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1. TRACXN MONTHLY REPORT
OCTOBER 2021
INDONESIA TECH

2. Indonesia Tech - October 2021 Copyright © 2021, Tracxn Technologies 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 9
New Analyst Picks 10
Acquisitions 12
Recent News 13

3. Indonesia Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Indonesia Tech Snapshot – October 2021
Indonesia Tech: Snapshot – October 2021
Note : "Investors" refers to "Institutional Investors" only
3
$289M
6
Overall Geo Stats
14
2
42
9
11
Funding Rounds $ Invested Analyst Picks
Ajaib Upgraded to
UNICORN
New Investors
Vulcan
Great Giant Foods
Series A+ rounds Active Investors IPOs Acquisitions
OVO
Bank Neo Commerce
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Jakarta
(9 Rounds, $128M)
West Jakarta
(1 Rounds, $153M)
Tangerang
(1 Rounds, $7.6M)
$153M - Series B
Ajaib (2018, West Jakarta, $245M)
$87M - Series B
Ula (2019, Jakarta, $118M)
$17.5M - Series B
PrivyID (2016, Jakarta, $24.0M)
$10M - Series C
Investree (2015, Jakarta, $33.5M)
Beenext
(3 Investments)
ACVentures
(3 Investments)
Alpha JWC Ventures
(2 Investments)
MDI Ventures
(2 Investments)
Investment Tech
Ajaib
Online Grocery
Ula
B2B E-Commerce
GoCement
Legal Tech
PrivyID
Market Size
Companies Covered 6,258
Funded Companies 830
Total Funding $15.6B
Funding in last 12 months $3.4B
Top Exits
IPOs 10
Acquisitions 84
Company Stage
Unicorns 4
Soonicorns 28
Minicorns 76
Editor Picks 402
Series A+ 191
Series C+ 34
Acqui-Hires 7
Deadpooled 923
Top Cities
Jakarta (694 Rounds, $14.1B)
Bandung (33 Rounds, $61.2M)
Top Investors
East Ventures (92 Investments)
ACVentures (41 Investments)

4. Indonesia Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Indonesia Tech as of October 2021
Indonesia Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (October 2021)*
Ajaib
(2018, West Jakarta, $245M)
$153M - Series B DST Global
Ula
(2019, Jakarta, $118M)
$87.0M - Series B Tencent
PrivyID
(2016, Jakarta, $24.0M)
$17.5M - Series B GGV Capital
Investree
(2015, Jakarta, $33.5M)
$10.0M - Series C ResponsAbility
Crowde
(2015, Jakarta, $10.1M)
$9.0M - Series B Monk's Hill Ventures
ESB
(2015, Tangerang, $10.6M)
$7.6M - Series A Alpha JWC Ventures
majoo
(2019, Jakarta, $8.8M)
$4.0M - Seed ACVentures
TransTRACK.ID
(2019, Jakarta, $1.1M)
$552K - Seed Cocoon Capital
*Shows only the lead Investors

5. Indonesia Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (1/2)
List of Funding Rounds in Indonesia Tech in October 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
$10.0M - Series C
Investree (2015, Jakarta, $33.5M)
Online P2P lending platform for business loans
Accial Capital, ResponsAbility
EARLY STAGE
$7.6M - Series A
ESB (2015, Tangerang, $10.6M)
Provider of restaurant management solution for
businesses
Alpha JWC Ventures, Skystar Capital, ACVentures,
Beenext, Vulcan
EARLY STAGE
$9.0M - Series B
Crowde (2015, Jakarta, $10.1M)
Online platform connecting farmers and retail
investors
Monk's Hill Ventures, Great Giant Foods, Mandiri
Capital Indonesia
EARLY STAGE
$17.5M - Series B
PrivyID (2016, Jakarta, $24.0M)
Legally binding eSignature solutions providers
GGV Capital, Buana Sejahtera Group, TMI, Gunung
Sewu, Endeavor, and 2 more
EARLY STAGE
$87.0M - Series B
Ula (2019, Jakarta, $117.5M)
Online marketplace offering groceries
Tencent, B Capital Group, Prosus, Citius, Northstar
Group, and 6 more
EARLY STAGE
$153.0M - Series B
Ajaib (2018, West Jakarta, $245.2M)
Online investing platform for stocks and mutual funds
DST Global, IVP, SoftBank Ventures Asia, Iconiq Capital,
Insignia Ventures Partners, and 3 more
SEED STAGE
$551.6K - Seed
TransTRACK.ID (2019, Jakarta, $1.1M)
Provider of fleet telematics integration solution
Cocoon Capital,
SEED STAGE
$4.0M - Seed
majoo (2019, Jakarta, $8.8M)
Business management software provider for multiple
industries
ACVentures, Xendit, BRI Ventures
SEED STAGE
Seed
GoCement (2019, Jakarta)
Online marketplace for procuring and renting building
materials
Ideosource, , MDI Ventures, Beenext

6. Indonesia Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (2/2)
List of Funding Rounds in Indonesia Tech in October 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
Angel
Wholeselect (2020, Jakarta)
Provider of procurement management solution for
enterprises
Hangzhou Magic Chopsticks
SEED STAGE
Seed
Farmacare (2020, Jakarta)
Provider of pharmacy business management tool
Beenext, Taurus Ventures, iSeed

