Legit Group, an Indonesia-based operator and conceptor of multi-brand cloud kitchens, has declared that it has raised a total of $13.7 million.
According to a statement from Legit Group, MDI Ventures, the venture capital arm of PT Telkom Indonesia Tbk, is leading this Series-A round. Other investors include Sinar Mas Digital Ventures (SMDV), East Ventures, and Winter Capital.
Legit Group previously raised $3 million in seed funding in 2021 with the help of East Ventures as the lead investor and participation from AC Ventures.
Legit Group is optimistic about mastering the best marketing strategies in the food and beverage (F&B) product and brand development industry as a result of the funding’s acceleration of growth.
The company has experienced strong growth since the seed funding round, with sales increasing by roughly three times and the successful introduction of one new brand.
“We are thrilled to have a strong group of investors supporting us in creating F&B infrastructure that carries the vision of ‘Food for Everyone’,
“Through the funding obtained from MDI Ventures, Legit Group will strengthen its commitment to bringing more food to various places, while continuing to innovate and improve the technology we have to achieve a more efficient operating system,” said Bram Hendrata, Chairman of Legit Group.
Legit Group, which was founded in 2021, is currently in charge of four well-known brands with locations in over 30 locations all around Jabodetabek: Pastaria, Sei’Tan, Sek Fan, and Ryujin.
The brands owned by Legit Group don’t have any physical locations; instead, they use a cloud-based business model.
Right now, Legit Group’s industry is expanding quickly. Legit Group has recognized the potential of new-generation F&B technology that focuses more on developing F&B brands by utilizing technology to maximize profits. While the majority of regular cloud kitchen business owners concentrate on enhancing their abilities to serve more customers in new areas.
Legit Group thinks that this emphasis will give them a competitive edge in the cloud kitchen market.
