We're spilling the (coffee) beans. Kopi Kenangan, Indonesia's top grab-and-go coffee chain, has just become SEA's latest unicorn 🦄. It raised $96M in its initial close of its Series C.

Who cashed in? Tybourne Capital Management led the round. Falcon Edge Capital, Horizon Ventures, Kunlun, B Capital and other existing investors joined in.

👇🏼  Started from the bottom

Kopi Kenangan launched as a coffee chain in 2017 to fill the gap between instant coffee from street stalls and expensive coffees from higher-end cafes. (We're looking at you, Starbucks!)

• With its app, you can order your coffee and pick it up at one of their outlets (or get it delivered!).
• Its stores are 10-20% smaller than traditional coffee shops and half the price of Starbucks and focused on grab-and-go and delivery.

🙌🏼  Now we're here

In 4 years, it has expanded to 600 stories in 45 Indonesian cities, a team of 3,000 and multiple F&B brands.

• In the past 12 months, it has sold 40M cups of coffee and doubled its sales.
• By Q1 2022, it expects to serve 5.5M cups per month. (Now that's a caffeine high!)

Beyond just coffee. Its drink chain, Kopi Kenangan, has gone past coffee and now serves trendy favorites like milk tea. It has also expanded to new brands, like bread chain Cerita Roti, chicken on-the-go chain Chigo and soft cookie chain Kenangan Manis.

💰  What's with the $$$?

Kopi Kenangan will be growing its new brands and doubling down on regional expansion— set to be the most-loved brand in SEA with thousands of stores in the next five years.

• It's also got hungry regional competitors like fellow Indonesian, Jiwa Group and Rocket Internet's Flash Coffee.

Extra Scoop: A three-part series on how Kopi Kenangan turned beans into big business.