Alpha JWC Ventures led a US $7.6 million extended Series A investment round for ESB, an Indonesian fully integrated restaurant operating platform.
Beenext, Vulcan Capital, AC Ventures, and Skystar Capital were among the existing investors who contributed.
ESB intends to expand its market footprint with this financing. The additional financing will also aid the firm in developing new AI-based capabilities, as well as improving its business intelligence (BI), delivery, payment, funding, and HR information systems.
Gunawan Woen, Eka Prasetya, Setiadi Prawiryo Moeljadi, and Dwi Prawira founded ESB in 2014. It’s an all-in-one culinary business operations software supplier that connects restaurants’ front-end, back-end, customers, and supply-chain partners. Its aim is to assist food and beverage businesses in increasing profitability via the use of technology to boost sales and operational efficiency.
ESB aims to emulate Toast’s success in the United States, where the company just completed a successful IPO.
MAP Boga Adiperkasa, Ismaya Group, Sour Sally Group, and Marugame Udon are among the more than 500 F&B brands handled by the Jakarta-based business. It promises to handle more than 40 million orders every year.
During the pandemic, ESB grew by 3x year over year, owing to the demand for touchless ordering, which ESB meets through its ESB orders. It already conducts more than $500 million in gross transaction value and is anticipated to double in size in the next two years.
ESB has previously secured US $3 million in funding from Beenext, AC Ventures, Skystar Capital, and Selera Kapital.
“Restaurant business is a combination of manufacturing, trading, and retail. We strive to alleviate the headache of dealing with separate platforms to meet the needs of these different aspects. At the same time, we help businesses generate better customer engagement, optimise their operations, and eventually increase their net profit,” said co-founder and CEO Woen.