Fore Coffee is a product of venture capital firm East Ventures' hypothesis of new consumer trends in Indonesia, which fully utilizes the convenience and fast lifestyle of Indonesian millennials. Website https://fore.coffee/ Founder Robin Boe and Elisa Suteja Founded in August 2018History of Fore CoffeeRobin Boe and Elisa Suteja founded Fore Coffee in August 2018 as an online-to-offline e-commerce company. Fore Coffee is the product of venture capital firm East Ventures’ hypothesis of new consumer trends in Indonesia, which fully exploits the convenience and fast-paced lifestyle of Indonesian millennials. Fore Coffee Current StatusThe number of Fore Coffee's offline stores has expanded from 19 in January 2019 to the current 35 branches, and it plans to open 100 branches in the second half of the year. Fore Coffee Shopping ProcessBy creating an ordering process on its app and integrating it with existing payment platforms such as ovo and Go-Pay, Fore Coffee claims it can reduce the time it takes to get a cup of coffee while also reducing costs, meeting the need for low-cost, high-speed coffee consumption. Fore Coffee FinancingIn January 2019, it received US$8.5 million in financing investment. In April 2019, Indonesian on-demand specialty coffee startup Fore Coffee received $1 million in follow-on financing, bringing its Series A financing to $9.5 million. This round of financing was led by East Ventures, followed by SMDV, Pavilion Capital, Agaeti Venture Capital and several angel investors. Fore Coffee said that with this funding, it has doubled the number of stores in Jakarta from 19 to 35 in two months. |
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