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Kopi Kenangan expands Series A round with investment from Jay-Z and Serena Williams

23 December 2019 13:43

JAKARTA - Grab-and-go coffee chain Kopi Kenangan has expanded its Series A funding round with additional investment from Arrive, Serena Ventures, and Sequoia India among others.

Arrive is a Roc Nation company founded by American rapper Jay-Z, while Serena Ventures is owned by American tennis player Serena Williams. Sequoia India led the start of  Kopi Kenangan’s Series A round in June 2019.

“We want to build a legendary brand, and we’re excited to work with our new investors and advisors who have built global consumer franchises spanning sports, entertainment, F&B, and technology,” said Kopi Kenangan CEO and co-founder Edward Tirtanata in an official statement received by IDNFinancials.com, Monday (23/12).

“We have come a long way since our humble beginnings two years back and want to continue learning and improving our service and products to meet the expectations of our customers in Indonesia and other markets.”

Kopi Kenangan currently operates 200 stores across Indonesia, serving over 3 million cups of beverage every month. It plans to open more than 1,000 new stores over the next two years as well as expanding across Southeast Asia. (MS)

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