Kopi Kenangan Revenue, Valuation, Funding & Investors

Kopi Kenangan is valued at $1B as of December 2021, a 5.4x multiple on its last reported $184M revenue.

Last Kopi Kenangan valuation

$1B

Series C · Dec 2021

Last Kopi Kenangan funding round

$96M

Series C · Dec 2021

Kopi Kenangan revenue

$184M

Series C · Dec 2021

Key investors in Kopi Kenangan

  • Peak XV Partners
  • Horizons Ventures
  • B Capital
  • Alpha JWC Ventures
  • Kunlun
  • GIC

Kopi Kenangan Overview

About Kopi Kenangan

Kopi Kenangan is a coffee chain in Indonesia specializing in grab-and-go grounded coffee beverages. Operating numerous outlets in major cities like Jakarta, the company addresses the growing demand for specialty coffee in a nation that ranks as the world's fourth-largest coffee exporter yet has low per capita consumption compared to regional peers.


Founded

2017

HQ

IndonesiaJakarta

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Revenue

$184M (Dec 2021)

Valuation

$1B (Dec 2021)

Kopi Kenangan Valuation

Kopi Kenangan is currently valued at $1B, based on its Series C in December 2021.

The $96M round was led by Tybourne Capital Management, with participation from Horizons Ventures, B Capital, Kunlun and Alpha Wave Global.

Kopi Kenangan's valuation has grown 1.7x from $577M at its Series B in May 2020 to $1B in December 2021, across 2 priced rounds.

Kopi Kenangan valuation by funding round

Revenue multiple
Kopi Kenangan valuation by funding round
DateStageValuationRevenue Multiple
Dec 2021Series C$1B5.4x
May 2020Series B$577M-

Kopi Kenangan Revenue

Kopi Kenangan's latest recorded revenue is $184M, as of its Series C in December 2021. At a $1B valuation, that implies a 5.4x revenue multiple.

Kopi Kenangan revenue by funding round

Kopi Kenangan revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Dec 2021$184M$1B5.4xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Kopi Kenangan Funding History

Kopi Kenangan has raised a total of $333M across 4 funding rounds.

Kopi Kenangan's first fundraising round was a $8M seed round in October 2018. The most recent completed round was a $96M Series C in December 2021.

Kopi Kenangan funding rounds

Kopi Kenangan funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2021Series CTybourne Capital Management (lead); Horizons Ventures; B Capital; Kunlun; Alpha Wave Global$96M$1BKopi Kenangan, Indonesia's leading grab-and-go coffee chain founded in 2017, achieved unicorn status with a valuation of $1 billion in the first closing of its oversubscribed Series C funding round on December 27, 2021, raising $96 million led by Tybourne Capital Management, with participation from Horizons Ventures, Kunlun, B Capital, and new investor Falcon Edge Capital (also referred to as Alpha Wave Global in some sources). The company had previously raised over $240 million cumulatively from investors including Sequoia Capital India, Verlinvest, Sofina, and others, with a prior $109 million round in 2020. Operating a tech-enabled model with its own top-rated mobile app and presence on platforms like GoFood and GrabFood, Kopi Kenangan navigated the Covid-19 crisis effectively. By late 2021, Kopi Kenangan had expanded to over 600 stores across 45 cities in Indonesia, serving 40 million cups of coffee in the prior 12 months and projecting 5.5 million cups per month in Q1 2022. It diversified into food with brands like Cerita Roti for bread, Chigo for chicken on the go, and Kenangan Manis for soft cookies, driving year-on-year sales growth that more than doubled. The funding supports ambitions to scale to thousands of stores across Southeast Asia and become the most-loved consumer brand in the region, leveraging entrepreneurial spirit, F&B expertise, and technology for customer engagement and efficiency. The Series C marked Kopi Kenangan as Indonesia's newest unicorn amid a booming Southeast Asian F&B market, positioning it as a rival to Starbucks with rapid store growth from fewer than 100 pre-2020 to over 600. Later developments include backers like GIC and Peak XV (formerly Sequoia Capital India/SE Asia) exploring stake sales in 2025 at a potential $1.2-1.4 billion valuation, with the chain reaching over 800 stores by then.
May 2020Series BPeak XV Partners (lead); Victor Koch; Verlinvest; GIC; Alpha JWC Ventures; Horizons Ventures; Arrive; B Capital; Kunlun; Sofina$209M$577M-
Jun 2019Series APeak XV Partners (lead); Analog Capital$20M-Kopi Kenangan is an Indonesian coffee chain founded in 2017, operating a tech-enabled 'grab-and-go' model with a mobile app for quick orders, expanding to over 800 outlets across 45 cities in Indonesia and entering markets like Singapore, Malaysia, and India. The company focuses on authentic Indonesian coffee flavors, frappés, teas, and refreshers, positioning itself as the leading local coffee brand by equity per recent research. It has raised $233M across 5 rounds from 14 investors including Peak XV Partners (formerly Sequoia Capital India/Southeast Asia), Alpha JWC Ventures, GIC, Alpha Wave Global, Horizons Ventures, and others. Later developments include a 2021 Series C of $96M and secondary stake sale talks at $1.2B-$1.4B valuation. Current traction includes $200M run-rate annualized revenue, top F&B app status in Southeast Asia by active users, and 30% of business via its app.
Oct 2018SeedAlpha JWC Ventures (lead)$8M-Kopi Kenangan raised an $8 million seed funding round led by Alpha JWC Ventures in October 2018. The Indonesia-based coffee chain, founded in 2017 by Edward Tirtanata and James Prananto, offers high-quality, affordable coffee with local flavors like Es Kopi Kenangan Mantan, alongside Asian drinks such as Thai tea and teh tarik. It operates a 'new retail' model combining app-based pre-orders, delivery, and kiosks to appeal to young, tech-savvy consumers, positioning between premium chains like Starbucks and street vendors. At the time of the seed round, Kopi Kenangan had 16 stores and served 175,000 cups of coffee per month. The funding supported early expansion in Indonesia's growing coffee market.

