Fresh Fund Keeps Dailybox's Kitchen Running
Culinary startup Dailybox Group raised US$24 million in a Series B funding round, led by Northstar Group and Vertex Growth, with support from Vertex Ventures Southeast Asia and India and the existing Kinesys Group. Co-founder of Dailybox Kelvin Subowo said the funds would be used to expand the outlet network, increase innovation, and add new culinary brands.
"The funding round will build growth momentum in tier two and three cities. The strategic expansion plan in non-metropolitan cities will create many jobs," Kelvin said on Tuesday. Dailybox Group has operated in more than 150 locations spread across 20 cities. Kelvin claims Dailybox is the largest food and beverage operator in Indonesia.