Otoklix Pockets Series A Funding Worth 143,5 Billion Rupiah

After receiving initial funding worth $2 million or equivalent to 28 billion Rupiah at the end of 2020, a solution platform online-to-offline which digitizes industry aftermarket automotive industry in Indonesia "Otoklix" again received series A funding worth $10 million or equivalent to 143,5 billion Rupiah.

This round was led by Alpha JWC Ventures and AC Ventures. Also participating were previous investors, namely Surge (Sequoia Capital India), Ex-CEO of Astra International Prijono Sugiarto, Co-founder of YouTube and Google Executives at XA Network Steve Chen.

This fresh fund will be used by the company to improve technology touch point by managing the workshop flagship with the concept of O2O throughout Indonesia.

To DailySocial.id, Otoklix Co-founder & CEO Martin Suryohusodo said that his party is trying to build an automotive ecosystem, not just a platform. Therefore, an O2O Managed Flagship Workshop is needed which Otoklix can provide as a guarantee customer experience.

"After we build the ecosystem flagship workshops with customer experience what we hope for, it is the beginning of the beginning before we use the ecosystem for expansion to adjacent market other. In every business, whoever owns the ecosystem becomes market champion. That is why Indomaret until this moment cannot be replaced," said Martin.

In the past year, Otoklix claims to have grown from 100 to more than 1.900 partner workshops, providing services to more than 100.000 customers annually.

"Through the app all-in-one and integrated ecosystem of manufacturers, distributors, retailers, and workshops, Otoklix provides answers to the challenges faced by customers and workshops at the same time. We are excited to join the Otoklix team to build the best company and product for the market,” said Jeffrey Joe, Co-founder & General Partner of Alpha JWC Ventures.

Business growth during the pandemic

Founded in 2019, Otoklix bridges the gap between automotive vehicle owners and Indonesia's fragmented independent auto repair sector. They are trying to change the vehicle maintenance experience for consumers and equip workshops with business software solutions and procurement savings. With the business growth that has been achieved, Otoklix has the potential to become the largest after-sales service network in Indonesia.

During the pandemic the automotive industry was one of the most affected markets. With decreased mobility, which resulted in many workshop closures during PPKM.

"But now, we have not only recovered business growth, we have grown even more. Our revenue has increased by 5x in November 2021 compared to November 2020," said Martin.

He added that, seeing the rapid recovery of the automotive industry, Otoklix wants to ensure that it grows even faster. But focus on strengthening the core. So in the 1st and 2nd quarter of 2022 the company will focus on becoming top of mind when servicing the car. This will be Otoklix's strategy playbook for penetration into other markets outside Jabodetabek.

"In 2022, we will evolve from a platform to a platform consumer brands. In 2022, we will establish Otoklix flagship workshop, launch private label products, seamless experience using technology for all consumers in all major cities on the island of Java," said Martin.