1. Startups

Dailybox On-demand F&B Startup Receives Series A Funding Led by Vertex Ventures

Currently, Dailybox service is available in several cities in Java, North Sumatra, and Bali

Dailybox, F&B startup on-demand, announced the acquisition of a series A investment led by Vertex Ventures SEA. This round was also supported by Kinesys Group. Although not mentioned in the official release, the source DailySocial said the funds raised were close to $3 million (nearly 43 billion Rupiah).

Co-Founder and CEO Dailybox Kelvin Subowo said that his party welcomed this funding with great enthusiasm. The company plans to focus on accelerating business expansion throughout Indonesia and developing a centralized kitchen system (central kitchen) in order to continuously improve the quality of service to consumers.

“Currently Dailybox has been present in several cities in Java, North Sumatra, and Bali. In August, we plan to open our first outlet in Pontianak. [..] We hope Dailybox can become brand The biggest local F&B that can introduce Indonesian food not only in Indonesia, but also Southeast Asia and even the whole world,” he explained, Thursday (22/07).

Senior Executive Director of Vertex Ventures SEA Gary Khoeng added, “When investing, we always look for startups that have the potential to become regional champion candidates. In the midst of the current uncertainties, we see Dailybox consistently performing well in this industry.”

Business growth and the impact of the pandemic

Kelvin added, the pandemic that has occurred since last year has indeed had a tremendous impact in many aspects, including the F&B industry. However, this condition did not hinder Dailybox's business growth. Last March, big income (gross revenue) of companies as a group grew by 700% YOY.

Dailybox sales turnover rose 80% from food delivery service online. This figure is in line with the company's main focus on food delivery services.

In addition, in less than a year, the increase in outlets also grew drastically by 300% to hundreds of outlets in the first semester of 2021. The achievement made Dailybox a F&B brand with a network of cloud kitchen most in Indonesia. “We will double the number of outlets by the end of this year.”

The startup, which was founded in 2018, is part of The Daily Group (PT Sendok Garpu International). This group houses several other F&B brands such as menu sushi-to-go, Shirato, and refreshments, Anytime. Dailybox presents a variety of affordable home cooking menus that are suitable for the tongue of the Indonesian people.

The company collaborates with Head well-known brands, such as Juna Rorimpandey and Renatta Moeloek, present 30 diverse menu choices. In carrying out its operations, Dailybox implements a centralized kitchen system to maintain the quality of its food and collaborates with operators cloud kitchen as GrabKitchen, YummyKitchen, and Dailybox's individual partner, DailyPartner.

Platform driven food delivery

Presence food startup driven by rapid business growth food delivery which is their distribution infrastructure -- including on the payment side for services food delivery who dominate the market in the form of great app.

More Coverage:

According to the data compiled Momentum Works, as of 2020 the growth of the food delivery business in Southeast Asia has reached 183%. This increase is supported by an instant delivery service ala Grab, Gojek, Foodpanda, Deliveroo, etc. This business has posted a GMV of $11,9 billion with a growing trend.

Food delivery business growth in Southeast Asia / Momentum Works

Specifically for the Indonesian market, in 2020 the GMV recorded for delivery services reached $3,7 billion with service domination GrabFood (53%) and GoFood (47%).

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