222 April 2025 – Jakarta, Indonesia – Beef rice bowl F&B Se’Indonesia raised a new undisclosed round led by Insignia Ventures Partners, with participation from Argor Ventures, Saison Capital and W Fund. The company also counts Kopital Ventures, Mulia Sky Capital and Trihill Capital as existing investors. The recent Series A funding will go towards expansion and building the company’s network of dine-in stores.

Founded in 2022 by Kopi Kenangan alum Rinaldi Utama, Se’Indonesia launched with a mission to redefine Indonesia’s quick-service restaurant landscape focusing on high-quality smoked beef rice bowls. Se’Indonesia has quickly become one of the fastest growing online F&B brands and is selling over 2 million meals per month. The accessible pricing and quality of Se’Indonesia’s beef rice bowls resonates with Indonesian consumers, especially those based outside of Jabodetabek. 

“When we opened our flagship dine-in outlet in November 2024, we were pleasantly surprised by the immense reception which went far beyond our expectations. Since then, we have seen how Se’Indonesia’s flagship dine-in store has become a go-to local spot for enjoying great food with friends and families. From that first outlet, we have continued our mission to bring affordable, high-quality protein to more Indonesians,” shares CEO and founder Rinaldi Utama. 

This mission is important especially in a predominantly Muslim country with low beef consumption relative to neighbouring markets. The market’s declining middle-income population is a strong pull factor for consumers to opt for lower-priced menu items. The company has been able to pay back existing outlets in less than 9 months, which is testament to the company’s operational excellence.

This confluence of changing economic needs and Indonesia’s socio-cultural nuances is the opportunity Se’Indonesia is addressing with their mission to democratize access to quality beef consumption and increase the consumption per capita in the country.

“With a foundation of strong unit economics and double digit month on month growth, we aim to solidify our position in the next few years as a leading regional rice bowl staple. We are fortunate to have partnered with regional investors in this mission and look forward to continuing our expansion with their support,” adds Utama. 

“Despite Se’Indonesia’s low price-point, this emerging F&B brand has grabbed a significant share of voice, across all income-classes. The company’s rapid growth on online platforms, coupled with its high return rate, reflects the appeal of its high-quality, affordable products that aligns with the evolving economic needs in Indonesia. Se’Indonesia has laid a solid foundation for continued expansion, and we are committed to supporting Rinaldi and his team as they further strengthen their footprint across Indonesia,” shares Shefali Dodani, VP of Investments at Insignia Ventures Partners.