Who has invested in Kopi Kenangan?

13 investors have backed Kopi Kenangan across its funding rounds, including Peak XV Partners, Horizons Ventures, B Capital, Alpha JWC Ventures, Kunlun and GIC.

Lead investors include Tybourne Capital Management, Peak XV Partners and Alpha JWC Ventures.


Kopi Kenangan Investors

Investors in Kopi Kenangan by funding rounds participated
InvestorHQRoundsRoleFirst check
Alpha JWC VenturesIndonesiaJakarta2LeadOct 2018
Horizons VenturesHong KongHong Kong2ParticipantMay 2020
B CapitalUnited StatesLos Angeles, CA2ParticipantMay 2020
KunlunChinaBeijing2ParticipantMay 2020
Peak XV PartnersIndiaBangalore2LeadJun 2019
Analog CapitalSingaporeSingapore1ParticipantJun 2019
Tybourne Capital ManagementHong KongHong Kong1LeadDec 2021
Victor KochHong KongHong Kong1ParticipantMay 2020
VerlinvestBelgiumBrussels1ParticipantMay 2020
GICSingaporeSingapore1ParticipantMay 2020
ArriveUnited StatesNew York City, NY1ParticipantMay 2020

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Investments by Kopi Kenangan

Kopi Kenangan has invested in 5 companies to date.

Latest investment by Kopi Kenangan was on June 2nd 2022. Kopi Kenangan invested in Eratani in their $2M Pre-seed round.


Latest Investments by Kopi Kenangan

Eratani
Atma
DELOS
Broom
Description
Eratani is an Indonesia-based agritech company building a digital agricultural ecosystem. It connects farmers with technology for productivity enhancement, supply chain transparency, and partnerships with food and beverage firms to bolster national food security.
Atma is an Indonesia-based social job platform connecting job seekers and employers through community-driven recommendations. Operating primarily in Jakarta, the service facilitates hiring in tech, creative, and service industries with features for verified profiles and peer endorsements.
DELOS is an Indonesia-based aqua-tech company operating shrimp aquafarms with AquaHero productivity system and AquaLink logistics platform. It produces thousands of tons annually for the global seafood market focusing on traceability and sustainability.
Broom is a fintech platform enabling automotive dealers in Indonesia to secure short-term financing by collateralizing vehicle inventories. The service connects dealers with lenders through a digital marketplace, streamlining loan approvals for new and used car stocks. Operating primarily in Jakarta and Surabaya, Broom supports over 5,000 dealers nationwide with rapid funding options up to IDR 500 million per loan. Launched to address capital gaps in the automotive sector, the platform integrates inventory management tools and real-time valuation of vehicles based on market data.
HQ CountryIndonesiaIndonesiaIndonesiaIndonesia
HQ City
Jakarta
Jakarta
Jakarta
Jakarta
Deal Date2 Jun 20228 May 202223 Mar 202225 Feb 2022
RoundPre-seedPre-seedSeedPre-seed
Raised$2M$5M$8M$3M
InvestorsEdward Tirtanata; Benedicto Haryono; Kopital Network; Trihill Capital; Vidit Agrawal; Tobias Fischer; John Rasjid; James PranantoMMS Group; Ula; Lummo; Global Founders Capital; AC Ventures; Goto Gojek Tokopedia; Sampoerna Strategic; Advance Intelligence GroupAnalog Capital; MDI Ventures; ARISE; Mandiri Capital Indonesia (MCI); Irvan Kolonas; Alpha JWC Ventures; Number Capital; Mahanusa Capital; iSeed; Unruly Rebels Pte Ltd; Centauri FundLummo; AC Ventures; Quona Capital
Valuationundisclosedundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Kopi Kenangan Competitors

