Top 25 Startups to Watch in Indonesia

Top 25 Startups to Watch in Indonesia

Indonesia’s economy is projected to grow by 4.4% in 2021 supported by a gradual increase in domestic demand from a stronger global economy. The country aims to further strengthen its economy by improving its human capital and competitiveness in the global market. Indonesia’s growth seems to have been accelerated by its dynamic startup ecosystem and fast growing internet economy. 

Despite the devastating effects of the COVID-19 pandemic both on micro- and macro-economic scales, enterprises in the digital sector are booming more than ever–spurred by increased consumer demand. E-Commerce, taxi-hailing businesses, online hotel reservation platforms, and parcel & food delivery services are indeed flourishing.

The Indonesian President Joko Widodo believes that startups can greatly benefit economic growth, especially through facilitating small and medium enterprises. The government has also thrown its support behind encouraging startups, especially tech-related ones that will power Indonesia’s advancement into a digital economy. We have also compiled a list of active angel investors who are spreading Indonesia’s tech renaissance.

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List of Top 25 Startups to Watch in Indonesia

 

1. PAYFAZZ 

PAYFAZZ is a fin-tech startup from Indonesia that was established in 2016. PAYFAZZ creates a distributed network of bank agents in Indonesia, who performs financial transactions on behalf of unbanked and underbanked customers. PAYFAZZ is on a mission to empower SMEs and the rural population with technology to build Indonesia’s digital economy, and its vision is to become a world class technology company  platform for Indonesia’s digital economy. 

Industry: Fin-Tech.

Founders: Hendra Kwik, Jefriyanto Guang, Ricky Winata.

Total Funding: $74.1M

Founded Date: 2016

 

 

2. KoinWorks 

KoinWorks is Indonesia’s  Super Financial App and winner of Asian Banker Financial Innovation Award 2019 for Lending Category. With multiple financial product offers where users can manage both their assets and liabilities under one single platform. A true financial technology evolution, with core DNA in providing accessible and affordable financial solutions for everyone.

Industry: Consumer Lending, Fin-Tech.

Founders: Benedicto Haryono, Willy Arifin.

Total Funding: $72.1M

Founded Date: 2015

 

 

3. Waresix 

Waresix is a logistics platform for freight-forwarding, warehouse, and land transportation.  Waresix provides a solution for dynamic warehousing strategy that allows customers, retailers, distributor, and manufacturer to quickly adapt to variable demand. Waresix is headquartered in Jakarta, Indonesia.

Industry: E-Commerce, Logistics.

Founders: Andree Susanto.

Total Funding: $129M

Founded Date: 2017

 

 

4. CoHive 

CoHive is Indonesia’s largest CoWorking space company, previously known as EV Hive. CoHive offers cohesive working and living experience by providing the options of CoWorking, CoLiving, CoRetail and Event Space. Its goal is to be the biggest community builder in Indonesia.

Industry: Co-Working, Real Estate.

Founders: Carlson Lau, Ethan Choi, Jason Lee.

Total Funding: $37.8M

Founded Date: 2015

 

 

5. Snapcart 

Snapcart applies proprietary AI to connect Brands and Customers through real-time data and purchase attributions. Since its launch in September 2015, the company prides itself in the creation of technologies to collect billions of unstructured data while processing those data into value-add services within just seconds. 

Industry: Analytics, Big Data.

Founders: Araya Hutasuwan, Laith Abu Rakty, Teresa Condicion.

Total Funding: $14.7M

Founded Date: 2015

 

 

6. Warung Pintar 

Warung Pintar Group is a technology company with a mission to accelerate digital and economic inclusion for all Indonesians by transforming millions of fragmented micro-retail businesses, especially warungs. To date, Warung Pintar Group has worked with more than 500 brands, served 500,000 retailers, as well as 600 wholesalers, in 200 cities across Indonesia, and supported nationwide networks of distributors.

Industry: Software.

Founders: Agung Bezhaire, Harya Putra, Sofian Hadiwijaya.

Total Funding: $41.5M

Founded Date: 2017

 

 

7. Halodoc 

Halodoc is a secure health-tech platform with a mission to simplify access to healthcare by connecting millions of patients with licensed doctors, insurance, labs, and pharmacies in one simple mobile application. Halodoc’s innovative technology, nimble services, and patient focus enable a host of solutions including 24/7 doctor tele consultation via chat, voice or video; medicine purchase & delivery; lab services at home; and strong customer support.

