1. Startups

Lemonilo Enters the Centaur Ranking, Adds to the Long List of Indonesian Startups That Reach Over $100 Million in Valuation

Currently Lemonilo is supported by a number of investors including Alpha JWC Ventures, Unifam Capital, and Seqouia Capital

Startups new economy healthy food product developer Lemonilo recently booked series B funding. Proceeds in the new round further strengthen the company's valuation, to enter the ranks of centaur. From the information we got, Lemonilo's estimated valuation has reached around $300 million or equivalent to 4,3 trillion Rupiah.

About the entry of Lemonilo to centaur, we also get confirmation from one of the parties involved in their investment round.

Lemonilo's current lineup of investors includes Alpha JWC Ventures, Unifam Capital, and Seqouia Capital. Previously, East Ventures was also involved in their initial funding, only now it has been exit.

The startup was initiated in 2015 by three people founder, namely Shinta Nurfauzia, Johannes Ardiant, and Ronald Wijaya. Starting from producing healthy alternatives for instant noodles, now the Lemonilo product category has expanded, including food ingredients, beverages, even up to brand skin care products.

In this segment, Lemonilo does not play alone. There are several startups new economy which also falls into this realm. For healthy noodle products themselves, startup wellness The Fit Company also produces variants of Fitmee products.

Co-Founder & Co-CEO Lemonilo Shinta Nurfauzia in an interview with DailySocial.id revealed, it is undeniable that currently instant noodle products are still the favorite, but they admit that they have a fairly large demand for other products such as snacks.

Product innovation is currently also being the focus of the company, including to present new flavor variants. It was said that so far they have launched more than 40 types of products. All of these products are sold on their own digital platform and are available at more than 100 thousand distribution points in various parts of Indonesia — including utilizing the network reseller which is owned.

From the outset, Lemonilo leveraged its self-developed technology platform – a website and application – for product distribution and promotion.

“The area that still dominates most of Lemonilo's customers is the island of Java. Lemonilo's target by the end of this year is to add more product variants for customers," said Shinta.

He also said that the fresh funds obtained in the last round will be focused on expanding and strengthening its product distribution network in Indonesia, increasing the number of teams, developing and launching new products, as well as developing technology to better serve users.

Lemonilo want to fill market gaps between high-priced imported healthy products and FMCG companies in the market. Every product developed by Lemonilo has three pillars: healthy, practical and affordable. With this standard, every Lemonilo product is ensured to be free from 100+ potentially harmful ingredients (such as preservatives, flavor enhancers, and various synthetic ingredients) that are often found in products. consumer goods other.

More Coverage:

In Startup Report 2020 We recorded that by the end of 2020 there were 43 Indonesian startups that had entered the ranks of the centaurs. Even 6 of them have entered the ranks of late-stage centaurs with valuations above $500 million.

Startup Centaur Indonesia 2020 / DSInnovate

Apart from Lemonilo, this year there were several startups that entered into the valuation. Among them are BukuWarung, Ula, and BukuKas.

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