[Interactive Data] Indonesian Startup Funding During the First Half of 2021

There are various variables that can be used to measure the success of the startup ecosystem in a country. One of them is related to the investment round that occurs in it. Not just a transactional activity, behind startup funding there is a very detailed validation process assessing the feasibility and projected growth of startups in the future.

Throughout the second quarter (Q2) of 2021, we recorded that there were 49 transactions publicly announced funding – either directly through media releases or regulator records.

Two of them involve unicorn, i.e. additional rounds F series Gojek from Telkomsel valued at $300 million and Bukalapak's series G funding, which is valued at $400 million.

During that period, 12 startups posted funding of over $20 million. The highest is gain debt funding Kredivo worth $100 million. For information, in contrast to equity-based funding, debt funding is a debt financing mechanism for fintech to be distributed to their customers. This funding mostly involves financial institutions, including banks, but also does not rule out the possibility of venture capitalists to get involved.

Meanwhile, for equity funding, highest score achieved by Halodoc in an $80 million Series C round. Followed by Tanihub worth $ 65,5 million, Seeds $ 65 million, and Shipper $ 63 million. These fantastic investment-winning startups come from various business verticals, including agriculture, finance, education, to... social commerce. This variant is also an interesting trend for potential growth in various digital lines or business models.

This achievement in Q2 increases the achievement of startup investment gains throughout H1 2021. Combined with the previous quarter [outside unicorn], a total of 87 funding transactions. Of the 46 funding transactions whose value was announced to the public, the total value recorded was approximately $1,3 billion. Here's the complete list of funding:

Growth from year to year

When compared to the previous two years, for the same period, the quantity and nominal of startup funding in 2021 increased quite rapidly. During H1 2019 there were 50 funding transactions with a total stated value of $241 million; while in 2020 there were 52 transactions with a value of $345 million.

An interesting trend that was also noted was funding at the later stages [Series B and above] increased in quantity throughout 2021. In that period, there were 13 series B funding and 4 series C funding. In the same period the previous year the number never exceeded 3 transactions.

However, when viewed in terms of business vertical coverage, the variants are still relatively the same. fintech, SaaS, and EdTech become the category most sought after by investors in the last three years. While based on funding announcements stating the value, the largest percentage is still achieved fintech (33,5%), continued logistics (18,15) new retail (8,2%), and SaaS (8%).

Angel investors more and more involved

Another interesting finding, throughout Q2 2021, angel investors involved in 13 startup funding – in some startups more than one is involved. Even famous names from among founder Indonesia is starting to emerge, for example Aldi Haryopratomo who was involved in funding the series A of BukuWarung.

If before angel investors more involved in pre seed for early stage startups, now the scope is starting to expand. For ecosystems, of course this is a good indication because of the transition phase from founder startups become investors, to support generations founder next.

Then for the latest investor statistics, from venture capitalists, East Ventures is still firmly in the top ranking with the highest number of funding transactions.

Refer to Startup Report 2020, East Ventures has always had the highest quantity of investment over the past few years.

With the trend occurring in 2021, it feels like this fact is a turning point after the national economy was hit by turmoil at the beginning of the pandemic. The startup ecosystem is also getting more solid, because apart from increasing investor confidence, several stunning corporate actions are also being prepared by Indonesian startup celebrities, in relation to consolidation and plans to go public on the stock exchange.

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