Kopi Kenangan raised $109m in a Sequoia Capital-led Series B funding round.

Kopi Kenangan, an Indonesian coffee chain, raised $109m in a Sequoia Capital-led Series B funding round, with the participation of B Capital, Horizons Ventures, Verlinvest, Kunlun, Sofina and Alpha JWC. The company plans on using the capital to strengthen its operations in Indonesia, launch new products, invest in technology to serve its customers better, and protect employees amid the Covid-19 pandemic. "The hospitality industry is facing the biggest existential crisis of our generation. It's hard to tell when the sector will return to normal, but when it does, it will look very different. As a growing start-up, we are adapting quickly to the challenge through contactless commerce and uncompromising hygiene standards throughout our stores," Edward Tirtanata, Kopi Kenangan Co-Founder and CEO.