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1. TRACXN MONTHLY REPORT
JANUARY 2021
INDONESIA TECH

2. Indonesia Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
2
Indonesia Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 7
Top Funded Business Models - last 1 year 8
New Analyst Picks 9
Recent News 10

3. Indonesia Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Indonesia Tech Snapshot – January 2021
Indonesia Tech: Snapshot – January 2021
Note : "Investors" refers to "Institutional Investors" only
3
$367M
11
Overall Geo Stats
8
34
5
12
Funding Rounds $ Invested Analyst Picks
Ajaib Upgraded to
MINICORN
New Investors
Ant Financial
XA Network
Series A+ rounds Active Investors IPOs Acquisitions
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Jakarta
(11 Rounds, $367M)
Surabaya
(11 Rounds, $367M)
$200M - Series G
Bukalapak (2010, Jakarta, $350M)
$55M - Series C
KGbio (2016, Jakarta, $55M)
$30M - Series B
Bibit (2016, Jakarta, $45M)
$25M - Series A
Ajaib (2018, Jakarta, $27.2M)
Alpha JWC Ventures
(3 Investments)
Insignia Ventures
Partners
(2 Investments)
Golden Gate Ventures
(2 Investments)
Quona Capital
(2 Investments)
Horizontal E-Commerce
Bukalapak
Second Hand Goods
Investment Tech
Bibit
Nephrology
KGbio
Market Size
Companies Covered 4,984
Funded Companies 776
Total Funding $12.9B
Funding in last 12 months $3.7B
Top Exits
IPOs 19
Acquisitions 78
Company Stage
Unicorns 4
Soonicorns 16
Minicorns 73
Editor Picks 314
Series A+ 175
Series C+ 26
Acqui-Hires 8
Deadpooled 910
Top Cities
Jakarta (611 Rounds, $12.0B)
Bandung (28 Rounds, $26.0M)
Top Investors
East Ventures (87 Investments)
Alpha JWC Ventures (34
Investments)

4. Indonesia Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Indonesia Tech as of January 2021
Indonesia Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (January 2021)*
Bukalapak
(2010, Jakarta, $350M)
$200M - Series G Standard Chartered
KGbio
(2016, Jakarta, $55.0M)
$55.0M - Series C General Atlantic
Bibit
(2016, Jakarta, $45.0M)
$30.0M - Series B Sequoia
Ajaib
(2018, Jakarta, $27.2M)
$25.0M - Series A Horizons Ventures
Alami Sharia
(2017, Jakarta, $21.5M)
$20.0M - Series A ACVentures
Ula
(2019, Jakarta, $30.5M)
$20.0M - Series A Quona Capital
BukuKas
(2019, Jakarta, $22.0M)
$10.0M - Series A Endeavor
Sampingan
(2018, Jakarta, $7.1M)
$5.0M - Series A Altara Ventures
CrediBook
(2019, Jakarta, $1.5M)
$1.5M - Series A Wavemaker Partners
*Shows only the lead Investors

5. Indonesia Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (1/2)
List of Funding Rounds in Indonesia Tech in January 2021
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
$55.0M - Series C
KGbio (2016, Jakarta, $55.0M)
Developer of drugs for treating chronic kidney disease
General Atlantic
LATE STAGE
$200.0M - Series G
Bukalapak (2010, Jakarta, $350.0M)
Online marketplace platform offering multi-category
products
Standard Chartered
LATE STAGE
Series C
BLUEmart (2018, Jakarta)
Smart vending machines and mobile payment solutions
provider
Ant Financial, Joy Capital
EARLY STAGE
$1.5M - Series A
CrediBook (2019, Jakarta, $1.5M)
Debt management software for consumers and
businesses
Wavemaker Partners, Alpha JWC Ventures, Insignia
Ventures Partners
EARLY STAGE
$5.0M - Series A
Sampingan (2018, Jakarta, $7.1M)
Platform for hiring and managing blue collar workforce
Altara Ventures, Antler, iSeed Ventures, Golden Gate
Ventures, XA Network, and 1 more
EARLY STAGE
$10.0M - Series A
BukuKas (2019, Jakarta, $22.0M)
App-based bookkeeping software for SMBs
Sequoia, FounderBank Capital, Saison Capital,
Endeavor, Cambium Grove Capital, and 2 more
EARLY STAGE
$20.0M - Series A
Ula (2019, Jakarta, $30.5M)
Online marketplace offering groceries
Quona Capital, B Capital Group, Lightspeed Venture
Partners, Sequoia Capital
EARLY STAGE
$20.0M - Series A
Alami Sharia (2017, Jakarta, $21.5M)
Online P2P lending marketplace for invoice financing
ACVentures, Golden Gate Ventures, Quona Capital
EARLY STAGE
$25.0M - Series A
Ajaib (2018, Jakarta, $27.2M)
Online investing platform for stocks and mutual funds
Horizons Ventures, Alpha JWC Ventures, SoftBank
Ventures Asia, Y Combinator, Insignia Ventures
Partners