Industry: Healthcare.

Founders: Jonathan Sudhartha

Total Funding: $145M

Founded Date: 2016

 

 

8. AGretail 

AGretail is an agri-tech startup that was founded in 2020 by Mochammad Nasrulyani and Oki Maulana. AGretail acts as an aggregator and retail platform, where farmers can benefit from selling their goods and Indonesians can conveniently get food produce, at affordable prices.

Industry: Agri-Tech.

Founders: Mochammad Nasrulyani, Oki Maulana.

Total Funding: $200K

Founded Date: 2020

 

 

9. Wagely 

Wagely was founded in 2020 by Kevin Hausburg, Sasanadi Ruka, and Tobias Fischer. It is a unique employee benefits solution that allows  employees to access part of their already earned wages allowing greater flexibility to pay bills on time, avoid late fees, and pay for unexpected expenses – all in one click.

Industry: Financial Services.

Founders: Kevin Hausburg, Sasanadi Ruka, Tobias Fischer.

Total Funding: $5.6M

Founded Date: 2020

 

 

10. Petskita 

 Petskita aims to be “the super-app for pet parents” – revolutionizing the pet industry in Indonesia.  Petskita  also features pet services that enlists pet clinics, pet hotels, pet salons, pet insurance, pet trainer, pet transport, and pet walker – from all across Indonesia with the online booking/appointment feature.

Industry: Marketplace.

Founders: Gunawan Wahab, Herpeiriati Peri, Taufin Rusli.

Total Funding: $50K

Founded Date: 2020

 

 

11. OnlinePajak 

OnlinePajak is all in one application to handle corporate taxes & administration faster & easier. With OnlinePajak, the corporate taxpayers can save lots of time to manage their monthly taxes, invoices and employee salary in one place, anytime, anywhere, without having to queue anymore at the tax office and bank.

Industry: Information Technology

Founders: Charles Guinot.

Total Funding: $41M

Founded Date: 2014

 

 

12. Alodokter 

Alodokter is a digital health platform that provides an end-to-end digital solution to patients including telemedicine, doctors, and others. The platform brings high-quality medical services to its 20 million+ monthly active users by providing an integrated mobile solution for patients and doctors.

Industry: Healthcare.

Founders: Nathanael Faibis, Suci Arumsari.

Total Funding: $45.1M

Founded Date: 2014

 

 

13. Shipper 

Shipper is one of the fastest-growing tech companies in Indonesia. In just a few years, Shipper  has built a vast network of fulfilment centers and partnered with hundreds of local delivery companies across the country. It aims to digitize Indonesian logistics and enable cost-efficiencies at nationwide scale. 

Industry: SaaS, E-Commerce.

Founders: Budi Handoko, Nalendra Perkasa, Phil Opamuratawongse.

Total Funding: $88.2M

Founded Date: 2017

 

 

14. Xendit 

Xendit is a financial technology company that provides payment solutions and simplifies the payment process for businesses in Indonesia, the Philippines and Southeast Asia, from SMEs and e-commerce startups to large enterprises. Xendit enables businesses to accept payments, disburse payroll, run marketplaces and more. 

Industry: Finance, Fin-Tech.

Founders: Bo Chen, Juan Gonzalez, Moses Lo.

Total Funding: $64.7M

Founded Date: 2014

 

 

15. Aruna 

Aruna was founded in 2015 by Farid Naufal Aslam, Indraka Fadhlilah. It is an Indonesian integrated fishery platform. Aruna helps to create fair fish trading, improve the livelihood of local fishermen, and also brings affordable and high-quality seafood for communities.

Industry: Marketplace.

Founders: Farid Naufal Aslam, Indraka Fadhlilah.

Total Funding: $35M

Founded Date: 2015

 

 

16. Paper.id 

Paper was founded in 2016 by Jeremy Limman. It is the first free invoicing, payment, accounting and inventory application for SMEs in Indonesia. It is the best payment solution for transaction payments. Paper also helps businesses to increase their cash flows.

Industry: Fin-Tech.

