Roehl Niño Bautista · · 1 min readVertex backs Indonesian F&B brand’s $24m round
Indonesia-based F&B brand Dailybox Group has raised US$24 million in a series B round led by Northstar Group and Vertex Growth, with Kinesys Group and Vertex Ventures Southeast Asia and India returning.
Photo credit: Dailybox
Co-founded by CEO Kelvin Subowo in 2018, Dailybox started as a rice box provider before moving to food delivery and cloud kitchen services. The firm now operates more than 150 outlets in at least 20 cities in Indonesia.
The company has a multi-brand online setup offering three food lineups: Dailybox for certified halal rice boxes, Shirato for sushi-burrito fusion, and Breadlife for baked goods. It said that it taps chefs from five-star hotels and Michelin-star restaurants for recipes.
Its latest raise will go to local expansion, tech improvement, and brand development.
“Our strategic expansion plan in non-metropolitan cities will also create many jobs to support the local economy and consumers while strengthening our presence nationally,” said Subowo.
Dailybox raised an undisclosed amount for its series A round last year.
See also: These are the most active investors in Indonesia’s startups
Editing by Miguel Cordon and Lorenzo Kyle Subido
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