Ismaya Group Receives 266 Billion Rupiah Funding Led by East Ventures

Companies engaged in the F&B and industry lifestyle Ismaya Group announced the acquisition of funding of $18,1 million or equivalent to 266 billion Rupiah led by East Ventures. Previous investor, Falcon House Partners participated in this round.

It is planned that this fresh fund will be used to expand its business reach in the F&B retail area, exclusive lifestyle products, and food delivery services. In addition, the company will also optimize the use of technology in accelerating business growth through personalization.

Established in 2003, Ismaya started the business by opening its first outlet that focuses on the entertainment industry in the South Jakarta area. After that, the F&B sector gradually began to enliven with restaurants such as Pizza e Birra, Kitchenette, Public Markette, Tokyo Belly, and others.

Then they spread their wings to the industry promotional events with Ismaya Lieve. Under the banner of Ismaya, various top artists have shown their actions on the stage of Indonesian music festivals. Music festivals such as the Djakarta Warehouse Project and We The Fest have successfully become annual events that attract interest throughout Southeast Asia.

To date, Ismaya Group has become one of the market leaders with more than 100 locations including top restaurants, lounges and festivals.

Ismaya Group CEO Bram Hendratta reveals the fact that many people have lost human touch and physical interactions for more than two years imprisoned by lockdown due to the pandemic. This greatly affected the F&B industry and lifestyle, especially the experience of eating on the spot or attending a festival. He sees now is the moment to be able to revive this interaction.

Roderick Purwana as Managing Partner of East Ventures said he believes in brand and operational capabilities that Ismaya has built over the years. They have successfully built a business lifestyle, not only in Indonesia but also abroad.

"We have witnessed the resilience of the team in navigating and overcoming crises; now that we are all moving towards a return to normalcy and out of the pandemic, we are confident in the growth and excitement that the Ismaya Group will bring in the future," he said.

East Ventures portfolio in the F&B industry

Founded in 2009, East Ventures, which has its head office in Singapore, has turned into a holistic platform that provides multi-stage investments, including seed and growth for more than 200 companies in Southeast Asia.

Based on the latest report released by DSInnovate titled "Startup Report 2021", East Ventures topped the rankings in terms of the quantity of participating funding in the 2022 quarter with 22 funding rounds. This statistic is not much different from the results in 2021.

As the most active VC in Southeast Asia, East Ventures is sector agnostic. Almost all sectors in the country's technology industry have been penetrated by the EV network, including one that is quite large too, F&B. Prior to Ismaya Group, East Ventures had disbursed funds for several names including YummyCorp, Kulina, Greenly, and the Legit Group that recently received initial funding.