Tech-enabled coffee chain Flash Coffee has raised US$15 million in its Series A funding led by White Star Capital, aiming to launch 300 stores this year.
The Series A round sets the total capital raised by Flash Coffee to US$20 million. Investors include Delivery Hero-backed DX Ventures, Global Founders Capital and Conny & Co.
The raised funds will be used for accelerating Flash Coffee’s expansion plan in Asia. According to David Brunier, CEO of Flash Coffee, the company will enter into seven new markets this year: Hong Kong, Taiwan, South Korea, Japan, Malaysia, the Philippines and Vietnam.
“Our dream is to have a Flash Coffee every 500 metres in all major Asian cities,” said Brunier.
“We will also build a regional HQ in Singapore and expand our regional tech hub in Jakarta to 50 people to support our vision of fully leveraging technology to improve customer experience, proactively drive growth and significantly increase operational efficiency.”
Launched in January last year, Flash Coffee business model focuses on grab-and-go physical storefronts that rely on technology, allowing significant cost savings. The company now operates 50 outlets across Singapore, Thailand and Indonesia.