Malaysia-based coffee chain Koppiku brews up $2.5m in funding

Photo credit: Koppiku on Instagram

Malaysia-based coffee chain Koppiku has raised US$2.5 million from Vertex Ventures, Reshape Ventures, and others, according to Alternatives.pe, which tracks regulatory filings in Singapore.

The startup’s share price has increased by over 7x from the previous round in August 2023, the data showed.

Tech in Asia has reached out to co-founder Rajiv Bhanot for more details.

Founded in 2023 by Bhanot and Mellisa Lim, the startup aims to make premium coffee accessible to all. Its beverages are priced between 5 ringgit (US$1.07) and 9.90 ringgit (US$2.13), excluding substitutions and add-ons.

Koppiku had launched its maiden store in Kuala Lumpur in September 2023.

The company is backed by prominent figures like Bhanot’s younger brother, Sachin Bhanot, who is Prosus Ventures’ head of investments for Southeast Asia, Australia, and New Zealand.

Koppiku also counts AC Ventures managing partner Hann Yeoh and Antifragile Ventures – backers of Philippines’ Pickup Coffee – as angel investors.

Total coffee consumption has been growing in Malaysia – and as consumption rises, so does competition. Koppiku competes with homegrown as well as international coffee chains in Malaysia such as ZUS Coffee, Gigi Coffee, and Indonesia’s Kopi Kenangan.

See also: Malaysia’s coffee scene heats up as foreign players take on local firms

Currency converted from Malaysian ringgit to US dollar: US$1 = 4.6 Malaysian ringgit.