Indonesia's premium mixer.
Anchored. Audited. Scaling.
Every tonic water on every premium
hotel bar in Indonesia was imported.
World-class venues. World-class drinks.
No local premium mixer worthy of them.
That was the gap. We built the answer.
A $5.29 billion market. We're the only established local premium mixer.
Indonesia's premium hospitality sector is one of Asia's fastest-growing. 5.28 million F&B businesses. The premium mixer segment is wide open.
Three partners.
Bali to Jakarta.
Built from zero.
Candid started with one product and one conviction: Indonesia's premium F&B scene deserved a local mixer. Three years later — national distribution, 43% gross margin, and an anchor partnership that redefined how premium mixers are made and funded.
The raise builds the next layer — the commercial team that makes SKD's network move.
Three SKUs. One co-brand. All made in Indonesia.
Three years. Three PKF audits. No projections here.
Revenue grew 6.5× from FY23 stub to FY25. Gross margin expanded from 36.65% → 43.31% in the same window.
PT Sukanda Djaya doesn't carry every brand. They carried us.
SKD is Indonesia's largest national FMCG distributor — Red Bull, Yakult, and a curated portfolio of premium international brands. Selection is not automatic. It is a commercial quality signal. Getting here took two years.
National reach. Anchor margin. Growing direct book.
SKD National
PT Sukanda Djaya — Indonesia's largest FMCG distributor. PNB now sub-d for Bali. National food service + modern trade (Foodhall, Grand Lucky).
Finns Direct
3-year co-brand partnership. Finns pre-funds packaging — Candid invoices product only. Structurally highest-margin channel. 30-day payment terms.
Chain + Direct
Holywings (signed Mar 2026, first orders live). Potato Head, Mrs Sippy, Mexicola, Shady direct. Hotel + aviation pipeline building.
Finns Beach Club, Canggu.
Finns pre-funds their own co-branded packaging. Candid invoices finished goods only — making this the structurally highest-margin channel in the portfolio.
At a fraction of their scale.
The brands already serving Candid.
This is not
a Bali brand.
5.28M F&B businesses in Indonesia. SKD gives Candid national reach across all major cities. Modern trade (Foodhall, Grand Lucky, Ranch Market) is already live. Hotel chains, aviation, and national retail are the next chapter.
Finns Beach Club is exploring Australian operations. Candid holds right of first refusal on all international Finns volumes. The first export conversation is already open.
Cola and Water SKUs are in R&D. Same production infrastructure. Approximately 10× the addressable market. Not in any current baseline or forecast.
Series A targeted: USD 7–12M in 2027. Based on trajectory, not hope.
We chose to lose money in 2025. Here's exactly what we bought.
Gross margin grew to IDR 2.39B — the best year on record. The net loss of IDR 207M is entirely OpEx. These costs don't scale linearly with revenue.
| Investment | FY2024 | FY2025 | Change |
|---|---|---|---|
| Wages & Salaries | IDR 171M | IDR 605M | +IDR 434M |
| Consulting & Accounting | IDR 71M | IDR 323M | +IDR 252M |
| Marketing | IDR 400M | IDR 529M | +IDR 129M |
| Transport & Logistics | IDR 148M | IDR 251M | +IDR 103M |
| Storage & Warehousing | IDR 86M | IDR 143M | +IDR 57M |
This isn't funding a startup to prove a concept. It's activating a commercial engine that's already running — national distributor in place, flagship partner contracted, margins at Fever-Tree peer levels.
Two buckets. Most goes into the business.
The timing
is right.
USD 750k closes Q2 2026. Series A follows on a clean FY2026.