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Updated: 08/2019

Goola

Indonesia / Jakarta , Indonesia / Website

08/2019 Angel Seed
B2C Food & Beverage On-demand
  • Pitch

    Capitalizing on the bubble tea craze, Goola secures US$5m funding to transform traditional Indonesian drinks into a global brand.

  • Why

    • Bubble tea drink craze

      Cold, sweet drinks with various toppings are becoming more popular worldwide.

    • Busy urban lifestyle

      Time wasted waiting for drinks at F&B outlets, younger consumers prefer on-demand deliveries.

    • Inefficient F&B systems

      Local hawkers need help to modernize and compete with hi-tech F&B outlets and apps.

  • Market

    US$3.2bn

    Expected global revenue generated by bubble tea industry in 2023, based on CAGR of 7.49% from 2017.

  • Product

    F&B vendor with on-demand deliveries of popular traditional Indonesian drinks and desserts. Goola also offers in-house coffee and tea-based sweet drinks inspired by modern bubble tea franchises.

  • Founders

  • Investors

  • Journey

    • 2018 - Goola was established amidst the revived bubble tea craze.

      • The Launch

        August, Goola was co-founded by Kevin Susanto and Gibran Rakabuming, with adtech Pomona CEO Benz Budiman joining as an early investor and advisor.

        • Bubble tea craze was revived by international brands like Chatime, Gong Cha and Xing Fu Tang.
        • Goola served drinks with tapioca "bubbles", in addition to F&B products inspired by traditional Indonesian drinks and desserts.

        September, Goola's first outlet was opened at Raden Saleh in Jakarta, next to co-founder Raka's dessert business Markobar and his brother Kaesang's banana fritters outlet Sang Pisang.

    • In August 2019, Alpha JWC Ventures announced a US$5m seed funding for Goola. Alpha JWC had previously invested in Kopi Kenangan, another grab-and-go drinks franchise with on-demand app delivery services.

    • Goola is developing its own app to facilitate orders, so that customers can order in advance and get their drinks as soon as they arrive at the outlets. The app will also include a loyalty program and help Goola gather sales data and spot consumer trends.

      Alpha JWC Ventures managing partner Jefrey Joe stated that Goola's plans to expand internationally is in line with the VC's mission to help talented Indonesian entrepreneurs to go global .Goola co-founder Gibran Rakabuming said that the company will operate its own outlets and does not have any plans for franchises.

  • Business Model

    Goola first launched as a traditional F&B retailer, opening grab-and-go stalls in shopping malls in Jakarta. With the recent investment by Alpha JWC, Goola is developing its own on-demand services app to boost sales.

    Goola now has five outlets in Jakarta, three of which are in popular Jakartamalls: Pacific Place, Plaza Indonesia, and Mall Kelapa Gading. Popular local F&B products include cold drinks like the coconut-based dessert "es doger", tamarillo juice and green bean "soup".

    Goola stalls can often be found near other F&B outlets run by co-founder Gibran Rakabuming, the elder son of Indonesian President Joko Widodo. The serial entrepreneur owns popular catering business Chilli Pari and martabak manis (Indonesian sweet dessert) franchise Markobar. He is also involved with home food delivery business Madhang that he co-founded with his younger brother Kaesang Pangarep. Goola's first outlet was opened at Raden Saleh in Jakarta, nextdoor to Markobar and Kaesang's banana fritters outlet Sang Pisang.

    Goola has the advantage of being part of the millennial F&B stable that is rapidly modernizing the country's traditional food industry. An on-demand app is being developed to boost demand for local traditional drinks and desserts, allowing customers to order in advance to cut the waiting time for labor-intensive F&B preparation, such as blended ice drinks and bubble teas.

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