Indonesian company JumpStart Coffee has completed a round of Series B fundraising to enlarge its smart vending machine network across the country, as it develops its international expansion plan between now and 2025.
The fundraising round was led by Cool Japan Fun and Living Lab Ventures, and will reportedly enable the coffee brand to investigate new vending machine models, improve vending technology, and expand its workforce.
The amount raised in the investment round has not been disclosed.
JumpStart Coffee, which describes itself as “the biggest and fastest-growing smart coffee bar in Indonesia”, offers a self-serve smart coffee vending machine with a selection of 20 hot and iced coffee beverages beginning at US$1.
The brand said it uses artificial intelligence software to monitor sales data and manage stock levels.
JumpStart Coffee was founded in 2018 and currently operates more than 2000 self-service coffee machines and vending machines in Jakarta, Bandung, and Surabaya. The coffee brand plans to expand to other major cities, including Java and Bali.
Earlier this month, Flash Coffee, a Singapore-based tech-enabled coffee company, concluded its Series B financing round led by White Star Capital, raising US$50 million from $32.8 million last June.
