Since obtaining its seed funding round from East Ventures and AC Ventures in 2021, Legit Group has uplifted its sales up to threefold within a month.
Heaptalk, Jakarta — A multi-brand cloud kitchen operator, Legit Group, announced its completion of new funding in a Series A round worth US$13.7 million, or approximately Rp205.3 billion. A venture capital firm of PT Telkom Indonesia Tbk, MDI Ventures, led this investment round, with participation from Sinar Mas Digital Ventures (SMDV) and Winter Capital.
Legit Group will manage the fresh injection to present more comprehensive food preferences in multiple areas while enhancing its technology infrastructure to gain a more efficient operating system. Previously, Legit Group raised its seed funding worth US$3 million, or nearly Rp43 billion, from East Ventures and AC Ventures in 2021.
The new funding accomplishment would also strengthen the optimism of Legit Group to dominate the market through an adequate marketing strategy in the Food and Beverage industry. Since its seed funding round, Legit Group has uplifted its sales up to threefold within a month.
In response to this new achievement, The Chairman of Legit Group, Bram Hendrata, voiced, “We are excited to have a strong group of investors to support us in creating a brand that carries the vision of ‘Food for Everyone.’ Through support from various parties, a strategic approach, and our commitment to product quality excellence, we are confident to continue to produce relevant products with the highest quality throughout Indonesia‘s regions,”
Amidst uncertain macroeconomic conditions, Legit Group sets its main priority to achieve economic balance while continuing to retain a more healthy economy. To achieve this goal, this cloud kitchen platform plans to expand in 2023 by targeting the Jakarta Greater Area and other cities, with a tremendous shipping market potential, after previously 95% of Legit Group outlets were still spread across several points in the Jakarta regions.
Perceiving Legit Group’s founder experience in the Food and Beverage (F&B) business for about 15 years, the CEO of MDI Ventures, Donald Wihardja, has powerful confidence to amplify this startup position in the F&B industry and accelerate their business growth.
“This collaboration is expected to establish synergy positively. This investment is also one of the strategic endeavors of MDI ventures to deliver a positive social impact towards the growth of Indonesia‘s agricultural sector,” concluded Donald.
Established in 2021, this cloud kitchen operator has managed multiple leading brands, spanning Pastaria, Sei Tan, Sek Fan, and Ryujin, which are spread over 30 locations around the Jakarta Greater Area. Uniquely, the brand under the Legit Group does not have an offline site but operates using a cloud business model.
Currently, Legit Group’s business has developed significantly. Most new regular cloud kitchen business owners focus on increasing their ability to serve customers in new areas. Legit Group has observed potential in the new generation of F&B technology that focuses more on brand development to maximize business profitability. For this reason, the company believes this focus would generate a competitive advantage in the cloud kitchen market.
