Lemonilo , an Indonesian healthy lifestyle consumer goods company, has raised a $36 million Series C funding led by Sofina.
Sequoia Capital India, Lemonilo’s current investor, also participated in the round.
The funding will be used to strengthen local distribution and product penetration abroad, the company said in a statement.
“As a growth-stage company, we have proven that our business model works in Indonesia, so we are planning to bring our concept to other countries as well, starting with our neighbors. We are grateful for the continuous support and trust from Sequoia Capital India and excited to welcome Sofina as our newest investor. With Sofina’s expertise in working with established fast-moving consumer goods (FMCG) companies, we believe that Lemonilo can become one of the new faces of FMCG companies in Indonesia and beyond,” said Shinta Nurfauzia, Co-Chief Executive Officer of Lemonilo.
Shinta added that apart from developing business overseas, Lemonilo will also work on the national market.
She hopes that this funding can help strengthen Lemonilo’s distribution network throughout Indonesia so that Lemonilo’s products can reach all levels of society in every part of the country.
This is also in line with Lemonilo’s mission, to provide Indonesians with access to a healthier lifestyle, according to her.
Meanwhile, Ronald Wijaya, who jointly serves as the Co-Chief Executive Officer of Lemonilo, also said that Lemonilo will continue to have most of its focus on its core market while continuing to innovate new products.
“We believe more people want to be healthier, especially after COVID-19 hit our country. Therefore, through this funding, Lemonilo will continue to focus on the Indonesian market while innovating new products that Lemonilo has always stood for, products without preservatives colorings, or flavor enhancers. We hope we can have more Indonesians adopt a better lifestyle by providing them with our practical, delicious, and affordable health products,” added Ronald.
Lemonilo was founded in 2016 by Shinta Nurfauzia, Ronald Wijaya, and Johannes Ardiant (Chief of Product and Tech). Every product developed by Lemonilo has three pillars: delicious, practical, and affordable. It is also made from selected ingredients. Lemonilo has launched more than 40 types of products, ranging from instant noodles, snacks, to spices. All of these products are sold on their own digital platform and are available at more than 200,000 points of sales (POS) in Indonesia.
“Lemonilo is a pioneer of the healthy lifestyle movement in Indonesia, with the goal of becoming the leading FMCG brand in the space. Sofina is delighted to partner with its ambitious and mission-driven founders and is fully aligned with Lemonilo’s long-term vision to offer affordable access to healthy foods and products, in Indonesia and beyond. This investment has a strong strategic fit with Sofina’s goal to invest in purposeful companies, and is a testament to our willingness to increase our investment activity in Indonesia.” said Maxence Tombeur, Member of the Executive Committee, Sofina.
Sofina is a family-owned and runs investment company listed on Euronext Brussels. Sofia aspires to be the preferred partner of entrepreneurs and families who leads growing companies by backing them with patient capital and supportive advice. In Asia, Sofina invested directly in more than 30 companies across China, India, and Southeast Asia and four sectors (consumer, technology, healthcare, and education).