Flash Espresso, a espresso startup backed by Rocket Web, has simply opened its first retailer in Taiwan (China). Beforehand, this startup was current in Singapore, Indonesia and Thailand.
From now till the top of 2022, the corporate plans to enter 6 different Asian markets together with: Hong Kong (China), Japan, Korea, Philippines, Malaysia and Vietnam.
Flash Espresso says the corporate has offered 1 million servings of the drink, the vast majority of which have taken place prior to now few months.
Flash Espresso was born in 2020 and at present has 90 shops. Photograph: Flash Espresso
Based by David Brunier, former Chief Advertising and marketing Officer of Foodpanda, and Sebastian Hannecker, Former Bain & Firm CEO in 2020, Flash Espresso sells premium espresso for 50% lower than Starbucks. Flash Espresso has been backed by Germany-based firm Rocket Web since its inception.
In comparison with different espresso startups like Luckin Espresso and Kopi Kenangan – which regularly concentrate on one market – Flash Espresso has been aiming to achieve the area from the beginning.
“It’s comprehensible that some startups concentrate on the Indonesian market as a result of it’s massive sufficient. Nonetheless, we additionally see alternatives in different nations with massive populations, technological infrastructure and, most significantly, excessive espresso consumption,” Brunier shared with Tech in Asia.
Flash Espresso at present has a complete of 90 espresso outlets within the nations the place it operates and goals to open 260 extra shops in Asia by the top of 2022. The corporate has 500 workers, of which 300 are workers. barista serving espresso on the store. Flash Espresso stated it should reward baristas after the corporate reaches the milestone of 1 million cups offered.
In April this yr, Flash Espresso efficiently raised a Sequence A funding spherical led by White Star Capital. DX Ventures, World Founders Capital and Conny & Co additionally participated within the spherical, bringing the whole capital raised by Flash Espresso to $20 million.