Legit Group Secures $13.7 Million in Series A Funding Round Led by MDI Ventures

13 April 2023
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Legit Group has successfully closed a Series A funding round of $13.7 million, which was led by MDI Ventures with the participation of Sinar Mas Digital Ventures (SMDV), East Ventures, and Winter Capital. The company's immediate expansion plan is to expand within the Jabodetabek area, where most of their stores are currently located, and gradually expand to 2nd tier cities such as Surabaya and Malang. The primary focus of the funding will be on outlet and brand expansion, with some allocation for developing technology to optimize operations.

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MDI Ventures invested in Legit Group with confidence that this investment will enhance its position in the F&B industry and accelerate business growth. Additionally, the investment aligns with MDI Ventures' goal to make a positive social impact on the growth of Indonesia's agriculture sector.

Through balancing growth with healthy unit economics, Monica Evanti Andriani, CMO & Co-founder of Legit Group, stated, "Legit Group’s priority is on growth & expansion, but it's equally important to ensure the company's sustainability & profitability in the near future. We have set clear milestones to prioritize certain growth strategies that align with our next big goals. But at the same time, streamlining the process as much as possible to achieve it.” 

Legit Group is dedicated to producing high-quality products in various areas of Indonesia, with the support of various parties and through strategic approaches. The company is committed to excellence in product quality and will continue to expand other offerings to meet the needs of their customers. With continued commitment to quality and innovation, they are looking forward to making a significant impact on the food industry in Indonesia.