Hangry Announces 188 Billion Rupiah Series A Funding, Led by Alpha JWC Ventures

Culinary startup multi-brand Hangry today (03/5) announced the acquisition of series A funding of $13 million or equivalent to 188 billion Rupiah. This round was led by Alpha JWC Ventures followed by Atlas Pacific Capital, SALT Ventures, and Heyokha Brothers. With the fresh funds obtained, Hangry set a target to carry out national expansion in 2021-2022.

Previously, last year Hangry got $3 million initial funding from Alpha JWC Ventures and Sequoia Capital for their involvement in the accelerator program Arises.

This year the company targets to build more than 120 o and 20+ restaurants dine-in in various cities in Indonesia. Earlier in a media gathering, Hangry's team also said that this year they will execute Strategy omnichannel, integrate distribution channels online-offline.

Since its establishment in early September 2019 by Abraham Viktor, Andreas Resha, and Robin Tan, Hangry currently operates 40 branches in the Greater Jakarta and Bandung areas. They manage brandin-house, starting from Moon Chicken, San Gyu, Koplo Chicken and Dari Pada.

Concept cloud kitchen also implemented in every outlet owned, to produce quality products but at affordable prices. Food/drinks from Hangry can be ordered via GoFood, GrabFood, ShopeeFood, and the Hangry application.

"Not many brand global food and beverage that has a truly quality offering, even from Indonesia. This is our goal. We started from a small shophouse and will continue to expand to big cities in Indonesia and then to Southeast Asian countries. In the long term, Hangry wants to be brand who grew up with consumers, being present in their every moment and making those moments enjoyable," said Hangry Co-Founder & CEO Abraham Viktor.

Abraham added, "Hangry's business concept is multi-brand and multi-channel to bring a wide range of choices in multiple avenues to consumers. Therefore, opening a restaurant for dine-in has been in our plans all along, but we have postponed it due to the pandemic. Last year we decided to focus on the concept cloud kitchen and this has been the key to Hangry's success. Now, people are ready to return to their normal activities, including eating out, and this is the right time to introduce Hangry restaurant."

Meanwhile for Alpha JWC Ventures, sector new retail indeed has its own place in his investment hypothesis. It is evident that apart from Hangry, there are currently several other culinary startups that have received support from them, including Goola, Kopi Kenangan, and Mangkoku.

"As their early investor, what Hangry has achieved so far proves our trust in them from the start. With a focus on customers and effective execution, Hangry has always prioritized excellence in terms of product taste and service experience. In a span of 1,5 years, Hangry successfully launched various brand with a variety of flavors and categories, and almost all of them being the best products with top rankings on various platforms – this is a vivid example of -based innovation product market fit," said Partner at Alpha JWC Ventures Eko Kurniadi.