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Indonesia Weekly Review: 7 Archipelago Startup Stories You Don’t Want To Miss This Week [12 June -17 June]

Indonesia Weekly Review: 7 Archipelago Startup Stories You Don’t Want To Miss This Week [12 June -17 June]

The Latest News From Indonesia's Startup Ecosystem

From mergers & acquisitions, to fundings and contests, the latest of Indonesia’s startup news, delivered at your doorstep.

Bibli Acquires Online Travel Agency Tiket

Indonesia-based ecommerce platform Bibli has acquired the online travel travel agency Tiket. The amount of the deal was not disclosed.

Post the acquisition, George Hendrata will serve as the new CEO of

Tiket will continue to operate independently through its own brand. Bibli will assist the latter with inventory management, sales programmes.

Tiket was founded in 2011 by Natali Ardianto, Wenas Agusetiawan, Dimas Surya Yaputra, and Mikhael Gaery Undarsa. It is an online travel agency (OTA).

Gaming Startup Arsanesia Raises Funding

Indonesia-based gaming startup Arsanesia has secured an undisclosed amount of funding from Discovery Nusantara Capital (DNC).

Arsanesia plans to use the freshly raised funds to strengthen its gaming line Arsa Kids, that develops educational games for children.

Arsanesia was founded in 2011 by Adam Ardisasmita. It works predominantly in the mobile gaming sector. Its most famous games include Arsa Kids and Roly Poly Penguin.

SaaS Platform Kofera Secures Pre Series A Funding

SaaS-driven digital marketing automation platform Kofera has raised an undisclosed amount in Pre-Series A funding, in a round led by MDI Ventures.

The round also saw participation from Indosterling Capital, Discovery Nusantara Capital, and Gunung Sewu.

The startup will raise the funds product development and customer acquisition.

The startup was founded in 2015 by Bachtiar Rifai, Gayuh Tri Satria, Ryan Haryadi, and Ferry Ardhana Wahyu Hutama. Kofera is a platform that allows advertisers to run customised ad campaigns. The platform uses big data analytics, machine learning, and AI to make digital marketing campaigns more effective.

PrivyID Raises Funding From Mandiri Capital

PrivyID, the digital signature startup has secured an undisclosed amount in its Pre-Series A round of funding led by Mandiri Capital Indonesia (MCI).

The round also saw participation from VC firm MDI Ventures, Gunung Sewu Group, and Mahanusa Capital.

The startup aims to deploy the funds towards product development and further strengthen its infrastructure and team.

PrivyID was founded in 2016 by Marshall Pribadi. It enables users and enterprises to digitally sign and transfer documents online with an integrated audit trail.

Startup Weekend Bali Announces Top Three Winners

Organised by Hubud, Startup Weekend Bali took place from June 9-June 11, 2017.  NomaStay emerged as the winner of the competition, with Hubs and Finger Farm securing second and third position, respectively.

The three-day-long startup marathon brought together entrepreneurs, programmers, coders, designers, and other professionals.

As per an official statement, the event saw a total of 76 participants, from around 25 countries.

Intudo Ventures Closes $10 Mn Indonesia Focussed Fund

Recently launched VC firm Intudo Ventures has announced the close of $10 Mn Indonesia focussed fund.

The VC firm, founded by global investors Eddy Chan, Patrick Yip, and Timothy Chen will be leading Seed and Series A rounds with a target ownership of 15% to 25% on a fully-diluted basis, in the archipelago.

The average ticket size for investment would be between $200K and $1.25 Mn, with additional capital to participate in follow-on financings, as per a report by DealStreetAsia.

Edtech Startup Ruangguru Secures Series B Funding

Indonesian edtech startup Ruangguru recently announced that it closed Series B round of funding.

As per a report by DealStreetAsia, the amount of funding is somewhere around $7Mn-$8 Mn.

Earlier in May 2017, the startup announced new round of funding from GSMA Ecosystem Accelerator Innovation Fund, a startup fund operated by global mobile operator trade body GSMA.

Launched in 2014, the website claims to be the largest online marketplace for private tutoring in Indonesia. It previously secured an undisclosed amount in its Series A round of funding from Venturra Capital in December 2015.