JumpStart, the Indonesian startup renowned for its smart coffee machines, has achieved a significant milestone in its latest funding round. Securing an undisclosed sum of investment, JumpStart Coffee has successfully completed a series B financing, with prominent participation from Cool Japan Fund and Living Lab Ventures. This strategic funding will fuel JumpStart’s continued expansion and solidify its position as a leading player in the smart coffee machine industry.
JumpStart, established in 2018, is a prominent manufacturer of cutting-edge vending machines designed to cater to a diverse range of beverage preferences. With the capability to serve more than 20 varieties of both coffee and non-coffee drinks, the company has swiftly made its mark in the industry. Since its inception, JumpStart has successfully deployed 2,000 of its advanced vending machines across key locations, including the Greater Jakarta Area, Bandung, and Surabaya.
JumpStart’s Co-founder and CEO, Brian Imawan, revealed that the company has secured fresh funding. The primary objectives for utilizing these funds are to increase the number and variety of their smart vending machines, strengthen their technological capabilities, and expand their team. Additionally, JumpStart has set its sights on international expansion and plans to enter global markets by the year 2025.
In the year 2022, JumpStart embarked on a diversification strategy by expanding its product offerings beyond vending machines. The company began retailing a wide range of items, including food, clothing, medicine, cosmetics, and pet food. Additionally, JumpStart ventured into the coffee market by introducing its own line of coffee products. These coffee offerings are conveniently available for purchase both online and through their smart vending machines.
The company reported a staggering revenue growth of over 400% in the second half of 2022, as compared to the same period in 2021.
In the middle of this year, JumpStart has set its sights on expanding to additional prominent cities in Indonesia, including destinations on the Java and Bali islands.
The investment made by Cool Japan Fund in JumpStart Coffee will facilitate the availability of a broader range of Japanese goods, including beverages and snacks, to Indonesian consumers.
