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1. TRACXN MONTHLY REPORT
JANUARY 2022
INDONESIA TECH

2. Indonesia Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
2
Indonesia Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 8
Top Funded Business Models - last 1 year 10
New Analyst Picks 11
Acquisitions 13
Recent News 14

3. Indonesia Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Indonesia Tech Snapshot – January 2022
Indonesia Tech: Snapshot – January 2022
Note : "Investors" refers to "Institutional Investors" only
3
$505M
14
Overall Geo Stats
20
2
67
13
20
Funding Rounds $ Invested Analyst Picks
eFishery Upgraded
to SOONICORN
New Investors
KTB Network
Dr.m
Series A+ rounds Active Investors IPOs Acquisitions
Warung Pintar
Telunjuk.com
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Jakarta
(14 Rounds, $404M)
Bandung
(1 Rounds, $90M)
Bekasi
(1 Rounds, $2.6M)
Batam
(1 Rounds, $2.5M)
$90M - Series C
eFishery (2013, Bandung, $94M)
$80M - Series C
BukuKas (2019, Jakarta, $152M)
$80M - Series C
LummoSHOP (2019, Jakarta, $80M)
$55M - Series C
Pluang (2013, Jakarta, $113M)
ACVentures
(5 Investments)
East Ventures
(4 Investments)
Alpha JWC Ventures
(4 Investments)
Y Combinator
(3 Investments)
Aquaculture Tech
eFishery
Professional Service Robots
Finance & Accounting Tech
BukuKas
E-Commerce Enablers
LummoSHOP
Market Size
Companies Covered 6,560
Funded Companies 872
Total Funding $21.2B
Funding in last 12 months $8.3B
Top Exits
IPOs 11
Acquisitions 88
Company Stage
Unicorns 3
Soonicorns 34
Minicorns 83
Editor Picks 429
Series A+ 207
Series C+ 43
Acqui-Hires 7
Deadpooled 968
Top Cities
Jakarta (743 Rounds, $19.5B)
Tangerang (35 Rounds, $889M)
Top Investors
East Ventures (97 Investments)
ACVentures (41 Investments)

4. Indonesia Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Indonesia Tech as of January 2022
Indonesia Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (January 2022)*
eFishery
(2013, Bandung, $94.0M)
$90.0M - Series C SoftBank Vision Fund
BukuKas
(2019, Jakarta, $152M)
$80.0M - Series C Tiger Global Management
LummoSHOP
(2019, Jakarta, $80.0M)
$80.0M - Series C Sequoia
Pluang
(2013, Jakarta, $113M)
$55.0M - Series C Accel
KoinWorks
(2015, Jakarta, $93.1M)
$43.0M - Series C MDI Ventures
Moladin
(2016, Jakarta, $43.2M)
$42.0M - Series A Global Founders Capital
Aruna
(2016, Jakarta, $70.5M)
$30.0M - Series A Vertex Ventures
Astro
(2021, Jakarta, $31.5M)
$27.0M - Series A Accel
CoLearn
(2019, Jakarta, $34.0M)
$17.0M - Series A TNB Aura
Ayoconnect
(2016, Jakarta, $31.0M)
$15.0M - Series B Tiger Global Management
Otoklix
(2019, Jakarta, $12.0M)
$10.0M - Series A Alpha JWC Ventures
*Shows only the lead Investors

