Grab ties up with a cloud kitchen startup to help F&B businesses in Indonesia

Grab announced a partnership with Yummy Corp to help its food and beverage (F&B) business expand across Indonesia and create new delivery-only brands through their combined network of 80 cloud kitchens.

It also aims to help businesses develop new food concepts to be offered on its delivery platform GrabFood, according to a statement.

Photo credit: Grab

The partnership covers three key areas: cloud kitchen and virtual restaurant expansion, the onboarding of Yummy Corp’s partner merchants onto GrabFood, and encouraging F&B innovation in Indonesia.

Grab said that the tie-up builds on the company’s commitment to support the digital transformation of businesses. Last year, the Singapore internet giant contributed nearly half of Southeast Asia’s food delivery gross merchandise value, hitting US$5.9 billion.

Grab Indonesia’s country managing director Neneng Goenadi shared that the company saw an increase in F&B firms on its platform in December last year compared to the start of 2020.

“Our partnership with Yummy Corp not only enables us to more comprehensively support food businesses in their expansion journey, but also opens up more opportunities for entrepreneurs to test new menus and concepts to stay ahead of food trends,” the exec added.

The development follows Grab closing a US$2 billion loan term facility last week.  The company said it plans to use the new capital to further invest in its growth initiatives.

See Also: Beyond FOMO: Why Grab should race to an IPO fast

Grab is also said to be working on a potential US initial public offering that could net it at least US$2 billion. It has reportedly selected Morgan Stanley and JPMorgan Chase to work on its financial debut, which could happen as soon as the second half of this year.