7. Indonesia Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Indonesia Tech in October 2021
Indonesia Tech: List of New Investors
7
Investor Company Info Round Amount Round Name
Vulcan
46 portfolio companies | Family office of Allen family
ESB
Provider of restaurant management solution for businesses
$7.60M Series A
Great Giant Foods
1 portfolio companies | Home - Great Giant Foods - Sustainable Farming
Development
Crowde
Online platform connecting farmers and retail investors
$9.00M Series B
Lightspeed India
8 portfolio companies | Private equity firm focused on acquisitions
Ula
Online marketplace offering groceries
$87.00M Series B
iSeed
11 portfolio companies | Micro venture capital fund focused on multiple sectors
Farmacare
Provider of pharmacy business management tool
Undisclosed Seed
SoftBank Ventures Asia
1 portfolio companies | Venture capital firm investing in early stage sectors
Ajaib
Online investing platform for stocks and mutual funds
$153M Series B
Citius
3 portfolio companies | Venture capital firm investing in tech startups
Ula
Online marketplace offering groceries
$87.00M Series B
Xendit
2 portfolio companies | Online payment and money transfer solution for
businesses
majoo
Business management software provider for multiple industries
$4.00M Seed
indonesianwomenempowermentfund.vdtrxn
2 portfolio companies | Limited information available
TransTRACK.ID
Provider of fleet telematics integration solution
$552K Seed
Accial Capital
8 portfolio companies | Debt fund focused on impact investing
Investree
Online P2P lending platform for business loans
$10.00M Series C
IVP
292 portfolio companies | Later stage tech-focused VC firm investing primarily in
the US
Ajaib
Online investing platform for stocks and mutual funds
$153M Series B

8. Indonesia Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Indonesia Tech in October 2021
Indonesia Tech: List of New Investors
8
Investor Company Info Round Amount Round Name
Bezos Expeditions
84 portfolio companies | Family office of Jeff Bezos
Ula
Online marketplace offering groceries
$87.00M Series B
Buana Sejahtera Group
1 portfolio companies | Private equity firm focused on multiple sectors
PrivyID
Legally binding eSignature solutions providers
$17.50M Series B
arisevc.co
2 portfolio companies | Home | Arise VC
GoCement
Online marketplace for procuring and renting building materials
Undisclosed Seed
Hangzhou Magic Chopsticks
1 portfolio companies | Limited information available
Wholeselect
Provider of procurement management solution for enterprises
Undisclosed Angel

9. Indonesia Tech - October 2021 Copyright © 2021, 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.
9
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲3 Multi Products Marketplaces $534M 3 Bukalapak | $234M | Series G
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 -- E-Commerce Last Mile Logistics $270M 2 SiCepat | $170M | Series B
6 -- Business Payments Solutions $215M 3 Xendit | $150M | Series C
7 -- Internet First Point of Sale Financing Marketplaces $125M 1 FinAccel | $125M | Series C
8 ▲3 B2B E-Commerce > Horizontal > Marketplace $107M 2 Ula | $87.0M | Series B
9 ▲8
B2B E-Commerce > Technology Enablers > E Commerce
Software Suite
$100M 1 GudangAda | $100M | Series B
10 -- Robo Advisor Investment Platforms $95.0M 2 Bibit | $65.0M | Series B

10. Indonesia Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Indonesia Tech in October 2021
Indonesia Tech: Analyst Picks
10
Upgraded to UNICORN
Ajaib (2018, West Jakarta, $65.0M, Series A)
Online investing platform for stocks and mutual funds
DST Global, Iconiq Capital, Bangkok Bank and 12 other
Investors
Upgraded to MINICORN
ESB (2015, Tangerang, $7.6M, Series A)
Provider of restaurant management solution for
businesses
Skystar Capital, Alpha JWC Ventures, ACVentures and 3
other Investors
Added to Editor's Pick
Rapid Rabbits (2017, Washington, DC, $830K, Seed)
On-demand last-mile logistics service provider
Yang Bin Kwok, Royston Tay, Surge and 5 other
Investors
Added to Editor's Pick
KrediFazz (2020, Jakarta, Unfunded)
Online platform for personal loans
Added to Editor's Pick
VIDA (2018, Jakarta, Undisclosed, Seed)
Provider of secure identity management and
authentication solutions provider
Alto Partners, Alpha JWC Ventures, Monk's Hill
Ventures and 1 other Investors
Added to Editor's Pick
Pasarnow (2019, Jakarta, $3.3M, Seed)
Online platform offering multi-category grocery
products
Skystar Capital, Amand Ventures, East Ventures and 1
other Investors

11. Indonesia Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Indonesia Tech in October 2021
Indonesia Tech: Analyst Picks
11
Added to Editor's Pick
Skill Academy (2019, Jakarta, Unfunded)
Mobile-based platform providing multi-disciplinary
learning solutions
Added to Editor's Pick
TransTRACK.ID (2019, Jakarta, $570K, Seed)
Provider of fleet telematics integration solution
, Accelerating Asia, YCAB Ventures and 2 other
Investors
Added to Editor's Pick
Clickargo (2019, Jakarta, Unfunded)
Offers tech-enabled freight forwarding service
platform

12. Indonesia Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in Indonesia Tech in October 2021
Indonesia Tech: Acquisitions
12
Acq. Date Company Acquirer Deal Size
07 Oct 2021
OVO(2015, Jakarta)
Mobile-based payment application for consumers
Grab
12 Oct 2021
Bank Neo Commerce(2020, Jakarta)
Digital bank for individuals and businesses
Akulaku

13. Indonesia Tech - October 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Indonesia Tech in October 2021
Indonesia Tech:News
13
Exit News
.
● Grab buys Tokopedia’s, Lippo’s shares in OVO Pulse

14. Indonesia Tech - October 2021 Copyright © 2021, 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
14
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 Ajaib
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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