5. Indonesia Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (1/3)
List of Funding Rounds in Indonesia Tech in January 2022
Indonesia Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$43.0M - Series C
KoinWorks (2015, Jakarta, $93.1M)
P2P lending platform
MDI Ventures, ACVentures, Quona Capital, Saison
Capital, East Ventures, and 1 more
LATE STAGE
$55.0M - Series C
Pluang (2013, Jakarta, $113.0M)
App-based investment platform for gold, crypto, and
mutual funds
Accel, Openspace Ventures, THE CHAINSMOKERS,
Square Peg, GO Venture Capital, and 13 more
LATE STAGE
$80.0M - Series C
LummoSHOP (2019, Jakarta, $80.0M)
Provider of storefront solution for online businesses
Sequoia, Tiger Global Management, Hedosophia,
CapitalG, Maximilian Bittner, and 1 more
LATE STAGE
$80.0M - Series C
BukuKas (2019, Jakarta, $152.0M)
App-based bookkeeping software for SMBs
Tiger Global Management, Sequoia Capital, CapitalG,
Santiago Sosa, Max bittner
LATE STAGE
$90.0M - Series C
eFishery (2013, Bandung, $94.0M)
Provider of an IoT-based automatic fish feeding system
SoftBank Vision Fund, Temasek, Sequoia Capital,
Wavemaker Partners, GO Venture Capital, and 2 more
EARLY STAGE
$6.0M - Series A
RateS (2019, , $6.0M)
App-based reselling platform
Vertex Ventures, Beacon VC, Insignia Ventures Partners
EARLY STAGE
$10.0M - Series A
Otoklix (2019, Jakarta, $12.0M)
App-based auto-repair garage aggregator
Alpha JWC Ventures, ACVentures, Surge
EARLY STAGE
$15.0M - Series B
Ayoconnect (2016, Jakarta, $31.0M)
Open network billing API platform for businesses
Tiger Global Management, AltoPartners, PayU, William
Hockey, Jerry Ng
EARLY STAGE
$17.0M - Series A
CoLearn (2019, Jakarta, $34.0M)
Mobile-based platform providing online tutoring
solutions
TNB Aura, KTB Network, BINUS Higher Education,
Alpha Wave Global, Surge, and 4 more

6. Indonesia Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (2/3)
List of Funding Rounds in Indonesia Tech in January 2022
Indonesia Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
6
EARLY STAGE
$27.0M - Series A
Astro (2021, Jakarta, $31.5M)
Online platform offering multi-category grocery
supplies
Accel, Sequoia, ACVentures, Global Founders Capital,
Lightspeed Venture Partners, and 1 more
EARLY STAGE
$30.0M - Series A
Aruna (2016, Jakarta, $70.5M)
Provider of a cloud based fishery management
software
Vertex Ventures, ACVentures, SMDV, Prosus, East
Ventures, and 2 more
EARLY STAGE
$42.0M - Series A
Moladin (2016, Jakarta, $43.2M)
Online listing platform for used cars
Sequoia Capital, Northstar Group, Global Founders
Capital, K3 Ventures, East Ventures
EARLY STAGE
Series A
Stoqo (2017, Jakarta)
Online B2B marketplace for restaurant supplies
Y Combinator, Alpha JWC Ventures
EARLY STAGE
Series B
Kargo (2018, Jakarta, $38.6M)
Online marketplace for freight transportation services
Teleport
SEED STAGE
$2.5M - Seed
Olsera (2015, Batam, $2.5M)
Platform offering POS and online storefront
management software
Orbit
SEED STAGE
$2.6M - Seed
VCGamers (2021, Bekasi, $2.6M)
Online marketplace for trading in-game virtual items
Beenext, Ran Ventures, Ari Fadyl, Jerry Soer
SEED STAGE
$5.2M - Seed
UpBanx (2021, Jakarta, $5.2M)
Digital bank for businesses
Y Combinator, Capital Numbers, Dr.m, AltoPartners,
Alpha JWC Ventures, and 14 more

7. Indonesia Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (3/3)
List of Funding Rounds in Indonesia Tech in January 2022
Indonesia Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
7
SEED STAGE
Seed
Lumina (2021, Tangerang)
Online job board platform for multi-industry
Y Combinator, Alpha JWC Ventures
SEED STAGE
Seed
myrobin.id (2019, Jakarta)
Online recruitment platform provider
Accion, SOSV, Antler, Astor, , and 5 more
SEED STAGE
Seed
Riliv (2015, Surabaya)
Online psychiatric consultation and meditation
platform
East Ventures, Teja Ventures, Sankalpa, Benson
Capital, Indigo Creative Nation, and 1 more

