Thirsty! Pockets Series B1 Funding, Steady Steps Towards IPO

Launched in 2018 as a F&B startup in the product segment new tea & boba, thirsty! currently has about 200 o spread across Jabodetabek. Implementing a business model "cost leadership", since the beginning the company strives to consistently maintain product quality.

To be relevant to its market share, o also designed with the feel of a lifestyle and flavored with products at affordable prices.

To DailySocial.id, Co-Founder & CEO of Haus! Gufron Syarif revealed, inspired by China, the product new tea & boba targeting the lower middle class has great potential. He also considered that there was the same potential in Indonesia. It turned out that the hypothesis related to the F&B business was well validated in the market. Likewise in the eyes of investors.

Not long ago, Thirsty! again pocketed fresh funds in the series B1 round of several angel investors such as Rama Notowidigdo representing Ubi Capital and Arya Setiadharma representing Prasetia Dwidharma. A number of venture capitalists were also involved, including Strategic Year Holdings and Atlas Global Ventures.

The fresh funds will be focused on accelerating business growth and realizing the company's goals for an immediate IPO.

"We realize that if the company wants to run fast, the ideal is to get funding through VC. We hope that we can use the fresh funds to develop the business and move faster towards the IPO. The company also has a target to have around 1000 o, simultaneously positioning Thirsty! as brand leader for this market category," said Gufron.

Previous Thirsty! also got series A pendanaan funding 30 billion Rupiah from BRI Ventures through the Sembrani Nusantara Fund. After receiving the injection in 2020, Haus! recorded a 54,5% increase in sales from $11 million (156 billion Rupiah) in 2020 to $17,53 million (252 billion Rupiah) in 2021.

Launched the app, targeting 20% ​​transaction acquisition

As part of the plan, next July Haus! will launch the app mobile devices premiere. Partnering with third party logistics lalamoveThis application is expected to provide more benefits, including more intensive data management.

Currently, the company records about 60% of transactions originating from marketplace. According to Gufron, this has helped them to carry out distribution, but it would be ideal if the company also had its own data and delivery options through the application.

"We are targeting that by 2025 around 20% of transactions can be obtained through our own application. Looking at the current dynamics, partnerships with marketplace indeed very helpful but in the future we see there will be changes in terms of commission and other policies imposed by marketplace to us," said Gufron.

With approach cost leadership, thirsty! likened to low cost budget airlines, whose services and products can be enjoyed by all people. Although they consistently provide the best product quality, they strive to remain affordable for the price, targeting the lower middle segment.

Another business strategy that is also claimed to have had a positive impact is that from the start they did not run operations properly franchise or franchise. According to Gufron, running their own operations makes it easier for them to maintain quality and control operations. In the long term, a concept like this can also make the business more sustainable.

o modern and minimalist

To be able to reach more customers, Haus! deliberately build o in a variety of different locations. Starting from housing, schools, to public transportation locations such as KRL stations. Although it doesn't have a wide location and is only in the form of a o simple, but a strategy like this is able to grow transactions utilizing delivery from marketplace.

"Unlike other similar products in the more middle-upper category, we do not place our outlets in premium shopping centers. Later, if indeed Haus! has plans to launch o new to template, what we choose is a place to shop that falls into the lower middle category," said Gufron.

It is very familiar among the people enjoying contemporary drinks, making the business that is applied to Haus! and other similar products can run more smoothly. Acceleration during the pandemic has also helped them expand o more in number. By Gufron category new tea & boba and coffee chain when dug deeper marketsizeis worth 10 trillion Rupiah.

"The frequency of purchase when compared to China which is more routine, even makes drinks in this category a dessert or dessert. In Indonesia, we have started to get there, shifting from a trend to a habit," said Gufron.