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Mobile café start-up Jago lands $6 million in series A funding
Jago, which was inspired by Jakarta's mobile beverage vendors called "Starling", plans to use the funds to expand its coverage, upgrade its carts and invest in market-driven innovation for better cost efficiency.
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Executives of mobile café start-up Jago (from left) CEO Yoshua Tanu, chief operating and marketing officer Daniel Sidik and technology chief Christopher Oentojo pose in an undated promotional photograph.
(Courtesy of/Jago)
J
ago, a mobile café start-up based in Jakarta, has raised US$6 million in a series A funding round, which it plans to use to expand its service coverage.
The funding round was led by the start-up’s existing backers Indonesia’s Intudo Ventures and Singapore’s BEENEXT Accelerate, with participation from Thailand’s ORZON Ventures and the United States’ D Global Ventures.
Jago currently covers around 7 percent of Jakarta and aims to broaden its coverage to 50 percent by the end of the year.
“With this round of financing, Jago plans to expand service coverage, establish new depots and launch more carts,” cofounder and CEO Yoshua Tanu said in a statement on Wednesday.
The plan includes expanding from three to 15 depots and its fleet of fully electric carts from 300 to 1,500.
Jago also plans to invest in hardware upgrades for its carts, innovations around demand forecasting and supply routing as well as depot hardware improvements to streamline operations for greater cost efficiency.
To support its expansion strategy, the start-up intends to use part of the capital injection to build geospatial machine learning models to identify locations for optimal expansion.
