Antler Will Invest in 30 Indonesian Startups This Year

Startup builders as well as an early-stage VC, Antler expressed his commitment to increasing investment in Indonesia by up to 30 companies this year. As for since his presence in Indonesia in 2021, based on data on their website they have funded 25 startups, the majority are from e-commerce, fintech, and edutech, and interestingly a quarter of these startups are led by female founders.

The following is a portfolio of Indonesian startups that have been funded by Antler, quoting from the Antler website:

The site also describes funding for startups that have businesses in Indonesia, but are registered at Antler Singapore. Some of the names are Base (retail), Brig (fintech), Cove (proptech), side (rebranded so Staffinc), and That's it! (consumer-tech).

Furthermore, in Antler's global annual report entitled "A Window into Progress", it was revealed that Antler had received more than 2.910 startup founders who submitted applications in 2022. This figure jumped to more than 2.500 applications in 2021. This number reflects Indonesia as a growing digital market. fast and a breeding ground for innovation and entrepreneurship.

"As investors who support the world's most passionate startup founders from day one to success, we support startup founders to launch and scale the next generation of great companies to tackle some of the most pressing problems of our time. In doing so, we advance society and make inevitable progress," said Antler Asia Co-founder and Managing Partner Jussi Salovaara in an official statement, Wednesday (24/5).

In regional coverage, Antler received more than 9 thousand applications submitted by para founder to the founders program. This figure is up from the previous 7 thousand applications in 2021. According to Salovaara, this growth reflects Southeast Asia as a the digital market rapid growth and opportunities for innovation, while positioning Antler as the destination of choice for para founder to launch their startup.

From this application, Antler funded 72 companies, starting from e-commerce, Saas, fintech, and logistics, spread across Singapore, Indonesia and Vietnam. The startup will gain a competitive advantage to expand in the region and beyond, leveraging Antler's global presence in 25 cities around the world.

As a global platform for scale and capital, Antler has unlocked access to subsequent fundraising rounds by tier-one VC firms such as Sequoia, Target Global, Golden Gate Ventures, Y Combinator, 500 Global, East Ventures and others. As a result, Antler's founders went on to raise more than $400 million after co-founding their startup with Antler.

In its incubation program, Antler divides it into two phases. Phase 1 is dedicated to discovery co-founder, validate ideas, and develop businesses. Phase 2 is the acceleration path, para founder will use Antler's funding to execute on the idea, onboard customers, and gain traction to eventually raise a seed round.

Throughout the six-month program, Antler offers office space, personal mentors, presentations with external speakers, and connections to a global network of mentors. If in Phase 2 the startup obtains funding from Antler, they will get funding starting at $125 thousand for a 10% stake in the company.

If the startup's development continues to grow rapidly, Antler also opens the option to continue supporting it until the series C round. The newest cohort for Indonesia will soon open in early June 2023.