The archive · Consumer Apps · Product decision · 2021–2025
Se'Indonesia bets NTT smoked beef can win fast food; $9.7M Series A, Forbes 100 to Watch
Indonesian QSR chain built on se'i smoked-beef rice boxes with central kitchens and app ordering; 2M+ portions/month, $9.66M Series A.
Se'Indonesia
What the business is
Quick-service chain selling se'i smoked-beef rice boxes from about Rp25,000 via central kitchens, app ordering, and 150 online and dine-in outlets.
How it started
Launched in 2021 by Rinaldi Dharma Utama, Christian Wilfandio and Bayu Ardhiawan Soedjarwo as cloud kitchen Lakuliner during Indonesia's pandemic delivery boom; rebranded as Se'Indonesia in early 2024.
What happened
Grew to 150 online and dine-in outlets across Java, Bali and Sumatra, serving 2M+ portions monthly; raised a $9.66M Series A in April 2025 led by Insignia Ventures Partners with Argor Capital, Saison Capital, W Fund, Trihill Capital, Kopital Ventures and Mulia Sky Capital; planned 50 more online outlets and 30 dine-in stores by end-2025.
How it ended up
Still running and expanding — building out dine-in stores across the archipelago and eyeing entry to neighboring markets.
Background
Se'Indonesia is an Indonesian quick-service chain built on se'i, a smoked beef dish from East Nusa Tenggara. It sells se'i rice boxes from about Rp25,000 through a mix of cloud-kitchen delivery and dine-in outlets, using central kitchens to keep taste consistent and costs low.
The company began in 2021 as cloud kitchen Lakuliner, founded by Rinaldi Dharma Utama, Christian Wilfandio and Bayu Ardhiawan Soedjarwo during Indonesia's delivery boom, and rebranded to Se'Indonesia in early 2024. By mid-2025 it served more than 2 million portions a month through 150 online and dine-in outlets across Java, Bali and Sumatra.
In April 2025 Se'Indonesia closed a $9.66M Series A led by Insignia Ventures Partners, with Argor Capital, Saison Capital, W Fund, Trihill Capital and others, to expand its dine-in footprint. In August 2025 Forbes Asia named it to the 100 to Watch list as the only Indonesian F&B brand on the roster.
What has to be true
- Se'i gives the brand a differentiated protein story in a market dominated by fried-chicken and burger chains.
- Central kitchens and app ordering keep costs low enough to price premium smoked beef at mass-market levels.
- The pandemic delivery boom created a repeatable wedge: 150 cloud-kitchen outlets before the first major dine-in push.
- Insignia, Saison and Argor backing signaled that regional specialty food can attract top-tier Southeast Asian venture capital.
What can be applied
A regional food specialty can become a national chain if the format—price, central kitchen, delivery—is right; venture money follows repeatable unit growth, not novelty alone.
Aftermath
As of September 2025 Se'Indonesia was still scaling: more than 150 outlets across Java, Bali and Sumatra, 2M+ monthly portions, and a post-Series A plan to add about 50 online outlets and 30 dine-in stores by end-2025, with neighboring countries as the next target.
Sources
- Raih Pendanaan Seri A, Se'Indonesia Pacu Ekspansi Gerai se-Nusantara
- [Updated] Trihill Capital-backed F&B startup Se'Indonesia raises fresh funding
- 8 Startup RI Masuk Forbes Asia 100 to Watch 2025
- Forbes Asia 100 To Watch 2025
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