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Hello reader,
I love coffee (shout-out to my dad, who makes me a cuppa on some mornings when we’re both working from home), so when I saw this article about how Indonesia-based coffee tech startup Kopi Kenangan went from a year of losses to a profitable fourth quarter of 2021, I immediately clicked to read it.
What surprised me wasn’t that the company’s recorded monthly revenue this year was higher than its pre-pandemic numbers but that one of the many factors to its success was its rapid geographical expansion – particularly in residential areas.
Image credit: Timmy Loen
It seems only logical: with everyone working from home during the pandemic, setting up shop close to customers ensured that the firm wouldn’t lose too much business. But you have to admit that it takes a special mindset to execute an expansion plan at a time when most other businesses were suffering shutdowns and losses.
With a recession on the horizon, perhaps there’s something the rest of the region’s startups can learn from Kopi Kenangan’s comeback story.
You can find all other important investment deals that happened in the last few days in our weekly funding news wrap-up.
Let’s dive into the biggest deals and M&As that recently took place.
— Nathaniel
The biggest deals by country
🇮🇩 Xendit: The Indonesia-headquartered payment gateway firm bagged US$300 million in series D funding from Accel Partners, Amasia, Coatue Management, EV Growth, Goat Capital, Insight Partners, Intudo Ventures, Kleiner Perkins, and Tiger Global Management.
🇮🇳 Country Delight: The India-based food delivery firm raised US$108 million in series D money from Elevation Capital, IIFL AMC, Matrix Partners India, Orios Venture Partners, SWC Global, Temasek Holdings, Trifecta Capital, and Venturi Partners.
M&As
Startups that are raising funds
Killer pitch decks
Open sesame – but only to the right people
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