East Ventures Provides Initial Funding for Fore Coffee Coffee Startup

Venture capital firm East Ventures is back to being venture builder by announcing seed funding for coffee startup Fore Coffee. Fore Coffee is the third project East Ventures has incubated after Ev Hive (which is now menjadi COCOWORK) and Smart Shop.

Fore Coffee is led by Robin Boe who is also the Co-Founder of Otten Coffee. Otten is an e-commerce platform for coffee-related products which is also get support East Ventures. The first Fore Coffee outlet has been operating since August 2018 and is now serving 1.000 cups of coffee per week.

Fore will be positioned like Luckin Coffee, coffee startup with digital approach, which is a challenge to Starbucks outlets in China. Luckin's implementation is in the form of a prototype of a modern coffee shop that encourages consumers to download applications when they want to order and use mobile payments (electronic wallets).

"Utilizing the network and expertise of Otten, Fore is equipped with high-tech equipment and machinery to deliver the best quality coffee to our customers. We dream of a day where everyone has access to affordable specialty coffee close to them every day and we are excited that we are moving moving on to it steadily," said Fore Coffee CEO Robin Boe.

Fore Coffee will operate their first outlet which is located on the second floor of the Otten Coffee Jakarta store, which is located at Jl Senopati No 77, South Jakarta. The second store is planned to open at Plaza Indonesia this October and will follow other branches in shopping centers and offices.

"Indonesia's technology ecosystem has moved fast with many innovations that are changing our daily lives. In particular the way consumers get their food, it has changed in recent years with the innovation of food delivery services. This sparked a new hypothesis in us that we think we want prove it quickly. Can we cater to new requests with startup design based bottom up which focuses on new innovations in Indonesia? In China, Luckin Coffee answers that question." Willson Cuaca, Managing Partner of East Ventures and Chairman of Fore Coffee.