1. Startups

Restaurant Recommendation Site Abraresto Announces USD 1,5 Million Funding From Indonesian Investors

Not long since first appearance in October 2013 yesterday, culinary recommendation site, Abraresto has now announced that it has secured funding for the first time. The amount of funding achieved was USD 1,5 million or equivalent to more than Rp 18 billion. This funding will later be used for the long-term development of Abraresto services in Indonesia.

Officially announced through a press release that we received on Wednesday (29/1), the funding obtained came from a number of investors in Indonesia who were not named. The statement does not provide details of funding but it says they are a group of Indonesian families directly affiliated with some of the largest private companies in Indonesia.

Carrington Liem, as one of the investor partners, is optimistic about the development of Abraresto, which he considers to be very potential for the Indonesian market. “From the first time we met with Ankur and his team, we firmly believed in the need for a concept like this in Indonesia. After a few months of getting to know the team better, our confidence has grown even stronger and we look forward to working with Abraresto and developing Abraresto into the largest food search platform in Indonesia,” said Carrington.

According to Ankur Mehrotra as CEO of Abraresto, the inclusion of investors and Carrington Liem can improve the quality of Abraresto's business. “We are very pleased to have Carrington and the team in our ranks. They operate in relevant fields such as retail, telecommunications services and hospitality. We really hope to be able to work with them,” said Ankur.

As previously stated, the funds obtained by Abraresto will be allocated for the development of Abraresto, both from business development and personnel recruitment. Also conveyed in a press release, in the near future Abraresto will begin to expand its services to a number of regions and cities in Indonesia. Ankur also admitted that his party is currently opening the opportunity to join Abraresto, which now has 20 staff.

From this first series of funding, the map of competition between similar service providers will be more vibrant, especially with the new "ammunition" owned by Abraresto. Qraved which in the last year also just booked funding, followed by Zomato, are two competitors who are quite active in setting foot in Indonesia and will provide a fairly tight competition in the scope of searching for food via the internet this year.

 

[photo illustration: Shutterstock]

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