The Tracxn monthly report for June 2021 provides an overview of the Indonesian tech ecosystem, highlighting significant funding rounds, key investors, and emerging business models. A total of $76.1 million was invested across various funding rounds, with notable investments in companies like Bukuwarung and Amartha. The report also identifies analysts' picks, showing the rise of soonicorns and the current trends in tech investments within the country.

1. TRACXN MONTHLY REPORT
JUNE 2021
INDONESIA TECH

2. Indonesia Tech - June 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 11

3. Indonesia Tech - June 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Indonesia Tech Snapshot – June 2021
Indonesia Tech: Snapshot – June 2021
Note : "Investors" refers to "Institutional Investors" only
3
$76.1M
6
Overall Geo Stats
10
28
16
12
Funding Rounds $ Invested Analyst Picks
BukuWarung
Upgraded to
SOONICORN
New Investors
Norfund
KDDI
Series A+ rounds Active Investors IPOs Acquisitions
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Jakarta
(10 Rounds, $76.1M)
West Jakarta
(10 Rounds, $76.1M)
Yogyakarta
(10 Rounds, $76.1M)
$60M - Series A
BukuWarung (2019, Jakarta, $80M)
$7.5M - Series C
Amartha (2010, Jakarta, $35.5M)
$5.6M - Series A
Wagely (2019, Jakarta, $5.6M)
$3M - Seed
Prixa (2019, Jakarta, $4.5M)
MDI Ventures
(2 Investments)
ACVentures
(2 Investments)
Samsung Venture
Investment
(1 Investments)
500 Startups
(1 Investments)
Finance & Accounting Tech
BukuWarung
Alternative Lending
Amartha
HRTech
Wagely
Healthcare Booking Platforms
Prixa
Market Size
Companies Covered 5,632
Funded Companies 810
Total Funding $14.5B
Funding in last 12 months $3.2B
Top Exits
IPOs 19
Acquisitions 89
Company Stage
Unicorns 3
Soonicorns 26
Minicorns 74
Editor Picks 357
Series A+ 185
Series C+ 30
Acqui-Hires 7
Deadpooled 944
Top Cities
Jakarta (656 Rounds, $13.4B)
Bandung (30 Rounds, $31.2M)
Top Investors
East Ventures (88 Investments)
Alpha JWC Ventures (37
Investments)

4. Indonesia Tech - June 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Indonesia Tech as of June 2021
Indonesia Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (June 2021)*
BukuWarung
(2019, Jakarta, $80.0M)
$60.0M - Series A Valar Ventures
Amartha
(2010, Jakarta, $35.5M)
$7.5M - Series C Norfund
Wagely
(2019, Jakarta, $5.6M)
$5.6M - Series A Integra Partners
Prixa
(2019, Jakarta, $4.5M)
$3.0M - Seed MDI Ventures
*Shows only the lead Investors

5. Indonesia Tech - June 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (1/2)
List of Funding Rounds in Indonesia Tech in June 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
$7.5M - Series C
Amartha (2010, Jakarta, $35.5M)
Microfinance P2P lending platform
Norfund
LATE STAGE
Series C
WOOK (2010, Jakarta, $22.0M)
B2B e-commerce platform connecting Chinese
consumer electronics brands with Indonesian retailers
Engage Capital, Tian Ge
LATE STAGE
Series C
Alodokter (2014, Jakarta, $51.5M)
Online marketplace for booking doctor appointment
MDI Ventures, Samsung Venture Investment
EARLY STAGE
$5.6M - Series A
Wagely (2019, Jakarta, $5.6M)
Online platform for earned wages
Integra Partners, Global Founders Capital, Triputra
Group, 1982 Ventures, ADB Ventures, and 1 more
EARLY STAGE
$60.0M - Series A
BukuWarung (2019, Jakarta, $80.0M)
Bookkeeping software for businesses
Valar Ventures, Goodwater Capital, Aldi
Haryopratomo, Victor Jacobsson
EARLY STAGE
Series B
Qlue (2014, Jakarta)
Provider of end to end solutions for smart cities
KDDI, TMI, ASLI
SEED STAGE
$3.0M - Seed
Prixa (2019, Jakarta, $4.5M)
Provider of AI-based practice management software
for doctors
MDI Ventures, Trans-Pacific Technology Fund, Siloam
Hospitals
SEED STAGE
Seed
Justika (2016, Jakarta)
Online legal directory provider
East Ventures, Skystar Capital
SEED STAGE
Seed
KLAR (2013, Jakarta)
Internet first brand offering fashion accessories for
women
ACVentures

6. Indonesia Tech - June 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (2/2)
List of Funding Rounds in Indonesia Tech in June 2021
Indonesia Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
6
SEED STAGE
Seed
Dagangan (2008, West Jakarta)
Online distributor of multi-category products
500 Startups, CyberAgent Capital, Spiral Ventures, Blue
Bird Group
SEED STAGE
Seed
KLAR Aligner (2020, Yogyakarta)
Developer of aligners for orthodontic treatment
ACVentures, Kopi kenangan
SEED STAGE
Seed
GoKampus (2018, Jakarta)
Provider of platform for college registration for
admission
Sovereign's Capital, SALT VENTURES, Azure Investment
Partners

