Aditya Hadi Pratama · · 2 min readIndonesian cloud kitchen firm served $22m to fuel expansion
Indonesia-based Hangry, a culinary startup with a cloud kitchen and multibrand concept, has raised US$22 million in a series A round that consisted of equity and debt funding.
Journey Capital Partners led the equity investment, with participation from Orzon Ventures, Sassoon Investment Corporation, and Alpha JWC Ventures. Meanwhile, debt funding came from Genesis Alternative Ventures and InnoVen Capital.
Hangry co-founders (from left) Andreas Resha, Robin Tan, and Abraham Viktor / Photo credit: Hangry
Hangry operates several culinary brands such as Moon Chicken, San Gyu, and Ayam Koplo, which can be ordered from through its own app or other food delivery services. It has also made acquisitions to expand its offerings, starting with Indian food brand Accha.
In a statement, Hangry said that it sells one million portions of products per month. “We expect the number to be tripled by the end of this year,” CEO Abraham Viktor told Tech in Asia.
It currently has more than 70 outlets in Greater Jakarta, Bandung, Surabaya, Semarang, Medan, and Makassar. The company aims to open between 15 to 30 more outlets this year, as well as launch or acquire three more food brands.
Viktor founded the culinary firm in 2019, along with Andreas Resha, and Robin Tan. In May 2021, it raised US$13 million in the first tranche of its series A funding round led by Alpha JWC Ventures.
Hangry plans to use the new funding to grow its in-house brands, make more acquisitions, and expand to other cities in Indonesia. It also aims to enter international markets in 2024.
See also: These are the most active investors in Indonesia’s startups
Editing by Miguel Cordon and Lorenzo Kyle Subido
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