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1. TRACXN MONTHLY REPORT
DECEMBER 2020
INDONESIA TECH

2. Indonesia Tech - December 2020 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 6
Top Funded Business Models - last 1 year 7
New Analyst Picks 8
Acquisitions 9
Recent News 10

3. Indonesia Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Indonesia Tech Snapshot – December 2020
Indonesia Tech: Snapshot – December 2020
Note : "Investors" refers to "Institutional Investors" only
3
$56.5M
5
Overall Geo Stats
3
17
47
Funding Rounds $ Invested Analyst Picks
Pintek Upgraded to
MINICORN
New Investors
Ashmore
Gayo Capital
Series A+ rounds Active Investors IPOs Acquisitions
Trukita#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Jakarta
(6 Rounds, $56.5M)
Tangerang
(6 Rounds, $56.5M)
$50M - Series B
SiCepat (2014, Jakarta, $104M)
$3.5M - Series A
Bareksa (2013, Jakarta, $3.5M)
$3M - Series A
Cakap (2013, Jakarta, $3M)
- Series A
Brodo Ganesha Indonesia (2010,
Jakarta, )
InvestIdea
(1 Investments)
Finch Capital
(1 Investments)
Accion
(1 Investments)
Ashmore
(1 Investments)
Logistics Tech
SiCepat
E-Commerce Logistics
Investment Tech
Bareksa
Language Learning
Cakap
Market Size
Companies Covered 4,885
Funded Companies 761
Total Funding $12.9B
Funding in last 12 months $3.4B
Top Exits
IPOs 19
Acquisitions 78
Company Stage
Unicorns 5
Soonicorns 17
Minicorns 69
Editor Picks 308
Series A+ 168
Series C+ 26
Acqui-Hires 8
Deadpooled 910
Top Cities
Jakarta (605 Rounds, $11.9B)
Bandung (28 Rounds, $26.0M)
Top Investors
East Ventures (86 Investments)
Alpha JWC Ventures (33
Investments)

4. Indonesia Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Indonesia Tech as of December 2020
Indonesia Tech: Investment Snapshot
4
# Rounds$ Funding
Investment Trend Top Investments (December 2020)*
SiCepat
(2014, Jakarta, $104M)
$50.0M - Series B
Bareksa
(2013, Jakarta, $3.5M)
$3.5M - Series A Ashmore
Cakap
(2013, Jakarta, $3.0M)
$3.0M - Series A Heritas Capital Management
*Shows only the lead Investors

5. Indonesia Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds
List of Funding Rounds in Indonesia Tech in December 2020
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
Series C
LinkAja (2019, Jakarta, $100.0M)
App-based mobile payment platform for consumers
EARLY STAGE
$3.0M - Series A
Cakap (2013, Jakarta, $3.0M)
Online language learning application for multiple
languages
Heritas Capital Management, InvestIdea, Strategic
Year, Prasetia Dwidharma
EARLY STAGE
$3.5M - Series A
Bareksa (2013, Jakarta, $3.5M)
Online trading platform focused on mutual funds
Ashmore
EARLY STAGE
$50.0M - Series B
SiCepat (2014, Jakarta, $103.5M)
App-based provider of e-commerce delivery services
EARLY STAGE
Series A
Brodo Ganesha Indonesia (2010, Jakarta)
Private label fashion brand for men
SEED STAGE
Seed
Pintek (2018, Jakarta, $5.0M)
Educational loan service provider
Finch Capital, Accion
SEED STAGE
Seed
Tunas Farm (2020, Tangerang)
Produces and supplies organic microgreens using
indoor vertical farming
Gayo Capital

6. Indonesia Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors
List of New Investors in Indonesia Tech in December 2020
Indonesia Tech: List of New Investors
6
Investor Company Info Round Amount Round Name
Ashmore
6 portfolio companies | Investment management firm
Bareksa
Online trading platform focused on mutual funds
$3.54M Series A
Gayo Capital
1 portfolio companies | Venture capital firm investing in tech startups
Tunas Farm
Produces and supplies organic microgreens using indoor vertical
farming
Undisclosed Seed
Strategic Year
1 portfolio companies | Investment firm investing in private equity & real estate
Cakap
Online language learning application for multiple languages
$3.00M Series A

7. Indonesia Tech - December 2020 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.
7
Rank Business Model $ Funding # Rounds Top Funding Round
1 <> 0 Digital Wallets $1.4B 8 Gojek | $1.2B | Series F
2 <> 0 B2C Hyperlocal Delivery $1.4B 5 Gojek | $1.2B | Series F
3 <> 0 Bike Taxi $1.4B 5 Gojek | $1.2B | Series F
4 ▲3 Online Horizontal Marketplace $950M 3 Tokopedia | $500M | Series H
5 ▼-1 Online Travel Agencies $250M 1 Traveloka | $250M | Series D
6 ▲10 On Demand Warehousing Marketplaces $111M 2 Waresix | $100M | Series B
7 ▲11 Horizontal B2B Marketplaces $66.4M 4 GudangAda | $25.4M | Series A
8 ▲2 Online Beauty Retailer $58.0M 1 Sociolla | $58.0M | Series E
9 -- Agent Based Payments $53.0M 1 PAYFAZZ | $53.0M | Series B
10 -- Ecommerce Last Mile Delivery Services $50.0M 2 SiCepat | $50.0M | Series B

8. Indonesia Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks
Interesting Companies identified by Analysts in Indonesia Tech in December 2020
Indonesia Tech: Analyst Picks
8
Upgraded to MINICORN
Pintek (2018, Jakarta, Undisclosed, Seed)
Educational loan service provider
Accion, STRIVE, Finch Capital and 2 other Investors
Added to Editor's Pick
MindStores (2015, Kebon Jeruk, Unfunded)
Provider of an AR/VR-based virtual store network
platform
Added to Editor's Pick
Biznet Gio (2014, Jakarta, Unfunded)
Integrated cloud infrastructure services provider
Added to Editor's Pick
PandaCredit (2017, Jakarta, Unfunded)
Lending-as-a-service platform for lenders & financial
institutions
Alibaba Entrepreneurs Fundand

9. Indonesia Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions
List of Acquisitions in Indonesia Tech in December 2020
Indonesia Tech: Acquisitions
9
Acq. Date Company Acquirer Deal Size
16 Dec 2020
Trukita(2015, Jakarta)
Online booking platform for road freight transportation
Waresix

10. Indonesia Tech - December 2020 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Indonesia Tech in December 2020
Indonesia Tech:News
10
Exit News
.
● Thiel-Backed Bridgetown SPAC Weighs Up to $10 Billion Tokopedia Deal
BloombergQuint
.
● Grab, Gojek drivers in Indonesia threaten nationwide protests over merger
talks Deal Street Asia
.
● SoftBank-backed Waresix acquires Indonesian logistics startup Trukita Tech in
Asia
.
● As SPACs target Tokopedia and Traveloka Tech in Asia
.
● Grab demands strong control by founder in Gojek merger KrASIA
.
● Grab reportedly 'well placed to acquire', sees progress to merge with Gojek
MARKETING-INTERACTIVE
.
● Tokopedia picks Morgan Stanley, Citi to manage debut listing Deal Street Asia
.
● Tokopedia is eyeing a dual IPO listing worth $1bn by next year TechPortal
.
Fund News
.
● BRI Ventures Closes Tech Fund US$21M from Malaysia’s Grab, Others The Insider
Stories

11. Indonesia Tech - December 2020 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 InMobi
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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