Lemonilo bags Series C funding

Lemonilo, a healthy lifestyle consumer goods company from Indonesia, announced that it managed to secure $36 million in Series C funding led by Sofina. Lemonilo's current investor, Sequoia Capital India, also participated in the funding round. Lemonilo plans to use the investments to strengthen its current business with an expansion to international markets.

Lemonilo was founded in 2016 by Shinta Nurfauzia, Ronald Wijaya and Johannes Ardiant. Every product that Lemonilo develops has three pillars: taste, practicality and affordability. The global expansion plan is also carried out in conjunction with the cultivation of the domestic market with the aim of reaching all levels of society in remote parts of the country.

Ronald Wijaya, who also serves as Co-CEO of Lemonilo, said that the brand will continue to focus mostly on its core market while continuing to innovate new products.

Sofina’s Member of the Executive Committee Maxence Tombeur said that investment in Lemonilo is in line with Sofina's values, namely to invest in purposeful companies, and is a testament to the company’s willingness to increase its investment activity in Indonesia.

Sofina is a family-owned and run investment company listed on Euronext Brussels. In Asia, Sofina invests directly in more than 30 companies across China, India and Southeast Asia and four sectors (consumer, technology, healthcare and education).