Indonesian coffee chain Kopi Kenangan hits unicorn status

JAKARTA: Kopi Kenangan, one of Indonesia's fastest growing retail food and beverage (F&B) chains, has officially become a unicorn in the F&B category, the first from Southeast Asia.

This was after recently raising US$96 million (US$1=RM4.20) in the first closing of a Series C funding, giving the company which is well-known for its great tasting coffee a valuation of more than US$1 billion by investors.