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1. TRACXN MONTHLY REPORT
DECEMBER 2021
INDONESIA TECH

2. Indonesia Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
2
Indonesia Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 6
Top Funded Business Models - last 1 year 7
New Analyst Picks 8
Acquisitions 10
Recent News 11

3. Indonesia Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Indonesia Tech Snapshot – December 2021
Indonesia Tech: Snapshot – December 2021
Note : "Investors" refers to "Institutional Investors" only
3
$131M
5
Overall Geo Stats
9
2
27
11
9
Funding Rounds $ Invested Analyst Picks
Flip Upgraded to
SOONICORN
New Investors
eWTP Capital
Wright
Series A+ rounds Active Investors IPOs Acquisitions
Dafam Hotel
Management
MyBrand Indonesia
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Jakarta
(5 Rounds, $58M)
Depok
(1 Rounds, $48M)
Bandung
(1 Rounds, $48M)
Tangerang
(1 Rounds, $48M)
$48M - Series B
Flip (2016, Depok, $65M)
$36M - Series C
Lemonilo (2016, Jakarta, $36M)
$25M - Series B
Fuse (2017, West Jakarta, $50M)
$12M - Series A
Bureau (2019, Jakarta, $16.2M)
East Ventures
(2 Investments)
MDI Ventures
(2 Investments)
Sequoia Capital
(1 Investments)
Insight Partners
(1 Investments)
Payments
Flip
Online Grocery
Lemonilo
Insurance IT
Fuse
Cybersecurity
Bureau
Market Size
Companies Covered 6,411
Funded Companies 857
Total Funding $16.0B
Funding in last 12 months $3.4B
Top Exits
IPOs 11
Acquisitions 85
Company Stage
Unicorns 3
Soonicorns 33
Minicorns 79
Editor Picks 416
Series A+ 202
Series C+ 38
Acqui-Hires 7
Deadpooled 937
Top Cities
Jakarta (723 Rounds, $14.3B)
Bandung (34 Rounds, $61.2M)
Top Investors
East Ventures (93 Investments)
Alpha JWC Ventures (37
Investments)

4. Indonesia Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Indonesia Tech as of December 2021
Indonesia Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (December 2021)*
Flip
(2016, Depok, $65.0M)
$48.0M - Series B Sequoia Capital
Lemonilo
(2016, Jakarta, $36.0M)
$36.0M - Series C Sofina
Fuse
(2017, West Jakarta, $50.0M)
$25.0M - Series B East Ventures
Bureau
(2019, Jakarta, $16.2M)
$12.0M - Series A Quona Capital
Cakap
(2015, Jakarta, $13.0M)
$10.0M - Series B
*Shows only the lead Investors

5. Indonesia Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds
List of Funding Rounds in Indonesia Tech in December 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
$36.0M - Series C
Lemonilo (2016, Jakarta, $36.0M)
Platform offering multi-category grocery supplies
Sofina, Sequoia
EARLY STAGE
$10.0M - Series B
Cakap (2015, Jakarta, $13.0M)
SaaS and app-based platform providing multiple
language learning solutions
, Heritas Capital Management, KB Investment
EARLY STAGE
$12.0M - Series A
Bureau (2019, Jakarta, $16.2M)
Provider of a secured platform for mobile transactions
Quona Capital, Sweat Equity Ventures, XYZ Venture
Capital, Blume Ventures, EMVC, and 5 more
EARLY STAGE
$25.0M - Series B
Fuse (2017, West Jakarta, $50.0M)
Insurance quoting software for the insurance industry
eWTP Capital, Emtek, East Ventures, GGV Capital
EARLY STAGE
$48.0M - Series B
Flip (2016, Depok, $65.0M)
App-based wallet for consumers and businesses
Sequoia Capital, Insight Partners, Insignia Ventures
Partners
SEED STAGE
Seed
Praktis (2016, Bandung)
Platform offering supply chain operational services
East Ventures, Triputra Group
SEED STAGE
Seed
Pitik (2019, Tangerang)
Provider of end-to-end poultry supply chain solutions
Arise Virtual Solutions, Wavemaker Partners, MDI
Ventures
SEED STAGE
Seed
Tokocrypto (2017, Jakarta)
Wallet solution provider for cryptocurrencies
Signum Capital
SEED STAGE
Seed
AgriAku (2021, Jakarta)
Distribution enabler for crop inputs
Arise, Wright, MDI Ventures