8. Indonesia Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Indonesia Tech in January 2022
Indonesia Tech: List of New Investors
8
Investor Company Info Round Amount Round Name
KTB Network
47 portfolio companies | Stage & sector-agnostic VC firm funding companies in
South Korea and the US
CoLearn
Mobile-based platform providing online tutoring solutions
$17.00M Series A
Dr.m
1 portfolio companies | YouTube-based multi-channel network
UpBanx
Digital bank for businesses
$5.20M Seed
Teleport
2 portfolio companies | Offers freight forwarding, distribution and logistics
services
Kargo
Online marketplace for freight transportation services
Undisclosed Series B
Ran Ventures
1 portfolio companies | Private equity firm focused on digital and SaaS sectors
VCGamers
Online marketplace for trading in-game virtual items
$2.60M Seed
Orbit
1 portfolio companies | Venture capital fund focused on early-stage startups
Olsera
Platform offering POS and online storefront management software
$2.50M Seed
khooinvestment.vdtrxn
1 portfolio companies | Limited information available
myrobin.id
Online recruitment platform provider
Undisclosed Seed
brightnesscapital.vdtrxn
1 portfolio companies | Limited information available
myrobin.id
Online recruitment platform provider
Undisclosed Seed
TNB Aura
6 portfolio companies | Venture capital fund investing in tech startups
CoLearn
Mobile-based platform providing online tutoring solutions
$17.00M Series A
Benson Capital
1 portfolio companies | Benson Capital – Invest in mortgages for residential
financing
Riliv
Online psychiatric consultation and meditation platform
Undisclosed Seed
Collab Asia
1 portfolio companies | Social networking platform for content creators
UpBanx
Digital bank for businesses
$5.20M Seed

9. Indonesia Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Indonesia Tech in January 2022
Indonesia Tech: List of New Investors
9
Investor Company Info Round Amount Round Name
THE CHAINSMOKERS
6 portfolio companies | Music Band
Pluang
App-based investment platform for gold, crypto, and mutual funds
$55.00M Series C
Capital Numbers
1 portfolio companies | Provider of application development and DevOps
services
UpBanx
Digital bank for businesses
$5.20M Seed
BINUS Higher Education
1 portfolio companies | University offering multiple courses and degrees across
diversified streams
CoLearn
Mobile-based platform providing online tutoring solutions
$17.00M Series A
Astor
2 portfolio companies | Diversified investment management firm
myrobin.id
Online recruitment platform provider
Undisclosed Seed
Vulpes Invest
10 portfolio companies | Early-stage tech and offline focused VC & PE firm
investing primarily in Asia
myrobin.id
Online recruitment platform provider
Undisclosed Seed
CapitalG
104 portfolio companies | Venture capital firm backed by Alphabet Investments
LummoSHOP
Provider of storefront solution for online businesses
$80.00M Series C
Hedosophia
7 portfolio companies | Venture capital firm investing in growth-stage
companies
LummoSHOP
Provider of storefront solution for online businesses
$80.00M Series C
Sankalpa
1 portfolio companies | Home | SANKALPA VENTURES
Riliv
Online psychiatric consultation and meditation platform
Undisclosed Seed
BANSEA
5 portfolio companies | Angel Network for Southeast Asia-based companies
myrobin.id
Online recruitment platform provider
Undisclosed Seed
PayU
16 portfolio companies | Payment gateway and POS loan platform for
consumers and businesses
Ayoconnect
Open network billing API platform for businesses
$15.00M Series B

10. Indonesia Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
10
Rank Business Model $ Funding # Rounds Top Funding Round
1 <> 0 Digital Wallets $348M 2 Gojek | $300M | Series H
2 <> 0 B2C Hyperlocal Delivery $300M 1 Gojek | $300M | Series H
3 <> 0 Two Wheeler Ride Hailing $300M 1 Gojek | $300M | Series H
4 <> 0 Multi Products Marketplaces $234M 1 Bukalapak | $234M | Series G
5 -- Business Payments Solutions $215M 3 Xendit | $150M | Series C
6 ▲3 Last Mile Ecommerce Delivery Services $170M 1 SiCepat | $170M | Series B
7 -- Advertisement Based Video On Demand $150M 1 Vidio | $150M | Series D
8 -- Video Sharing Platforms $150M 1 Vidio | $150M | Series D
9 -- Internet First Point of Sale Financing Marketplaces $125M 1 FinAccel | $125M | Series C
10 <> 0 B2B Horizontal Marketplaces $110M 2 Ula | $87.0M | Series B

