Karyakarsa Receives Initial Funding of 7 Billion Rupiah from Accelerating Asia, Sketchnote Partners, and Several Angel Investors

Karyakarsa's creator appreciation market has raised an initial round of funding of $498.000 or IDR7 billion from Accelerating Asia, Sketchnote Partners, and well-known angel investors. The company will use the funds to develop new features and explore regional markets.

According to the Co-Founder and CEO of Karyakarsa, Ario End, the platform has served more than 35.000 creators, ranging from journalists, models, illustrators, 3D artists, and many more. Karyakarsa also has more than 275.000 registered users as fans/supporters.

Like Patreon and Tribe, Karyakarsa allows creators to monetize their work by building a fan base. They can sell their creations and get support directly through the platform. Creators will get 90% of revenue, while 10% will be deducted from platform fees.

Karyakarsa was founded by Ario Tamat and Aria Rajasa Masna in 2019.

“In October alone the number of transactions through the KaryaKarsa platform has increased by 60% month-on-month and we have increased the number of new creators on the platform by 135%. The new funding will allow us to expand our offerings and empower more content creators to develop sustainable livelihoods. We are grateful for the trust our partners place in our vision,” said Ario.

NFT Initiative

New creator monetization models are constantly being explored, including with Non-Fungible Tokens (NFT). Karyakarsa has partnered with crypto-marketplace Tokocrypto to enable creators to sell their work through the NFT Marketplace, TokoMall. Similar initiatives are gaining popularity in the global market.

Several adjustments were made, for example locking the price of NFT with Rupiah to avoid high fluctuations. Some NFTs can also be claimed with physical products.

This bodes well for the ecosystem of Indonesian creators to monetize their (digital) works. Some of the creators at Karyakarsa can earn IDR 30-50 million per month.

-Original article in English, translated by Kristin Siagian