Indonesian F&B chain in talks to raise $20m round

Haus, an Indonesia-based beverage brand, is in talks with investors to raise US$20 million as part of its series B2 funding round, Tech in Asia understands.

According to industry sources familiar with the development, Haus is currently in advanced discussions with several local and international investors for the fundraise. It looks to close the round by next month.

Photo credit: Haus

The development follows the closing of the F&B chain’s series B1 round announced just four months ago, in which it onboarded strategic investors such as Atlas Global Ventures, Strategic Year Holdings, and Prasetia Dwidharma.

It is understood that Haus is planning to use the fresh capital to fuel its expansion, which will see it launch 300 new stores in Indonesia. Currently, the firm has just over 200 branches across the archipelago.

The company is looking to fully capitalize on the bubble tea market in Indonesia, which, according to a Momentum Works report, is worth US$1.6 billion.

Tech in Asia has reached out to Haus for comments.

Founded in 2018 by Gufron Syarif, who also serves as its CEO, Haus provides made-to-order beverages including tea, milk tea, chocolate drinks, and coffee. It initially targeted the lower-middle segment by offering products at affordable prices, but it has also started to tap into the middle segment.

The company, which says that it has been profitable since its establishment, raised its first institutional funding round in 2020, securing BRI Ventures backing.

It is understood that BRI Ventures topped up in Haus’ series B1 round. The investor has also forged a partnership with its portfolio firm to provide banking services in Haus outlets.

The F&B chain’s plan to accelerate its nationwide expansion comes on the back of significant growth during the first half of 2022. The company recently announced that it recorded a 73% jump in sales after it opened 71 new outlets in the first six months of this year.

While online sales accounted for most of the growth, Syarif said in a statement that offline sales are also showing a “gradual increase.”

Haus is one of the few F&B chains that have secured private capital investments in the last few years. Its peers include Kopi Kenangan, which recently raised US$96 million in series C money, and Jiwa Group, which secured funding from Openspace Ventures and Capsquare Asia Partners last year.

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