Founders: Jeremy Limman.

Total Funding: $25M

Founded Date: 2016

 

 

17. Mekari 

Mekari is Indonesia’s  Software-as-a-Service (SaaS) company. Its  mission is to empower the progress of businesses and professionals. Merkari’s  innovative HR and Accounting products (Talenta, Sleekr, Jurnal, KlikPajak) have been used by tens of thousands of businesses in Indonesia. 

Industry: SaaS, Internet.

Founders: Anthony Kosasih, Daniel Witono, Dirman Suharno.

Total Funding: $18M

Founded Date: 2015

 

 

18. Pasarnow 

Pasarnow is a multichannel online grocery platform. Pasarnow has been supporting more than 10,000 SMEs by giving them access to good quality products at a good price. Pasarnow offers fresh groceries and farm products to both individual and business customers. The company has partnered with more than 1,000 farmers and suppliers for its online marketplace.

Industry: E-Commerce.

Founders: Cindy Ozzie, Donald Wono, James Rijanto.

Total Funding: $3.3M

Founded Date: 2019

 

 

19. Segari 

Segari was founded in 2020 by Farand Anugerah, Farandy Ramadhana and Yosua Setiawan. It is the fastest growing e-grocery startup in Indonesia, focusing on fresh produce. It currently serves in Jakarta, Tangerang and Bekasi areas. 

Industry: Grocery, Retail.

Founders: Farand Anugerah, Farandy Ramadhana, Yosua Setiawan.

Total Funding: $16M

Founded Date: 2020

 

 

20. Mindtera 

 Mindtera is the platform where users  learn about emotional, social, physical intelligence and personal development, with structured curriculum using life coaching tools & distance learning. Mindtera is a trademark of PT Mindtera Cita Inovasi. A Technology Enabled Company in Education field.

Industry: Education.

Founders: Bayu Bhaskoro, Tita Ardiati.

Total Funding: $105.9K

Founded Date: 2021

 

 

21. Eureka 

Eureka is an information technology company that specializes in data analytics, big data, and artificial intelligence. It features an AI-based software application platform that utilizes artificial intelligence, mobile operator data, and proprietary data, which provides insights for businesses, companies, and organizations to communicate with potential and existing customers.

Industry: Big Data, Artificial Intelligence.

Founders: Benjamin Soemartopo, Eric Bonnel, Martin Filz.

Total Funding: $20M

Founded Date: 2016

 

 

22. Populix 

Populix is a go-to-platform for research and data whenever an institutional or corporate client needs answers to the questions that they have. Through Populix, researchers can launch studies, commission ad-hoc projects, subscribe to curated and niche panels of respondents, as well as buy off-the-shelf datasets and reports. 

Industry: Enterprise Software.

Founders: Dr Timothy Astandu, Eileen Kamtawijoyo, Jonathan Benhi.

Total Funding: $2.2M

Founded Date: 2018

 

 

23. Ritase 

Ritase provides a customizable transport management system with marketplace capability for B2B cargo delivery in Indonesia. On top of getting digitally connected to their current transport providers, shippers immediately have access to 10,000+ fleets from Ritase’s delivery partners. 

Industry: Logistics.

Founders: David Sameul, Iman Kusnadi.

Total Funding: $13.1M

Founded Date: 2017

 

 

24. Sayurbox 

Sayurbox is a fresh produce platform sourcing directly from farmers and producers and delivering to households and home food businesses. Sayurbox currently offers next day delivery on conventional and organic fruits, vegetables, meat, and packaged items 7 days a week ensuring fresh and great quality produce, no wastage, and fair-trade pricing. 

Industry: E-Commerce, Agriculture.

Founders: Rama Notowidigdo.

Total Funding: $20.7M

Founded Date: 2016

 

 

25. TaniHub 

Founded in 2015, TaniHub along with TaniFund focus on connecting farmers with markets while ensuring their access to financial (through P2P lending system) and technical support. Its business values consist of social impact, excellence and innovation. They strive to achieve more by empowering more farmers across the country.

Industry: Farming, Agriculture.

Founders: Edwin Setiawan, Ivan Arie Sustiawan, Michael Jovan Sugianto.

Total Funding: $94.5M

Founded Date: 2015

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