Intudo Ventures and SMDV Lead USD7.75 Million Series A Investment in Yummy

Source(s): e27 | Author(s): Prisca Akhaya T.

Indonesia-based food services company Yummy has raised USD7.75 million in a Series A funding round led by Indonesia-focused venture capital fund manager Intudo Ventures and Sinarmas Digital Ventures (SMDV), the venture capital arm of Indonesia-based conglomerate Sinar Mas. Additional participants in the investment round include Southeast Asia-focused venture capital firms East Ventures, Agaeti Ventures, and Sovereign’s Capital, as well as Selera Kapital, the venture capital arm of Indonesia-based frozen yogurt franchise Sour Sally Group. Yummy provides meal delivery and on-site food services to companies, as well as operating shared kitchens for use by local culinary brands and delivery platforms. It plans to use the new funds to expand in Jakarta and other major cities in Indonesia.