JumpStart provided 500 machines, and now it has reached 2000 machines. They also produce their own coffee labels which are now available in 25 types of coffee.

Not just coffee, JumpStart is also starting to offer coffee vending machine for snack products, medicines, cosmetics, fashion, and pet food. It claims to have recorded positive EBITDA with revenue growth of more than 400% throughout 2022. This positive performance growth is due to high market demand post-pandemic.

"Together with the team engineer and the internal creative team, we have prepared several new breakthroughs by creating several interesting latest machines including products private-label in it which we believe will make things easier and provide a new experience for our customers," concluded Brian.