Continuing our Tech Deals series, we present the latest tech deals completed between 1 May and 31 August 2023, along with our commentary on the same. In this Indonesia Tech Deals Vol. 8 edition, we highlight the promising investments in e-commerce and the emerging electric vehicle (EV) market, especially in the two-wheeled EV segment. While the continuing “funding winter” has been influenced by corporate efficiency measures, we are optimistic that it may ease, as the macroeconomic crisis reaches its peak in the last quarter of 2023. This suggests that investments in tech sectors will remain active in the coming years.
You can access the previous Tech Deals here: Vol. 1 , Vol. 2 , Vol. 3 , Vol. 4 , Vol. 5 , Vol. 6 , and Vol. 7
I. Start Up and Tech Investment Deals in the period between 1 May and 31 August 2023
Please refer to the table below on the list of Tech Deals completed during the period from 1 May to 31 August 2023:
| No | Company Name | Sector | Stage | Investor(s) | Funding Date |
| 1 | Coldspace | Supply chain solution | Seed | ITS, Intudo Ventures, MKA, PT Adi Sarana Armada Tbk (ASSA, ASSA Rent), Triputra Group | 3 May |
| 2 | Kecilin | Software-as-a-service (Saas) / Enterprise solution | Pre-series A | Arkana Ventures, Mandiri Capital Indonesia (MCI), Provident Growth Fund | 3 May |
| 3 | Praktis (Pts.sc) | Supply chain solution | Series A | East Ventures, SMDV, Triputra Group | 4 May |
| 4 | Mimin | E-commerce enabler | Seed | Otto Digital | 5 May |
| 5 | UENA | Food and beverage | Bridge | East Ventures, Trihill Capital | 8 May |
| 6 | AYO Indonesia | Sports application | Seed | Alpha Momentum | 15 May |
| 7 | Looyal | Software-as-a-service (Saas) / Enterprise solution | Bridge | AsiaPay Capital | 16 May |
| 8 | Quipster | Equipment and material marketplace | Pre-series A | Chailease Holding | 17 May |
| 9 | eFishery | Agritech – Aquaculture | Series D |
42XFund, Northstar Group, SoftBank Vision Fund |
24 May |
| 10 | Skorlife | Fintech | Seed |
AC Ventures, Hummingbird Ventures, QED Investors, Saison Capital |
24 May |
| 11 | Jumpstart Coffee Indonesia | Food and beverage | Series B | Cool Japan Fund, Living Lab Ventures | 25 May |
| 12 | Evermos | E-commerce enabler | Series C |
Endeavor Catalyst, IFC Emerging Asia Fund, International Finance Corporation (IFC), Jungle Ventures, SWC Global, Shunwei Capital, Telkomsel Mitra Inovasi (TMI), UOB Venture Management, Uni President Asset Holdings |
25 May |
| 13 |
Grow Commerce (Berrybenka) |
E-commerce | Debt | Null | 26-May |
| 14 | Ringkas | Fintech | Seed |
500 Global, Crestone Venture 16Capital, East Ventures, Hustle Fund, Orvel Ventures, Teja Ventures |
31-May |
| 15 | SIRCLO | E-commerce enabler | Series C | Vertex Ventures SEA & India | 13-Jun |
| 16 | Finfra | Fintech | Early Stage |
Fintech Nation, DS/X Ventures, Seedstars International Ventures, Cento Ventures (Digital Media Partners (DMP)), Hustle Fund, FirstPick, BADideas Fund |
14-Jun |
| 17 | Amartha | Fintech | Strategic Investment | Community Investment Management (CIM) | 15-Jun |
| 18 | Ekrut | HR tech – job seeking marketplace | M&A | GetLinks | 16-Jun |
| 19 | Claude | E-commerce | Seed |
Prima Fund I, CyberAgent Capital (CyberAgent Ventures) |
16-Jun |
| 20 | Slice Group | Influencer marketing | Seed | Arise, Intudo Ventures | 21-Jun |
| 21 | TransTRACK | Hardware / Internet of Things | Pre-series A |
Damson Capital, NP Consulting, Ortus Star, Goldbell Group, YCAB, Ventures, Cocoon Capital |
23-Jun |
| 22 | Baskit | E-commerce enabler | Seed | DS/X Ventures, Forge Ventures, Orvel Ventures, Betatron Venture Group, Investible, 1982 Ventures |
27-Jun |
| 23 | eFishery | Agritech – Aquaculture | Series D | ADQ | 28-Jun |
| 24 | eFishery | Agritech – Aquaculture | Series D |
500 Southeast Asia, Kumpulan Wang Persaraan (Diperbadankan) |
3-Jul |
| 25 | Diary Bunda | Healthtech | M&A | Alodokter | 5-Jul |
| 26 | Eratani | Agritech | Seed |
SBI Ven Capital, Orvel Ventures, Ascend Angels, Genting Ventures |
10-Jul |
| 27 | KarirLab | HR tech – job seeking marketplace | Bridge | Alpha JWC Ventures, M Ventures | 11-Jul |
| 28 | Orderfaz | E-commerce enabler | Bridge | 1982 Ventures | 13-Jul |
| 29 | Jagofon | E-commerce | Seed | Null |