Jakarta-based cloud kitchen startup Legit Group has bagged US$13.7 million in a series A funding round led by MDI Ventures.
The round was also joined by Sinar Mas Digital Ventures (SMDV), East Ventures, and Winter Capital. The funds will be used to fuel the company’s expansion into areas outside Jakarta.
Legit Group was founded in 2021 by the company’s chairman Brand Hendrata as the founder saw the potential of an online food delivery business amid the pandemic. In its first year, the company secured $3 million in the seed round led by East Ventures. Legit Group currently operates four culinary brands – Pastaria, Sei’Tan, Sek Fan, and Ryujin.
“Their ability to develop innovative product and marketing strategies makes MDI Ventures increasingly confident that our support as a major investor will strengthen their position in the F&B industry and accelerate their business growth,” said Donald Wihardja, CEO of MDI Ventures.
Statista projects the Indonesian online delivery market will reach $10.81 billion in value this year and $23.4 billion by 2027. In December, Grab Indonesia withdrew from the cloud kitchen business in the country after four years of operation as part of its plan to shift to an “asset-light” business model. The company said it experienced inconsistent growth in the market.
