Alpha JWC Ventures Provides 121 Billion Rupiah Funding for Kopi Kenangan

Alpha JWC Ventures disbursed $8 million (equivalent to 121,6 billion Rupiah) for the Kopi Kenangan network. Already operating in sixteen points in Jakarta, Kopi Kenangan is coffee chain with concept "grab-and-go" which is growing rapidly. The business was founded in August 2017 by two founders, namely Edward Tirtanata and James Prananto.

After the funding, Kopi Kenangan targets the expansion of its stores to 30 locations before the end of 2018. And next year it will carry out further expansion to produce 100 shops in various regions. The founder is quite confident with this target, because currently the average sales have reached 175 thousand glasses per month. In addition, funding will also be focused on research and application development activities.

Co-Founder & CEO, Edward Tirtanata, said that the secret of his business is not only in the location/number of shops, but in the quality of product ingredients and recipes served. The presence of Kopi Kenangan is also to break the dominance of foreign brands with relatively expensive prices for coffee products in urban areas.

Presence Alpha JWC Ventures will also provide support from the technology side to accelerate business. According to the Co-Founder & Managing Partner of Alpha JWC Ventures, Jefrey Joe, technology plays a role in building a sustainable consumer sector.

"Kopi Kenangan is a great example of how technology has the potential to help fast-growing coffee chains scale larger and create a better customer experience," said Joe.

"We see Kopi Kenangan not only as a small coffee shop business, but something that can grow into a big business with the New Retail concept through technology support. Therefore, we decided to partner with Alpha JWC Ventures which has expertise in technology and scale-up," Edward explained.

The "New Retail" concept, according to Co-Founder and COO James Prananto, will be embodied in application development. mobile devices. Some of the features that have been planned include for store search, pre-order, payment support, and so on. The point will be to focus on a more modern user experience.

With almost the same approach, previously East Ventures also did a similar move. They invest in coffee startups ForeCoffee. In addition to providing funding, they will also provide incubation, especially to start a digital approach in the sales process.