6. Indonesia Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (2/2)
List of Funding Rounds in Indonesia Tech in January 2021
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
$30.0M - Series B
Bibit (2016, Jakarta, $45.0M)
App-based mutual funds investment platform
Sequoia, ACVentures, East Ventures, 500 Startups
EARLY STAGE
Series A
PT Zenius Education (2007, Jakarta, $20.0M)
Online courses for school education
Openspace Ventures, Alpha JWC Ventures, Kinesys,
Beenext, Northstar Group
SEED STAGE
Seed
PinjamWinwin (2014, Surabaya)
Online lending platform
The Mobile Only Accelerator

7. Indonesia Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors
List of New Investors in Indonesia Tech in January 2021
Indonesia Tech: List of New Investors
7
Investor Company Info Round Amount Round Name
Ant Financial
6 portfolio companies | Digital payment solutions for consumers & businesses
BLUEmart
Smart vending machines and mobile payment solutions provider
Undisclosed Series C
XA Network
8 portfolio companies | Angel networks focused on tech startups
Sampingan
Platform for hiring and managing blue collar workforce
$5.00M Series A
FounderBank Capital
2 portfolio companies | Venture capital firm investing in tech startups
BukuKas
App-based bookkeeping software for SMBs
$10.00M Series A
Kinesys
1 portfolio companies | Automated Motion Control Products & Systems -
Kinesys
PT Zenius Education
Online courses for school education
Undisclosed Series A
Altara Ventures
1 portfolio companies | Altara Ventures |
Sampingan
Platform for hiring and managing blue collar workforce
$5.00M Series A
iSeed Ventures
18 portfolio companies | Early-stage tech and life sciences focused VC firm
investing primarily in the US
Sampingan
Platform for hiring and managing blue collar workforce
$5.00M Series A
Access Ventures
13 portfolio companies | Tech-focused impact VC firm investing primarily in the
US
Sampingan
Platform for hiring and managing blue collar workforce
$5.00M Series A
Standard Chartered
49 portfolio companies | Commercial bank
Bukalapak
Online marketplace platform offering multi-category products
$200M Series G

8. Indonesia Tech - January 2021 Copyright © 2021, Tracxn Technologies Private 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.
8
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲1 Digital Wallets $1.4B 8 Gojek | $1.2B | Series F
2 ▲1 Bike Taxi $1.4B 5 Gojek | $1.2B | Series F
3 -- Online Horizontal Marketplace $1.1B 4 Tokopedia | $500M | Series H
4 ▼-3 Online Travel Agencies $250M 1 Traveloka | $250M | Series D
5 ▲3 On Demand Warehousing Marketplaces $100M 1 Waresix | $100M | Series B
6 ▲12 Horizontal B2B Marketplaces $86.4M 5 GudangAda | $25.4M | Series A
7 <> 0 Online Beauty Retailer $58.0M 1 Sociolla | $58.0M | Series E
8 -- Nephrology > Drugs $55.0M 1 KGbio | $55.0M | Series C
9 -- Ecommerce Last Mile Delivery Services $50.0M 2 SiCepat | $50.0M | Series B
10 ▲4 Long Haul Trucking Marketplace $37.0M 3 Kargo | $31.0M | Series A

9. Indonesia Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks
Interesting Companies identified by Analysts in Indonesia Tech in January 2021
Indonesia Tech: Analyst Picks
9
Upgraded to MINICORN
Ajaib (2018, Jakarta, $25.0M, Series A)
Online investing platform for stocks and mutual funds
Horizons Ventures, Sequoia Capital, Alpha JWC
Ventures and 3 other Investors
Upgraded to MINICORN
Alami Sharia (2017, Jakarta, Undisclosed,
Conventional Debt)
Online P2P lending marketplace for invoice financing
tryb, RISE Conf, Aamir Rahim and 5 other Investors
Added to Editor's Pick
Orori (2004, Jakarta, Undisclosed, Series B)
Online retail platform offering jewelry
Spiral Ventures, Ideosource, East Ventures and 3 other
Investors
Added to Editor's Pick
Pricebook (2013, Jakarta, Undisclosed, Series B)
Online platform offering price comparison for
consumer electronics
Toyota Motor, Spiral Ventures, Aucfan and 5 other
Investors
Added to Editor's Pick
Recurfi (2020, Jakarta, Unfunded)
AI-enabled subscription-based fundraising platform

10. Indonesia Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Indonesia Tech in January 2021
Indonesia Tech:News
10
Exit News
.
● Gojek acquires payments startup Moka for US$130m The Business Times
.
● Indonesia’s Bank Net Syariah Set to Raises US$37M from the IPO The Insider
Stories
.
● SoftBank's Masayoshi Son poised for another IPO windfall in 2021 The Straits
Times
.
People News
.
● Indonesia's Aquaculture Startup eFishery Appoints Former GoPay CEO As New
Commissioner Volanews
.
● Indonesia's Aquaculture Startup eFishery Appoints Former GoPay CEO As New
Commissioner Volanews

11. Indonesia Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Explore more on Tracxn
Explore more about Indonesia Tech on Tracxn Platform
Indonesia Tech: Explore more on Tracxn Platform
11
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 Tokopedia
Competitors of Traveloka
Cap Tables of Bukalapak
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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