6. Indonesia Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors
List of New Investors in Indonesia Tech in December 2021
Indonesia Tech: List of New Investors
6
Investor Company Info Round Amount Round Name
eWTP Capital
8 portfolio companies | Venture capital funds focused on tech startups
Fuse
Insurance quoting software for the insurance industry
$25.00M Series B
Wright
1 portfolio companies | Wright Partners | Wright Partners
AgriAku
Distribution enabler for crop inputs
Undisclosed Seed
centaurifund.com
1 portfolio companies |
Cakap
SaaS and app-based platform providing multiple language learning
solutions
$10.00M Series B
Insight Partners
683 portfolio companies | Funds of fund focused on multiple sectors
Flip
App-based wallet for consumers and businesses
$48.00M Series B
Signum Capital
34 portfolio companies | Blockchain consultancy firm
Tokocrypto
Wallet solution provider for cryptocurrencies
Undisclosed Seed
Commerce Ventures
92 portfolio companies | VC firm investing in retail & financial services sectors
Bureau
Provider of a secured platform for mobile transactions
$12.00M Series A
Arise Virtual Solutions
1 portfolio companies | Provider of outsourced customer services
Pitik
Provider of end-to-end poultry supply chain solutions
Undisclosed Seed
Okta
22 portfolio companies | Cloud based multi factor authentication solutions
provider
Bureau
Provider of a secured platform for mobile transactions
$12.00M Series A
Sofina
70 portfolio companies | Investment firm focusing on long-term minority
investment
Lemonilo
Platform offering multi-category grocery supplies
$36.00M Series C

7. Indonesia Tech - December 2021 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.
7
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲3 Multi Products Marketplaces $434M 2 Bukalapak | $234M | Series G
2 ▼-1 Digital Wallets $348M 2 Gojek | $300M | Series H
3 ▼-1 B2C Hyperlocal Delivery $300M 1 Gojek | $300M | Series H
4 ▼-1 Two Wheeler Ride Hailing $300M 1 Gojek | $300M | Series H
5 -- Business Payments Solutions $215M 3 Xendit | $150M | Series C
6 -- Advertisement Based Video On Demand $150M 1 Vidio | $150M | Series D
7 -- Video Sharing Platforms $150M 1 Vidio | $150M | Series D
8 ▲1 Horizontal B2B Marketplaces $130M 3 Ula | $87.0M | Series B
9 ▲14 B2B Grocery Marketplace $130M 3 Ula | $87.0M | Series B
10 -- Internet First Point of Sale Financing Marketplaces $125M 1 FinAccel | $125M | Series C

8. Indonesia Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Indonesia Tech in December 2021
Indonesia Tech: Analyst Picks
8
Upgraded to SOONICORN
Flip (2016, Depok, Undisclosed, Seed)
App-based wallet for consumers and businesses
Insignia Ventures Partners,Insight Partners,Sequoia
Capitaland
Upgraded to SOONICORN
Fuse (2017, West Jakarta, $25.0M, Series B)
Insurance quoting software for the insurance industry
East Ventures, GGV Capital, SMDV and 5 other
Investors
Upgraded to MINICORN
Lemonilo (2016, Jakarta, Undisclosed, Seed)
Platform offering multi-category grocery supplies
East Ventures, Alpha JWC Ventures, Sequoia and 1
other Investors
Upgraded to MINICORN
Bureau (2019, Jakarta, $4.2M, Seed)
Provider of a secured platform for mobile transactions
Quona Capital, Okta, Sweat Equity Ventures and 7
other Investors
Added to Editor's Pick
Komunal (2018, Surabaya, $2.1M, Series A)
Online P2P lending marketplace
East Ventures,Skystar Capitaland
Added to Editor's Pick
Tokocrypto (2017, Jakarta, Undisclosed, Seed)
Wallet solution provider for cryptocurrencies
Binance Labs,Signum Capital,QCP Capitaland
Added to Editor's Pick
KaryaKarsa (2019, Jakarta, $500K, Seed)
Provides a crowdfunding platform
Accelerating Asia,Sketchnoteand
Added to Editor's Pick
Astro (2021, Jakarta, $4.5M, Seed)
Online platform offering multi-category grocery
supplies
Global Founders Capital, ACVentures, Lightspeed
Venture Partners and 1 other Investors

9. Indonesia Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Indonesia Tech in December 2021
Indonesia Tech: Analyst Picks
9
Added to Editor's Pick
Shinta VR (2015, Tangerang, Undisclosed, Seed)
Developer of VR content and custom VR applications
, Tigalapan Investama, Tinc and 1 other Investors
Added to Editor's Pick
Makmur (2020, Jakarta, Undisclosed, Seed)
App-based mutual fund investment platform for
individuals
Andrew Lee, Vidit Agrawal, Beenext and 4 other
Investors
Added to Editor's Pick
Nord & Smith (2020, Jakarta, Unfunded)
Provider of platform for OOH ad campaign and data
reporting

10. Indonesia Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in Indonesia Tech in December 2021
Indonesia Tech: Acquisitions
10
Acq. Date Company Acquirer Deal Size
07 Dec 2021
Dafam Hotel Management(2010, Semarang)
Provider of hotel management services
Artotel Group
27 Dec 2022
MyBrand Indonesia(2018, Jakarta)
Online marketplace for selling food products
Yummy Corp

11. Indonesia Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Indonesia Tech in December 2021
Indonesia Tech:News
11
People News
.
● Bukalapak CEO to step down months after taking firm public Tech in Asia
.
Company News
.
● Investigational Alzheimer's Disease Therapy Lecanemab Granted Fda Fast
Track Designation PR Newswire

12. Indonesia Tech - December 2021 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
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 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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