Greenly, a Surabaya-based F&B fast-casual retail chain startup that serves healthy food and beverages, has secured an undisclosed sum in a seed funding round, led by East Ventures.
Several unnamed angel investors also participated.
The company plans to use the fresh funds for product innovation, technology development, and expand its network both locally and into other cities.
Edrick Joe Soetanto and Liana Gonta Widjaja founded Greenly after the duo struggled to find a healthy diet option in Surabaya, Indonesia second-biggest city. They realised there are a gap and scarcity of affordable healthy food that is fast, easily accessible and has a wide range of product menu.
“We seek to address the gap between healthy but expensive food offered by existing players, and affordable but unhealthy food provided by the fast-food chain network. We founded Greenly as a fast-casual chain serving various salads, grain bowls, cold-pressed juices, smoothies, nut milk, and other healthy products that are created using natural and fresh ingredients,” said Gonta.
The business idea at that time was also timely with the rise of the middle-class economy in Indonesia that is health-conscious, creating an opportunity for the founders to tap in.
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The data from the UN Food and Agriculture Organization (FAO) shows that the average Indonesians consume only 122 grams of vegetables and 92 grams of fruit every day. These numbers are lower than the recommended daily intake level of 300-400 grams of vegetables and 100-150 grams of fruit.
In 2019, Greenly opened its first outlet in Surabaya with the mission of democratising healthy diet in Indonesia.
Gonta is a Nutritionist from UC Berkeley with experience in the health and F&B industry. She is also the figure behind hundreds of Greenly’s recipes.
Edrick is a serial entrepreneur and a former Consultant at PwC. He took the role of the chief commander in developing and executing Greenly’s business strategy.
“We aim to provide healthy food and beverages that are affordable, convenient, and easily accessible. Our mission is to bring a healthy diet to all levels of society and make it happen in Indonesia as something democratic, not just for a niche market. We are confident with the support of East Ventures and all partners, we can realise this mission,” Soetanto added.
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One of the main components of Greenly’s strategy is integrating the new retail concept with an O2O approach, distinguishing them from other traditional big players. Greenly adopted a multichannel-sales style by combining both physical outlets and online delivery.
As of today, Greenly operates five outlets in Surabaya — one in a mall with a cafe/restaurant concept, while four others are cloud kitchen dedicated to delivery service.
The digital readiness of Surabaya is the main component that contributes to Greenly’s achievement in developing its business through online platforms, which accounts for 50 per cent of its sales. Research from East Ventures — Digital Competitiveness Index 2020 report has placed Surabaya in the third position among 24 biggest cities in Indonesia for its digital competitiveness.
Willson Cuaca, Managing Partner of East Ventures, explained, “Based on EV-DCI, Jakarta is the best city to support the development of digital-based businesses. Successful founders from outside Jakarta must be able to adapt quickly and expand to the capital.”
“Our trust in the founders outside Jakarta has been proven previously by the success of IDN Media, where they expanded from Surabaya to all of Indonesia. We believe that Gonta and Soetanto can bring Greenly from Surabaya to Jakarta, as well to other cities, and provide healthy food and drinks for all Indonesian people,” he added.
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Picture Credit: East Ventures
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