Lemonilo Gets Series C Funding Worth 516,2 Billion Rupiah

Healthy food development startup Lemonilo received a series C funding of $36 million or around 516,2 billion Rupiah led by Sofina Ventures SA, as well as re-participation from Sequoia Capital India. Through this funding, Lemonilo will strengthen its distribution network in Indonesia and expand its products overseas.

In his official statement, Co-Founder & Co-CEO Lemonilo Shinta Nurfauzia said that the company has proven its business model to work effectively in Indonesia. Therefore, Lemonilo plans to duplicate this business concept to other countries, starting from neighboring countries, such as Malaysia and Singapore.

"With Sofina's expertise in working with established FMCG companies, we believe Lemonilo can become one of the new faces of FMCG companies in Indonesia and its surroundings," said Shinta.

Sofina Ventures member of the Executive Committee Maxence Tombeur said that this is a strategic investment that is in line with Sofina's values. "Lemonilo is a pioneer of the healthy living movement in Indonesia with the goal of becoming the world's leading FMCG brand. We are delighted to partner with Lemonilo's ambitious and mission-motivated founders, and aligned with its long-standing strategy of offering affordable access to healthy food and products in Indonesia and beyond. , said Tombeur.

For your information, Sequoia Capital India previously led series B funding in Lemonilo for an undisclosed amount in the second half of 2021. From the information we have gathered, this funding boosted Lemonilo's valuation by $300 million or around Rp. 4,3 trillion, while strengthening its position in the startup ranks. centaur.

Thus, Lemonilo's investor lineup now consists of Alpha JWC Ventures, Unifam Capital, Sequoia Capital India, and Sofina Ventures SA. Previously, East Ventures was involved in Lemonilo's initial funding, but now it has been exit.

Overseas expansion

Lemonilo is known as a startup new economy which produces alternative healthy food products. Founded in 2016 by Shinta Nurfauzia, Ronald Wijaya, and Johannes Ardiant, Lemonilo utilizes self-developed platforms, both websites and applications, to distribute and promote its products.

To date, Lemonilo has now launched more than 40 types of products, such as instant noodles, snacks, and spices, which are sold on its own platform at more than 200 thousand Point of Sales (POS) in Indonesia, including through reseller.

Lemonilo Co-CEO Ronald Wijaya revealed that Lemonilo will continue to focus on working on its main market while innovating new products. His party will strengthen Lemonilo's distribution network to strengthen its position on a national scale. This is in line with Lemonilo's mission to provide access to a healthier lifestyle for the people of Indonesia.

"We believe that more and more people want to live healthier, especially since Covid-19 hit our country. We hope that more and more Indonesians will adopt a better lifestyle through practical, delicious and affordable products," said Ronald.

In his interview with DailySocial.id some time ago, Shinta revealed that he was focusing on strengthening the product distribution network, increasing the number of teams, and launching new products.

According to Shinta, Lemonilo wants to fill gap market between the demand for high-priced imported healthy products and the number of existing FMCG companies. Lemonilo ensures its production is free from more than 100 potentially harmful ingredients, such as preservatives, flavor enhancers, and various synthetic ingredients, which are often found in many products. consumer goods.

As is known, the Covid-19 pandemic has pushed changes in people's food consumption in Indonesia. Quotes Align, Femina's survey in early 2021 noted that 82% of 300 respondents changed their diet during the pandemic. Meanwhile, 62% of them change their diet to maintain their health.