Kopi Kenangan competitors include listed companies like Scandi Standard and Toly Bread, and private ones like Country Delight, Rebel Foods, Blank Street and Naixuecha.

Public and private companies comparable to Kopi Kenangan
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Country DelightIndiaGurgaonPrivate$148M-$820M5.5x
Rebel FoodsIndiaMumbaiPrivate$173M-$1.4B8.1x
Blank StreetUnited StatesNew York City, NYPrivate$150M-$650M4.3x
NaixuechaChinaShenzhenPrivate$725M-$1.8B-
Scandi StandardSwedenSwedenPublicly listed$1.4B$103M$1B0.8x
Toly BreadChinaChinaPublicly listed$812M$123M$997M1.4x

Kopi Kenangan Public Comps

Kopi Kenangan is still privately-owned, but its public comps include Scandi Standard, Toly Bread, Wetherspoons, AGT Food and Ingredients, Ohsho Food Service, Cobram Estate Olives, Cracker Barrel, Grupo Herdez, Armada Gida and Domino's Pizza Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Scandi Standard$1.4B$103M0.9x0.8x12.3x10.3x
Toly Bread$812M$123M1.4x1.4x9.4x9.2x
Wetherspoons$2.9B$358M0.9x0.9x7.2x8.0x
AGT Food and Ingredients$59M$56M18.1x0.5x18.9x7.5x
Ohsho Food Service$751M$89M1.1x1.2x9.7x-
Cobram Estate Olives$191M$7M7.1x5.8x183.3x23.6x
Cracker Barrel$3.5B$193M0.6x0.6x10.6x15.9x
Grupo Herdez$2.2B$440M0.7x0.9x3.6x5.8x

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Common questions about Kopi Kenangan

When was Kopi Kenangan founded?Kopi Kenangan was founded in 2017.
Where is Kopi Kenangan headquartered?Kopi Kenangan is headquartered in Jakarta, Indonesia.
Is Kopi Kenangan publicly listed?No, Kopi Kenangan is a private, VC-backed company.
What is Kopi Kenangan's valuation?Kopi Kenangan was last valued at $1B in its Series C in December 2021.
How much funding has Kopi Kenangan raised?Kopi Kenangan has raised $333M across 4 funding rounds.
What was Kopi Kenangan's last funding round?Kopi Kenangan's last funding round was a $96M Series C in December 2021, led by Tybourne Capital Management.
Who are Kopi Kenangan's investors?Kopi Kenangan's investors include Alpha JWC Ventures, Horizons Ventures, B Capital, Kunlun, Peak XV Partners, Analog Capital, Tybourne Capital Management, Victor Koch, Verlinvest, GIC and 3 others.
What is Kopi Kenangan's revenue?Kopi Kenangan's latest recorded revenue is $184M (December 2021).
What is Kopi Kenangan's revenue multiple?Kopi Kenangan's latest valuation implies a 5.4x revenue multiple ($1B valuation on $184M of revenue).
Which companies are comparable to Kopi Kenangan?Companies comparable to Kopi Kenangan include Country Delight, Rebel Foods, Blank Street, Naixuecha, Scandi Standard and Toly Bread.
How many companies has Kopi Kenangan invested in?Kopi Kenangan has invested in 5 companies, including Eratani, Atma, DELOS, Broom and Dropezy.
What was Kopi Kenangan's last investment?In June 2022, Kopi Kenangan invested in Eratani's $2M pre-seed round alongside Edward Tirtanata, Benedicto Haryono, Kopital Network and 5 other investors.

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