Two Gibran Startups That Raise Hundreds of Billions from Tech Investors – 5 hours ago

Jakarta, CNBC Indonesia – Before focusing on politics and becoming Mayor of Solo, Gibran Rakabuming Raka had two startups in the culinary sector. The two companies founded by Gibran and Kaesang Pangarep were even able to reap billions of rupiah.

Indonesia is busy talking about Gibran, who has just been announced as a vice presidential candidate for presidential candidate Prabowo.

Before following in the footsteps of his father, President Jokowi, into the world of practical politics, Gibran was famous as an entrepreneur.

Gibran and Kaesang founded two companies in the culinary sector with Chef Arnold. namely Mangkokku and Goola.

Multi-brand culinary startup Mangkokku last announced funding in the middle of last year. The Series A funding round worth US$ 7 million or around IDR 101 billion to Mangkokku was led by Alpha JWC Ventures and EMTEK, with participation from Cakra Ventures.

Mangkokku previously received seed funding in 2020 from Alpha JWC Ventures. Since then, the company claims to have grown 6x in terms of sales and doubled its number of stores.

The company manages 50 outlets in Jabodetabek, Surabaya, Bandung, Malang and Solo. In the next few months, Mangkokku will also open more of its flagship restaurants, while expanding its cloud kitchen to new areas and cities.

Photo: Mangkokku dock
Co-Founder of Mangkokku Indonesia, Chef Arnold, Randy J Kartadinata, Kaesang Pangarep

Although the company focused on expanding its offline presence this year, online delivery still makes up the majority of Mangkokku’s sales.

To enhance the buying experience and increase customer engagement, Mangkokku will launch its own mobile application in Q3 2022.

The app will feature self-ordering and pickup services, as well as a loyalty program and many special promotions. Apart from that, Mangkokku also targets to reach its 100th outlet this year and open 100 more next year.

Goola, another startup founded by Gibran and Kaesang with Kevin Susanto and Benz Budiman also received capital injection from a venture capital firm. Again, Alpha JWC Ventures injected capital of US$ 5 million or the equivalent of Rp. 71 billion.

Alpha JWC Ventures itself has previously injected capital into the beverage business created by the nation’s children, namely Kopi Kenangan. The amount of capital injected is around US$ 8 million.

“So at that time it turned out to be a lot of people attraction, everyone immediately became aware of it. Oh, Indonesian drinks turned out to be cool too. Then there were people who introduced me, ‘eh, this is Goola, it’s up sizing, are you interested in Alpha JWC or not?’,” explained Kevin. “Then finally a meeting was set up. So after about a week and a half, the deal was straight away, everything was set straight away.”

This startup, which sells typical Indonesian drinks in fast food packaging, was founded in 2018. In the short time since it was founded, Goola has had 5 stores in Jakarta. However, Goola’s ambitions seem to be hampered by the pandemic.

[Gambas:Video CNBC]