Indonesian F&B startup Hangry has raised $10.5 million in a Series A5 round led by existing backer Alpha JWC Ventures, according to its announcement on Wednesday.
DealStreetAsia reported first in early August that the company is finalising an $8-million deal, which is likely a mix of primary and secondary transactions.
The fresh capital will be directed toward expanding its operational footprint, increasing production efficiency and upgrading kitchen infrastructure and equipment.
Hangry’s model banks on a shift in consumer behaviour, particularly among millennials and Gen Z, who are increasingly steering toward local F&B brands that offer reliability at more accessible prices than multinational chains. Chicken, the hottest contested category in Indonesia’s online delivery segment, has become Hangry’s core battleground.
The company, which began in late 2019, currently runs 117 outlets across the country with 18 brands—of which 17 are chicken-based, spanning both local and international-style fried chicken concepts, and the remaining is Dari Pada, which focuses on coffee and beverages.
Flagship brands such as Moon Chicken, Ayam Mak Dura and Ayam Koplo have helped propel Hangry to the top tier of food-delivery operators on GrabFood, GoFood and ShopeeFood. The company said its multi-brand approach enables each outlet to push more than 1,000 portions daily, leveraging a single workflow with “assembly-line” efficiency to keep costs low.
Abraham Viktor, Founder and CEO of Hangry, said Indonesian consumers are becoming more demanding about quality and price. “Indonesian consumers today expect both quality and affordability, and that’s exactly the gap Hangry fills,” he said. “Our multi-brand kitchens allow us to serve every order efficiently while keeping prices accessible.”
Alpha JWC, which has backed the company since its early stages, continues its support through the latest round. “Hangry has demonstrated great execution in building a scalable, operations-driven F&B platform,” said Chandra Tjan, Co-Founder & General Partner at Alpha JWC Ventures. “Their deep understanding of Indonesian consumers positions them strongly to become a leader in the next growth phase in the region.”
The company argues that its value-focused positioning has become more relevant as household budgets tighten and discretionary spending shrinks. With chicken-based comfort food remaining a popular “affordable indulgence,” Hangry aims to court repeat orders with variety, consistency and pricing that starts at around $1.
Beyond local growth, Hangry has also begun laying groundwork for an international push, with Malaysia as its planned first stop outside Indonesia. Domestically, the company said it will continue reinforcing its presence across Java, Sumatra, Kalimantan and Bali.