AMODA Raises Seed Funding Led by East Ventures and Living Lab Ventures

Property and construction startup AMODA raised seed funding of an undisclosed amount, led by East Ventures and Living Lab Ventures. Previously, AMODA got pre-start funding in July 2022 which is also led by East Ventures.

"This initial funding round encourages us to revolutionize the property and construction landscape in Indonesia. We are confident that we can create innovative, adaptable and environmentally friendly building spaces to empower businesses and individuals," said AMODA Co-Founder & CEO Robin Yovianto in a statement officially.

AMODA was founded in October 2021 by Robin Yovianto and Agusti Salman Farizi (Co-Founder and President) with a vision to revolutionize the property and construction industry in Indonesia.

Since its founding, the company claims to have achieved 4x revenue growth from year to year. AMODA has expanded the scope of its operations with a total portfolio of more than 200 construction assets, 50 national contractor partners, and established relationships with more than 30 landowners.

"This investment reflects our confidence in their vision to transform and redefine the property and construction sector in Indonesia. We have witnessed AMODA's extraordinary growth, and we are confident that AMODA's innovative solutions will improve the quality of efficiency, effectiveness and sustainability in the construction sector," said East Ventures Partner Melisa Irene.

AMODA Solutions is also said to have strengthened long-term partnerships with more than 60 companies. Meanwhile, this funding will be allocated to improve product, technology and operational capabilities.

Challenge

AMODA revealed that the property and construction industry is faced with conventional methods which cause low productivity compared to other sectors. The lack of transparency and predictability in the construction process results in inefficiencies in most projects. Wasted resources and a large carbon footprint are also challenges.

AMODA develops innovations that can transform and overcome issues in traditional construction processes. The company provides a dashboard to allow clients to track work end-to-end, from both pricing, construction and rental aspects. Apart from that, AMODA also now uses materials that can contribute to reducing carbon emissions and environmentally friendly construction processes.

The solution also allows clients to have the freedom and experiment to change locations, especially in the early stages of starting their business. This strategy is believed to have a significant impact on clients in mitigating risk.

East Ventures investment in proptech

As a venture capitalist with a mandate in the agostic sector, East Ventures has the flexibility to invest in various industry verticals. In proptech itself, East Ventures' seriousness became increasingly visible when in 2022 it was involved in establishing it Urban Gateway Fund together with Sinar Mas Land, Redbadge Pacific, and Prasetia Dwidharma. The focus is investing in early stage startups engaged in urban planning development.

Apart from AMODA, East Ventures also invested in my tan, a startup that builds a technology platform to facilitate online property purchases and transactions online. Then also provide initial funding to Cabin, developer of a platform for simplifying the construction process by utilizing modularity, pre-fabrication and the main material of wood. concise also received capital support from East Ventures to provide digital services to facilitate residential credit (KPR).