Mangkokku, an Indonesian culinary business, earned $7 million in a Series A fundraising round headed by Alpha JWC Ventures and local conglomerate Emtek Group, with Cakra Ventures participating.
Mangkokku, which opened in 2019, serves professional chef-level cuisine in rice bowls. It presently has 50 locations in Greater Jakarta, Surabaya, Bandung, Malang, Semarang, and Solo, with cloud kitchens and brick-and-mortar restaurants. It plans to open 100 stores by the end of this year and another 100 the following year.
The business stated in a statement that revenues had increased by 6x since it obtained US$2 million in initial investment in 2020. During the same time period, the company’s shop count increased, and it currently serves more than 4 million meals every year.
By the third quarter of 2022, the company plans to offer a mobile app with ordering and loyalty features. It has also established Nusantara Culinary Group as a holding company to aid its growth into other culinary items like drinks and packaged sambal.
Randy Kartadinata, a food and beverage entrepreneur, Arnold Poernomo, a judge on the cooking reality programme MasterChef Indonesia, and Gibran Rakabuming and Kaesang Pangarep, sons of Indonesian President Joko Widodo, launched Mangkokku.