Wahyoo, an Indonesia-based food, and beverage digitalization firm, has secured $6.5 million as part of its series B funding round. The startup provides solutions for the modernization and digitalization of small warung local stalls in Indonesia.
Wahyoo $6.5m Series B Funding
According to data from VentureCap Insights, NH Absolute Return Partners, Intudo Ventures, Evowood, Nitto Prima Ventura, Global Brain, East Ventures, and Indogen Capital are some of the investors taking part in the round. Wahoo’s post-money valuation increased with the investment round to US$38.9 million, with an almost tripling share price from the prior year.
Wahyoo’s Series A Funding
Wahyoo secured US$5 million in a series A fundraising round headed by Intudo Ventures in August 2020. Then, Peter Shearer, the Founder, and CEO noted that the fund would be used to expand the firm’s operation operations to additional cities outside of the Greater Jakarta Region; and also make new hires, especially for tech and product units.
In addition, he further maintained that the firm would add new features and services to better meet the needs of warung makan owners, especially improving supply chain systems and financial products, which are designed to help eateries improve margins and gain access to financial services.
About Wahyoo and Works
Peter Shearer founded Wahyoo in 2017, which offers digitizing services to MSMEs in the food and beverage industry. Over 27,000 firms use the company’s services, which include access to networks for fulfillment and sales. The business also established the Bikin Tajir Group, a cloud kitchen project geared toward MSMEs that offers franchising rights for several food brands.
By offering digital tools and services to draw customers, improve marketing efforts, implement loyalty programs, order and receive groceries, manage financial accounts, and provide educational training on best practices through the company’s Wahyoo Academy, Wahyoo works directly with neighborhood mom-and-pop restaurants to improve and digitize their operations.
Additionally, restaurants can increase their revenue by partnering with Wahyoo for advertising and brand collaborations. Wahyoo is run by a seasoned group of business owners who, after working in Silicon Valley, established several profitable businesses in Indonesia.