Hear from nine founders on the rapidly-evolving tech startup growth story in SE Asia’s top market at the fourth edition of the Indonesia PE-VC Summit in Jakarta on January 12, 2023.
Our nine speakers represent diverse digital economy spaces such as consumer, brands, social commerce, new energy vehicles, and new retail, among others. Gain operational expertise and insights into these compelling themes playing out in Indonesia.
Meet Marsela Limesa, a former Grab and Sequoia investment executive, who is the co-founder and president of the Indonesian beauty company Somethinc. Started as BeautyHaul in 2014, the e-commerce site works with local and international beauty brands. The firm launched its first beauty brand, Somethinc, in 2019, which quickly rose to fame among local consumers due to its quality ingredients at affordable prices. Indonesian beauty company Somethinc-BeautyHaul is backed by Sequoia Capital India and Prosus Ventures. Hear from her to know more about the growing demand for local beauty brands in the backdrop of a boom in online shopping and social media consumption.
We will also feature Irwan Tjahaja, founder and CEO of Swap Energi, a startup that offers battery-swapping solutions for electric vehicles. In 2021, Swap launched its electric motorcycle brand called Smoot. Tjahaja is a seasoned entrepreneur with 15+ experience in the battery production business. Swap Energi, which raised its pre-Series A found in March, aims to solve the battery life problem – a key pain point for EV users – by building the infrastructure for two-wheeled EVs. “Millions of Indonesians depend on motorbikes for their daily activities. The biggest anxiety for EVs is the mileage capacity which relies on battery life,” CEO Irwan Tjahaja feels. We will quiz him about the challenges to EV adoption in Indonesia and the road ahead.
Hear from Evermos co-founder and CEO Ghufron Mustaqim on the growing social commerce space. Mustaqim co-founded Evermos, a Sharia-compliant e-commerce platform that connects brands, resellers, and consumers. Prior to Evermos, Mustaqim served as vice president at Indonesian fashion e-commerce startup Sorabel.
In September 2021, Evermos raised $30 million in its Series B funding. The startup is backed by UOB Venture Management, IFC, Jungle Ventures, and Shunwei Capital among others. Home to more than 200 million Muslims, Indonesia is one of the world’s major markets for halal products. We will ask the Evermos co-founder about the firm’s plans to grow beyond top-tier cities in the archipelago.
Our next entrepreneur Dayu Dara Permata co-founded the Indonesian property platform Pinhome, which recently raised $50 million in its Series B round from Goodwater Capital, Intudo Ventures, Ribbit Capital and others. Pinhome, founded in 2019 by former Gojek executives Dayu Dara Permata and Ahmed Aljunied, connects potential buyers and renters with property owners and agents, making the process of buying, selling, and renting property easier. As senior vice president at Gojek and head of the lifestyle and commerce product group, Dayu Dara was responsible for Gojek’s expansion across Indonesia. She co-founded new businesses in Gojek from ideation, validation, and pilot, to scaling up and expansion. We will quiz her about how the property platform is looking to capture values across the homebuying/renting journey.
Hear from Purbaja Pantja, director & chief investment officer, Indika Energy [Alva One] on the firm’s vision to become an electric mobility champion and reshape sustainability. Prior to his current role at Indonesia-listed Indika Energy, Pantja held several leadership roles in a number of private equity and investment banking institutions in Singapore and Indonesia. In May, Indika Energy teamed up with the Indonesia-focused VC firm Alpha JWC and Horizons Ventures to establish a joint venture called Ilectra Motor Group (IMG). The JV launched its first motorcycle brand called Alva One in August. IMG was founded not only to build a two-wheeler brand, but also its supporting ecosystem including EV infrastructure. We will know more about what it takes to build a green mobility solution.
Meet Edward Tirtanata, co-founder and CEO of the Indonesian grab-and-go coffee chain Kopi Kenangan. Established in 2017, Kopi Kenangan entered the unicorn club last year after it raised $96 million in Series C funding from investors including Tybourne Capital Management, Falcon Edge (now Alpha Wave Global), and B Capital Group. The company is also backed by Sequoia Capital India, Alpha JWC, and Horizons Ventures. Kopi Kenangan currently has 850 stores in 64 cities in Indonesia. Co-founder Edward Tirtanata realised the importance of online delivery, affordability and technology in the F&B business back in 2015 when he started Lewis & Carroll tea, one of the largest premium tea house chains in Indonesia. That experience triggered him to start Kopi Kenangan. We will hear more about his journey of making Kopi Kenangan one of the largest coffee chains in Indonesia.
We will also have another entrepreneur perspective from eFishery founder and CEO Gibran Huzaifah. As a fish farmer-turned-agriculture tech entrepreneur, the eFishery founder is revolutionising the relatively untapped $9.4-billion Indonesian aquaculture market. eFishery provides end-to-end solutions for fish and shrimp farmers in Indonesia from smart farming technology, input, and access to financing, to the B2B market. In January 2022, eFishery raised $90 million in its Series C round co-led by Singapore state investor Temasek, SoftBank Vision Fund 2 and Sequoia Capital India. We will hear more from Gibran Huzaifah on what it takes to disintermediate one of the most traditional sectors through technology.
Hear from Social Bella Indonesia co-founder and President Christopher Madiam on his growth journey of building the startup into a leading integrated beauty technology company. Christopher also holds significant leadership roles across product and functional teams in the organization as the COO. Social Bella, known for its omnichannel commerce site Sociolla, recently raised over $60 million in a funding round led by Singapore state investor Temasek Holdings and L Catterton. Social Bella has so far raised more than $226 million since 2018. We will quiz Christopher about Sociolla’s expanding geographic footprint despite adverse macro conditions.
We also feature Achmad Alkatiri, the founder and CEO of Indonesia brand aggregator Hypefast. Prior to establishing Hypefast in 2020, Alkatiri held senior roles in a number of tech companies including chief growth officer at fintech firm AyoConnect, chief marketing officer at Lazada, and marketing lead at Shopee. Hypefast acquires and grows brands across SE Asia. The startup is backed by Monk’s Hill Ventures, Jungle Ventures, Strive, and others. Achmad Alkatiri will share perspectives on building and scaling up digital native fashion, beauty, health and lifestyle brands across Indonesia, Singapore, Malaysia and Thailand.