Indonesia, with one of Southeast Asia’s largest economies, boasts a vibrant startup ecosystem that’s poised for continued growth in 2023. The nation currently hosts over 2,300 startups, including nine unicorns and two rare decacorns (companies valued at over $10 billion, of which only 47 exist worldwide). This thriving landscape is further nurtured by a robust support system, including more than 50 venture capital firms, over 60 startup incubators and accelerators, and various government grants aimed at promoting local startups.
Let’s delve into the top 10 Indonesian startups to keep an eye on in 2023:
Kopi Kenangan
– Year Founded: 2017
– HQ: Jakarta, Jakarta Raya, Indonesia
– Founders: Edward Tirtanata, James Prananto
Kopi Kenangan is a unicorn startup leading the way in 2023. This innovative coffee company offers a seamless grab-and-go experience. Customers can order their coffee via the Kopi Kenangan mobile app, opting for pickup or delivery, thus eliminating the need to wait in long queues. The app also provides exclusive membership deals, enhancing the coffee experience. With a whopping $333 million in total funding across six rounds and 17 investors, Kopi Kenangan is clearly a force to be reckoned with.
iSeller
– Year Founded: 2016
– HQ: Jakarta, Jakarta Raya, Indonesia
– Founder: Jimmy Petrus
iSeller, founded in 2016, is an Indonesian startup that offers high-quality technology services to global enterprise-level businesses in the IT sector. They facilitate sales through various solutions, including payment gateways and EPOS systems. Having raised $20 million in funding from four investors, iSeller continues to make its mark in the industry.
Lemonilo
– Year Founded: 2015
– HQ: Jakarta, Jakarta Raya, Indonesia
– Founders: Johannes Ardiant, Ronald Wijaya, Shinta Nurfauzia
Lemonilo stands out as a healthcare marketplace startup in Indonesia, providing customers with access to natural, affordable products for a healthier lifestyle. The company has raised $72 million through five funding rounds, demonstrating strong investor support.
BELITONG INFO
– Year Founded: 2022
– HQ: Pangkalpinang, Kepulauan Bangka Belitung, Indonesia
– Founders: Sec Analysts
BELITONG INFO, founded in 2022, operates in the information technology, internet, news, media, and entertainment sectors. This startup, known for its information platform, recently raised $1,000 in its first funding round in January 2023.
Paxel.co
– Year Founded: 2017
– HQ: Jakarta, Jakarta Raya, Indonesia
– Founder: Johari Zein
Paxel.co is revolutionizing logistics and supply chain management. With a tech-based delivery service, it empowers customers to control their deliveries, ensuring convenience. The startup has raised a total of $49.4 million across six funding rounds, backed by seven investors.
Astro
– Year Founded: 2021
– HQ: Jakarta, Jakarta Raya, Indonesia
– Founders: Jessica Jap, Marcella Moniaga, Sherlyn Gautama, Vincent Tjendra, Wandi Budianto
Astro is an e-commerce startup offering ultra-fast, 15-minute deliveries for groceries and essentials, 24/7. Through four funding rounds, the company has secured $91.6 million from ten investors, showcasing its potential.
VIDA
– Year Founded: 2018
– HQ: Jakarta, Jakarta Raya, Indonesia
– Founder: Niki Luhur
VIDA is making waves in the security and compliance industries by safeguarding data through digital platforms. With $47.7 million raised across three funding rounds, the company is poised for further growth.
Dagangan
– Year Founded: 2019
– HQ: Kembangan, Jakarta Raya, Indonesia
– Founders: Ryan Manafe, Wilson Yanaprasetya
Dagangan operates in the delivery services sector, offering a social commerce platform to entrepreneurs, especially in rural areas. With $18.1 million raised from ten investors, the company is bolstering local economies.
Pluang
– Year Founded: 2019
– HQ: Jakarta, Jakarta Raya, Indonesia
– Founders: Claudia Kolonas, Iwan Tjam, Richard Chua
Pluang, in the Fintech market, democratizes investment opportunities through its custom-built application, making gold and other investments accessible to all. With $113 million in funding, including a recent $55 million injection from Accel, Pluang is poised for financial innovation.
Mandaya Medical International
– Year Founded: 2017
– HQ: Jakarta, Jakarta Raya, Indonesia
Mandaya Medical International operates in healthcare, hospitality, and property sectors. The company has secured $72 million in funding, primarily through its recent round on January 3, 2023, positioning it as a promising healthcare player in Indonesia’s startup landscape.