11. Indonesia Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Indonesia Tech in January 2022
Indonesia Tech: Analyst Picks
11
Upgraded to SOONICORN
eFishery (2013, Bandung, $4.0M, Series A)
Provider of an IoT-based automatic fish feeding system
Unreasonable Capital, SoftBank Vision Fund, GO
Venture Capital and 14 other Investors
Upgraded to SOONICORN
LummoSHOP (2019, Jakarta, $80.0M, Series C)
Provider of storefront solution for online businesses
Santiago Sosa, CapitalG, Locus Ventures and 4 other
Investors
Upgraded to MINICORN
Moladin (2016, Jakarta, Undisclosed, Seed)
Online listing platform for used cars
Global Founders Capital, Berjaya, CyberAgent Capital
and 6 other Investors
Upgraded to MINICORN
Otoklix (2019, Jakarta, $2.0M, Seed)
App-based auto-repair garage aggregator
Plug and Play Tech Center, Surge, ACVentures and 3
other Investors
Upgraded to MINICORN
Astro (2021, Jakarta, $4.5M, Seed)
Online platform offering multi-category grocery
supplies
Accel, Global Founders Capital, Goodwater Capital and
3 other Investors
Upgraded to MINICORN
UpBanx (2021, Jakarta, $5.2M, Seed)
Digital bank for businesses
Oliver Jung, Alpha JWC Ventures, Frances Kang and 16
other Investors
Added to Editor's Pick
Jago Coffee (2018, Jakarta, $250K, Seed)
Internet first brand offering on-demand coffee and
drinks
PT Prasetia Dwidharma,Beenextand
Added to Editor's Pick
Legit Group (2020, Jakarta, $3.0M, Seed)
Platform offering cloud kitchen solution for restaurant
businesses
East Ventures,ACVenturesand
Added to Editor's Pick
Olsera (2015, Batam, $2.5M, Seed)
Platform offering POS and online storefront
management software
Orbit,Kejora Capitaland
Added to Editor's Pick
VCGamers (2021, Bekasi, $2.6M, Seed)
Online marketplace for trading in-game virtual items
Ari Fadyl, Beenext, Ran Ventures and 1 other Investors

12. Indonesia Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Indonesia Tech in January 2022
Indonesia Tech: Analyst Picks
12
Added to Editor's Pick
Bisnis (1985, Jakarta, Unfunded)
Online platform providing multi-category news
Added to Editor's Pick
RANS Entertainment (2021, , Undisclosed, Seed)
Online platform offering music video production
solutions
Added to Editor's Pick
Kipin School 4.0 (2019, Jakarta, Unfunded)
Cloud and app-based platform offering school
management solutions

13. Indonesia Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in Indonesia Tech in January 2022
Indonesia Tech: Acquisitions
13
Acq. Date Company Acquirer Deal Size
26 Jan 2022
Warung Pintar(2017, Jakarta, $41.5M)
Provider of retail store aggregator solution for local merchants
SIRCLO
26 Jan 2022
Telunjuk.com(2012, Jakarta)
Online price comparison platform for multi-category products
Sukanda Djaya

14. Indonesia Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Indonesia Tech in January 2022
Indonesia Tech:News
14
Exit News
.
● SIRCLO Group acquires Warung Pintar to strengthen its omnichannel
commerce strategy E27
.
● Bukalapak's value plummets five months after IPO MARKETING-INTERACTIVE
.
● Ardian acquires Biofarma from White Bridge Unquote
.
● Akulaku Considers Going Public Through SPAC at $2B PYMNTS.com
.
Company News
.
● Biogen-Eisai's potential Aduhelm sequel drug granted speedy review by FDA
Fierce Biotech

15. Indonesia Tech - January 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Explore more on Tracxn
Explore more about Indonesia Tech on Tracxn Platform
Indonesia Tech: Explore more on Tracxn Platform
15
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Indonesia
AI Companies in Indonesia
Fintech Companies Indonesia
Consumer Digital in Indonesia
Company Due Diligence
Detailed profile of Traveloka
Competitors of Ajaib
Cap Tables of Xendit
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
Recent News
News on People
News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

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