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Legit Group Bags US$3 Million in Seed Funding from East Ventures

Legit Group received US$3 million in seed funding from East Ventures and AC Ventures.

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Legit Group received US$3 million in seed funding from East Ventures and AC Ventures.

Jakarta, TechnoBusiness ID (English Edition) Legit Group, a food delivery service startup that is developing in Southeast Asia, on Thursday (9/9) announced that it had received seed funding of Rp. 3 million from East Ventures and AC Ventures.

Also Read: Earns US$10 Million, EventX Seriously Indonesian Market

In the company’s announcement on Thursday (9/9), the funding will be used by Legit Group to expand aggressively, including adding two new brands and increasing operational points from 45 to 135 locations to reach a wider range of customers.

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The move was driven by the potential of the food delivery service market in Indonesia, which is currently valued at US$3.7 billion, 31% of the total market value in Southeast Asia, and continues to grow at 32.5% per year.

Also Read: Cleva Raises US$600.000 in Funding from Choco Up

Sales of Legit Group, which manages the Pastaria, Sei’Tan, and Juju Chikin brands, have grown 9.5 times since its founding in February and its revenue increased 61% from June to July.

“The pandemic is accelerating the adoption of the food delivery service business and we believe this trend will continue even after the pandemic is over,” said Sumarno Ngadiman, CEO and co-founder of Legit Group.

Also Read: KiotViet Receives US$45 Million Series B Funding from KKR

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In addition, Legit Group’s performance immediately skyrocketed thanks to its collaboration with Ismaya Group, Yummy Group, and GK Hebat, companies engaged in similar fields.

Roderick Purwana, Managing Partner of East Ventures, although only launched earlier this year, Legit Group has proven its ability to create unique and attractive food and beverage brands with impressive growth.

—Purjono Agus Suhendri, TechnoBusiness ID Photo: Legit Group

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