Imajin Gets Pre-Early Stage Funding from Init-6

Startups manufacturing hubimagination get funding pre seed or a pre-start of Init-6 with an undisclosed amount. This funding will be used to accelerate digitization in the manufacturing industry through market expansion and new product development.

Contacted by DailySocial.id, Co-founder & CEO imagination Chendy Jaya revealed that currently Init-6 is still the sole investor in its initial funding stage. However, the Global Fund is also in the process of participating in this funding.

In Indonesia, Imagin will expand to a number of cities in Java and Batam. In addition, Imagin is also considering strongly to expand to Japan. Based on the results of his visit to Japan, he claimed to have received positive responses from companies there.

"It seems that we need representatives there so that [candidates] customer] can onboard in Imagin," he added.

Imagin is a startup platform provider that brings together demand and supply in the manufacturing industry. By positioning yourself as manufacturing hub, Imajin offers three business models, namely (1) a platform to bring together business actors in the manufacturing industry, (2) project financing (project financing), and (3) marketplace to supply raw material.

Throughout the first semester of 2022, he continued, Imajin has pocketed an Annual Recurring Revenue (ARR) contract of almost ten times growth compared to two years ago. The company also just started its expansion in East Java, and released an AI-based Quick Note feature to detect 3D files and determine the price range of goods instantly.

On his LinkedIn page, Init-6 Venture Partner Rexi Christopher believes that Imajin will have a significant role to play in revolutionizing the manufacturing industry in Indonesia. Moreover, 20% of Indonesia's total GDP is projected to come from manufacturing. Its growth is also predicted to be faster thanks to the adoption of new technologies.

In addition, he considers Imagin to be supported by founders who have know-how in this sector. "We believe that Imagin can accelerate digitization in manufacturing so as to make its industry in Indonesia more competitive in the global market," he said.

For your information, init-6 Founded by Bukalapak Co-founders Achmad Zaky and Nugroho Herucahyono with a focus on investing in early-stage startups. Finally Init 6 provides funding to the platform EdTech "Guided".

Manufacturing digitization

Delivered in a separate official statement, Imajin works closely with Brand Holder Sole Agents (ATPM) in the automotive and other sectors and collaborates with the Ministry of Industry to accelerate the digitization of manufacturing in the country.

In his efforts to enter the Japanese market, Chendy said that the automotive industry in Indonesia is very potential. Especially at this time some high technology for automotive products, such as servo brake, gear boxand drive axles, still imported from Japan. According to a report by the Indonesian Embassy in Tokyo with Mizuho Bank, the import value reached $1 billion.

Meanwhile, the Indonesian government is aggressively pushing for domestic digitalization in order to meet the regulation of the Domestic Content Level (TKDN) of at least 35% and increasing to 80% in 2026, especially in electric vehicles.

"We found a classic problem that often occurs in the manufacturing sector, which is finding trusted vendors manually. We want to digitize the procurement process to production so that the Indonesian market can compete with other countries," he said.

Currently, Imagin has more than 400 local manufacturing partners and 80 customers including Japanese companies in Indonesia. Imajin strives to meet the needs of a number of customers from leading companies, such as Tom's Racing, Toyota Motor Corporation, Mitsubishi Motor Corporation, so that they meet product standards owned in Japan.