Indonesia digest: BRI Ventures backs Yummy Corp; TMI invests in Feedloop's pre-Series A
Summary
Indonesian cloud kitchen startup, Yummy Corp has bagged an undisclosed additional funding in its Series B+ round from Sembrani Nusantara, which is managed by BRI Ventures. Currently, Yummy Corp operates more than 70 cloud kitchens in greater Jakarta, Medan (North Sumatra), and Bandung (West Java). Nicko Widjaja, CEO of BRI Ventures, said the new retail sector is among the significant growth industries of the last couple of years and will continue to grow. CEO of TMI, Marlin R Siahaan said in a statement: “It is projected that in the next few years, the solutions created from this service [NCDP] will be widely adopted by application developers or other businesses. The corpus will be used for the development of products and technologies, recruit human resources, and build a distribution network for marketing platforms in Indonesia and Southeast Asia.