Amatil X, the corporate venture capital platform of Coca-Cola Amatil, has invested in Indonesian startup Wahyoo’s Series-A funding round.
Wahyoo, which works to establish brand partnerships with small local warung makan working-class eateries and provide them with digital promotional tools, is gearing up to expand operations outside Greater Jakarta and build up its team’s tech and product units.
“Our team is actively working with Wahyoo to better understand and service this important customer segment,” said Amatil X head Alix Rimington. “We are already working with Wahyoo to supply our beverages to warungs across Jakarta and we look forward to building a deeper partnership with Wahyoo as they build out their offer.
“Our partnership with Wahyoo will help SMEs overcome the digital barrier and spur growth in Indonesia’s e-commerce industry.”
Earlier this year, Amatil X invested in Indonesian freight logistics marketplace Kargo Technologies.
“There are almost 35,000 warungs operating in Jakarta alone and we are already servicing one in every four of these businesses,” said Wahyoo founder and CEO Peter Shearer, adding that the country’s food-and-grocery market is forecast to hit US$261 billion by next year.
“We will continue to add new features and services to our offer to better meet the needs of warung makan owners, including improving supply chain systems and financial products, which are designed to help eateries improve margins and gain access to financial service.”