Indonesian restaurant management firm nets $29m in series B money

ESB, an Indonesian restaurant management platform, has raised US$29 million in its series B funding round led by Northstar Group and Alpha JWC Ventures. Beenext, Vulcan Capital, and AC Ventures participated in the fundraise.

The deal pushed the firm’s total funding round to date to US$39.6 million.

ESB team (from left) Gunawan Woen, Andrew Tiang, Fitriana Dyah, Eka Prasetya, Cornelius Pantow, Bobby Hadiwijaya, and Setiadi Prawiryo Moeljadi / Photo credit: ESB

Founded in 2018, ESB provides a point-of-sale (POS) system, kitchen operations software, and enterprise resource planning (ERP) system for restaurants. It also connects establishments with third-party ingredients suppliers, food delivery services, and digital payments providers.

The company said that it has acquired more than 2,000 food and beverage brands in the country and manages over 100 million orders per year.

ESB was established by Gunawan Woen, Eka Prasetya, Setiadi Prawiryo Moeljadi, and Dwi Prawira. Last year, it raised US$7.6 million in an Alpha JWC Ventures-led series A+ funding round.

The firm plans to use the fresh funding to expand its services to payment solutions, working capital loan disbursement, accounting features, delivery channel management, supply chain management, and human resource management features, among others.

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