Indonesian plant-based startup Arummi has raised $2M in seed funding to expand the distribution of its cashew milk line nationally and across Southeast Asia. Arummi, a Jakarta-based producer of cashew milk, has secured $2M in financing from international investors to scale up its operation. The round was led by Singaporean VC firm Beenext, Korea Investment Partners (the VC arm of one of South Korea’s largest private financial groups), and Switzerland-based Fondation Botnar. “The funds are going toward scaling distribution, deepening brand awareness, and product development to expand our range over time,” CEO Nacitta Kanyandara, who co-founded Arummi with Raja Abdalla in 2022, tells Green Queen. The firm is banking on Indonesia’s standing as one of the world’s top cashew producers. Most cashew farms in the country are owned by smallholders, so the nut is vital to the local economy. Further, Arummi aims to address the high prevalence of lactose intolerance (representing over two-thirds of children and older adults) and the growing interest in plant-based milk (over seven in 10 consume these products once every fortnight). arummi cashew milk ingredients Courtesy: Arummi A cashew milk endorsed by the World Barista Champion “Each region has its own ‘hero’ plant-based milk ingredient: soy in China, almond in the US, oat in Europe,” notes Kanyandara. “In Asia-Pacific, which produces more than 60% of the world’s cashews, cashew is the natural choice. It’s familiar in local diets, naturally creamy, and well-suited for the region. Over time, this local advantage also supports our goal of making plant-based milk more accessible.” Arummi’s current range comprises a classic cashew milk and a barista edition. The former contains 6% cashews, emulsifiers and stabilisers, synthetic cashew and vanilla flavourings, and a vitamin and mineral premix. The barista version, meanwhile, has 5.5% cashews, plus sugar, salt, and some of the aforementioned additives. Is the startup concerned that the long ingredient lists may deter clean-label-seeking consumers? “We’re always improving our products, including simplifying ingredients where possible while maintaining quality,” says Kanyandara. “All of our products are BPOM-approved, Halal-certified, and go through strict quality control, so consumers can be confident in what they’re drinking.” Though the protein content is low (1g per 100g), Arummi’s real USP is in the micronutrient mix in the classic flavour, which offers 45% of the daily recommended intake of vitamin B2 and E, 35% of vitamin B9 and D, 30% of calcium, and 20% of vitamin B12 per serving. As for the barista milk, Arummi has roped in Mikael Jasin, the 2024 World Barista Champion, as its brand ambassador, working with him on the R&D to ensure the product works well in coffee and tea, the two main vehicles of milk consumption in Southeast Asia. “In fact, it was used in his winning routine at the 2024 World Barista Championship. That level of recognition speaks to the quality of our product and its ability to meet the highest global standards,” says Kanyandara. arummi cashew milk founder Courtesy: Arummi Arummi works with co-manufacturers in Indonesia, with its current capacity able to support distribution across 10 cities and having the flexibility to scale as demand grows. This also helps it keep costs low. “Our 200ml pack retails at Rp9,900 (60 cents) and our one-litre pack at Rp39,000 ($2.30), positioned competitively within the plant-based milk category,” she says. “Thanks to regional sourcing and scale efficiencies, we see a clear path toward reaching price parity with dairy.” Arummi expects a strong 2025 after sales tripled last year The company’s products are already available in more than 650 retail stores and 3,000 coffee shops and restaurants. To date, it has sold over 750,000 litres of its cashew milks. Armed with the fresh capital, it is now eyeing further expansion. “Right now, our priority is Indonesia, where dairy alternatives are still in an early stage. In the long run, we see strong potential across Southeast Asia given the region’s close ties to cashew production and consumption,” outlines Kanyandara. “Our focus remains on making cashew milk the hero product. At the same time, we’re exploring product development opportunities that build on cashew’s strengths and meet everyday consumer needs,” she adds. Its $2M raise comes amid the most dire landscape for food tech investment in a decade. Last year, funding for plant-based food startups fell by 64% in 2024, reaching $309M. That trend has continued, with these companies receiving just $180M in the first six months of 2025, $100M of which came from a single debt financing deal for Beyond Meat. arummi cashew milk Courtesy: Arummi So how did Arummi convince investors to back its cashew milk? “Our pitch was rooted in both the market potential and our execution. More than 70% of Indonesians and Asians are lactose-intolerant, yet dairy is still the default,” explains Kanyandara. “There’s a massive opportunity to provide a locally relevant, affordable alternative. We’ve stayed focused on one product and clear about our vision, and we’re fortunate to have partnered with investors who believe in that vision.” It didn’t hurt that Arummi’s revenue skyrocketed too. “We’ve seen strong momentum. Our sales more than tripled between 2023 and 2024, and 2025 is shaping up to be another strong growth year. What’s exciting is that this is driven by a single product, with growth coming from velocity and repeat purchases,” the CEO reveals. Over the next 12 months, Arummi plans to strengthen its retail presence, expand café partnerships, and improve its supply chain efficiency. “In five years, we see Arummi as the leading plant-based dairy brand in Southeast Asia – proof that a local ingredient can go global,” she says.