Mangkokku Culinary Startup Receives Investment of IDR 28.3 Billion
Culinary startup Mangkokku received seed funding of US$ 2 million or around IDR 28.3 billion from Alpha JWC Ventures. This startup was founded by the son of President Joko Widodo (Jokowi) Gibran Rakabuming and Kaesang Pangarep, together with chef or Chef Arnold Poernomo and entrepreneur Randy Kartadinata.
Gibran and Kaesang serve as advisors to the company’s operations. Meanwhile, Arnold focuses on culinary production and innovation. Then Randy became CEO. The funds they get from Alpha JWC will be used for outlet expansion until next year.
Currently, Mangkokku has 22 branches in Jakarta, Bogor, Depok, Tangerang, and Bekasi (Jabodetabek). The company also plans to expand to Surabaya. The startup is targeting 30 outlets by the end of the year and 75 branches by 2021.
“Our big dream is to become the largest mass-market culinary group in Indonesia and build its own ecosystem consisting of various brands and institutions,” said Randy as quoted in a press release, Monday (23/11).
In addition, Mangkokku wants to be the best culinary company in terms of local and regional expansion, as well as technical operations. “Therefore, we took this startup route and collaborated with Alpha JWC Ventures,” he said.
Adapting during Pandemic Times
Gibran revealed that Mangkokku sales had decreased during the Covid-19 pandemic. Which originally sold thousands of portions per day, now only hundreds of portions have been sold. During the corona pandemic, companies also adapt to changing consumer demands. Randy claims, each Mangkokku branch can sell 400 to 600 bowls per day.
Arnold Poernomo added, the company adopts a global business perspective. He considered, it is necessary to provide superior products at affordable prices and maintain standards for rapid and sustainable development.
“Therefore, we operate all branches ourselves,” he said. MangkokKu also uses high-tech equipment in the main kitchen. This is to maintain product quality and consistency.
The company offers dishes in the form of a rice bowl or rice with a side dish in the bowl. They also focus on Indonesian specialties such as Endog Kulit Krispi, Beef with Sambal Kluwek, and Beef with Sambal Korek Bawang Bone Marrow.
Prices start from IDR 19 thousand to IDR 54 thousand per portion. “Our passion for local food. We believe, at the core of Mangkokku lies in the excellence of cuisine and continuous innovation,” said Arnold.
Alpha JWC is also Investing in Other F&B Startup
Meanwhile, Alpha JWC invests in several culinary startups, one of which is Gibran’s Goola. This startup received funding of US$ 5 million or around IDR 71 billion last year. Goola focuses on serving traditional Indonesian food and drinks, and carries the concept of a fast service kiosk or grab and go.
In addition, the venture capital company invested in Kopi Kenangan and Lemonilo. “We see the culinary business as an attractive sector that can benefit from technology empowerment and investment,” said Alpha JWC partner Eko Juniardi.
“We were not only interested in the way the founders built a strong brand, but also their bigger plans for the company.”
Viral When First Launching
MangkokKu went viral when it first opened. Many visitors were willing to stand in line to taste the food concocted by the MasterChef Indonesia judges. Mangkok Brisket Onion Saus with Onsen Egg is a favorite menu for visitors.
This outlet also collaborates with Ternakopi, Kaesang’s business for its drinks. MangkokKu Co Founder, Randy Julius Kartadinata said, MangkokKu has the motto ‘Clean, Peoples, Delicious, Real’.
The MangkokKu outlet concept that was built carries a minimalist theme and an open kitchen. “Deliberately choosing this concept because it is more fitting and efficient. Visitors can also watch the cooking process and interact directly with our chefs at MangkokKu,” said Randy, Tuesday (11/24/2020).