Singapore-based startup builder and venture capital firm Antler, plans to invest in 30 startups in Indonesia. According to Asia Antler co-founder and managing partner Jussi Salovara , Indonesia's rapidly expanding digital market provides an ideal environment for fostering innovation and entrepreneurship.

"We support startup founders to launch great companies," Jussi said on Friday (26/5). Jussi explained that Antler will provide funding to startups ranging from pre-seed to series C funding rounds.

Antler’s investment focus is not limited to vertical startups, despite recognizing their massive potential. In alignment with current global trends, Antler anticipates the emergence of numerous climate or environment-based startups (climate tech). Furthermore, Jussi also believes there are still many promising startups in the logistic sectors.

Antler’s investment strategy

It is worth noting that in 2023, Antler launched a US$15 million funding scheme to support 70-80 early-stage startups in Southeast Asia. The company plans to provide around US$100,000 to US$125,000 in pre-seed to series C funding per startup and aims for a ten-percent stake in it.

Additionally, Antler will facilitate connections between startup founders and the appropriate teams to foster the development of robust business models. To date, the company has already funded 25 startups from various sectors, such as e-commerce, fintech, and ed tech, with a particular emphasis on supporting ventures founded and led by women.

Antler’s impressive portfolio

Some of Antler’s most notable portfolios are Cove, specializing in property rental and co-living ventures; Brick, a fintech firm; Staffing (formerly Sampingan), a job search platform; Base, engaged in the retail industry; and Ituloh!, a consumer-tech startup.

Now, Antler is not only strengthening its presence in established sectors like fintech, but also seeking out new and diverse startup opportunities to expand its reach.

In 2022, Antler received 2,910 investment offers from undisclosed startup founders in Indonesia, surpassing the previous year’s count og 2,500 proposals. After Antler announced a new funding scheme, the number of proposals will surely increase, especially for early-stage startups.

In the same period, a notable 9,000 startups in Southeast Asia sought capital infusion, yet Antler only funded merely 72 e-commerce, fintech, and logistics startups in Singapore, Indonesia, and Vietnam.