7. Indonesia Tech - June 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors
List of New Investors in Indonesia Tech in June 2021
Indonesia Tech: List of New Investors
7
Investor Company Info Round Amount Round Name
Norfund
54 portfolio companies | Energy sector focused VC firm funding companies in
Asia, Africa and North America
Amartha
Microfinance P2P lending platform
$7.50M Series C
KDDI
26 portfolio companies | Telecom and data center service provider
Qlue
Provider of end to end solutions for smart cities
Undisclosed Series B
Valar Ventures
90 portfolio companies | VC firm investing globally
BukuWarung
Bookkeeping software for businesses
$60.00M Series A
Siloam Hospitals
1 portfolio companies | Chain of multispeciality hospitals
Prixa
Provider of AI-based practice management software for doctors
$3.00M Seed
Engage Capital
10 portfolio companies | Tech focused early stage VC firm investing in China
WOOK
B2B e-commerce platform connecting Chinese consumer electronics
brands with Indonesian retailers
Undisclosed Series C
Blue Bird Group
1 portfolio companies | Provider of transportation and logistics services
Dagangan
Online distributor of multi-category products
Undisclosed Seed
ADB Ventures
6 portfolio companies | VC & startup accelerator backed by ADB Bank
Wagely
Online platform for earned wages
$5.60M Series A
Tian Ge
6 portfolio companies | Real-time, interactive social video platform and
distributing platform of mobile games
WOOK
B2B e-commerce platform connecting Chinese consumer electronics
brands with Indonesian retailers
Undisclosed Series C
SALT VENTURES
2 portfolio companies | SALT VENTURES
GoKampus
Provider of platform for college registration for admission
Undisclosed Seed
Azure Investment Partners
1 portfolio companies | Venture capital firm focused on multiple sectors
GoKampus
Provider of platform for college registration for admission
Undisclosed Seed

8. Indonesia Tech - June 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 ▲3 Horizontal E-Commerce > Marketplace $884M 4 Tokopedia | $350M | Series H
2 <> 0 B2C Hyperlocal Delivery $450M 2 Gojek | $300M | Series H
3 <> 0 Two Wheeler Ride Hailing $450M 2 Gojek | $300M | Series H
4 ▼-3 Digital Wallets $450M 4 Gojek | $300M | Series H
5 -- Last Mile Ecommerce Delivery $270M 2 SiCepat | $170M | Series B
6 -- Ecommerce Last Mile Delivery $270M 2 SiCepat | $170M | Series B
7 -- Online Travel Agencies $250M 1 Traveloka | $250M | Series D
8 ▲17 Online Self Storage Services Providers $102M 2 Waresix | $100M | Series B
9 ▲17 Warehousing Marketplace $102M 2 Waresix | $100M | Series B
10 ▲17 Warehouse Marketplace $102M 2 Waresix | $100M | Series B

9. Indonesia Tech - June 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Indonesia Tech in June 2021
Indonesia Tech: Analyst Picks
9
Upgraded to SOONICORN
BukuWarung (2019, Jakarta, Undisclosed, Seed)
Bookkeeping software for businesses
GMO Venture Partners, Valar Ventures, DST Global and
27 other Investors
Upgraded to SOONICORN
Amartha (2010, Jakarta, Undisclosed, Series B)
Microfinance P2P lending platform
Beenext, Norfund, MidPlaza Holding and 9 other
Investors
Upgraded to MINICORN
Wagely (2019, Jakarta, $5.6M, Series A)
Online platform for earned wages
ADB Ventures, Global Founders Capital, Triputra Group
and 3 other Investors
Added to Editor's Pick
Qlue (2014, Jakarta, Undisclosed, Series A)
Provider of end to end solutions for smart cities
KDDI, ASLI, TMI and 9 other Investors
Added to Editor's Pick
Prixa (2019, Jakarta, $3.0M, Seed)
Provider of AI-based practice management software
for doctors
Trans-Pacific Technology Fund,MDI Ventures,Siloam
Hospitalsand
Added to Editor's Pick
Akulaku Finance (2018, Jakarta, Unfunded)
App-based platform for consumer loans
Added to Editor's Pick
Jenius (2016, Jakarta, Unfunded)
Digital bank for individuals and businesses

10. Indonesia Tech - June 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Indonesia Tech in June 2021
Indonesia Tech: Analyst Picks
10
Added to Editor's Pick
Rupiah Cepat (2018, Jakarta, Unfunded)
App-based marketplace for consumer and business
loans
Added to Editor's Pick
Sembilan Kita (2020, Bandung, Unfunded)
App-based appointment booking platform for beauty
services
Added to Editor's Pick
Kejarcita (2017, Jakarta, Unfunded)
Mobile-based platform providing quiz-based learning
solutions for school students
Added to Editor's Pick
Boyongan (2021, Bekasi, Unfunded)
Offers relocation service app
Added to Editor's Pick
Taaruf ID (2019, Unfunded)
Platform for providing algorithm based matchmaking
listings
Added to Editor's Pick
Okfits (2019, Malang, Unfunded)
Mobile-based application offering fitness and nutrition
training
Added to Editor's Pick
Selleri (2021, Jakarta, Unfunded)
App-based reselling platform for multi-category
products
Kejora Venturesand
Added to Editor's Pick
Koloni (2018, Jakarta, Unfunded)
Provider of the influencer marketing software solution
Added to Editor's Pick
Indonesia Trade Hub (2020, Bandung, Unfunded)
Commodities trading marketplace connecting farmers,
buyers & investors

11. Indonesia Tech - June 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Indonesia Tech in June 2021
Indonesia Tech:News
11
Exit News
.
● Indonesia’s Bukalapak aiming for up to $800 million in IPO retailnews.asia
.
● Lendlease Reit's perp issue signals potential acquisition: CGS-CIMB The Business
Times
.
Company News
.
● FDA grants accelerated approval for ADUHELM as the first and only
Alzheimer's disease treatment to address a d... ACN Newswire
.
● Japan's Eisai helps Alzheimer’s patients access ADUHELM post-FDA approval
BioSpectrum Asia

12. Indonesia Tech - June 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
12
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 Bukalapak
Cap Tables of OVO
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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