East Ventures, Genesia Ventures lead $1m round of Indonesian F&B tech firm

The Runchise team / Photo credit: Runchise

Runchise, an Indonesia-based F&B management and culinary franchise firm, has secured US$1 million in an undisclosed funding round from prior backers East Ventures and Genesia Ventures. It previously raised an undisclosed amount via a seed round in 2022.

According to a report from Mordor Intelligence, the Indonesian foodservice market – including restaurants, cafes, bars, and cloud kitchens – is set to reach US$103.76 billion by 2029, with a compounded annual growth rate (CAGR) of 13.43% from 2024.

While this presents a big opportunity, players in the sector face challenges in optimizing their operations – a pain point that Runchise aims to solve.

The company provides solutions for restaurant businesses such as front-store operations, back-office tasks, integration with online food delivery platforms, and customer engagement. Runchise also uses machine learning to provide a daily sales prediction for each outlet.

With the fresh funds, the firm aims to improve its products, branding initiatives, and expand to more cities in Indonesia.

Founded in 2022 by CEO Daniel Witono and COO Ivana Widjaja, Runchise has hundreds of brands as its clients to date. Some of its competitors in the F&B SaaS space in Indonesia include ESB, Moka, Majoo, and Opaper.

See also: Vietnam, Philippines attract VCs deterred by pricey Indonesian market, but headwinds bring hesitation