Tuesday, November 5, 2024

Singapore’s Antler targets Indonesia, planning investment in 30 startups

Reading Time: 2 minutes
Audina Nur

Journalist

Mahinda Arkyasa

Editor

Interview

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.

Audina Nur

Journalist

Mahinda Arkyasa

Editor

 

Interview

SUBSCRIBE NOW
We will provide you with an invoice for your reimbursable expenses.

Free

New to Indonesian market? Read our free articles before subscribing to the premium plan. If you already run your business in Indonesia, make sure to subscribe to the premium subscription so you won’t miss any intelligence & business opportunities.

Premium

$550 USD/Year

or

$45 USD/Month

Cancelation: you can cancel your subscription at any time, by sending us an email inquiry@ibp-media.com

Add keywords to your market watch and receive notification:
Schedule a free consultation with us:

We’ll contact you for confirmation.

FURTHER READING

Minister of State-Owned Enterprises (SOEs) says the government has decided to cancel the Terminal 4 construction of the Soekarno-Hatta International Airport (SHIA) as the capacity of the existing terminals is sufficient to meet current passenger needs.
PLN Indonesia Power (PLN IP), through its joint venture subsidiary PT Trina Mas Agra Indonesia (TMAI), inaugurated on Friday, November 1, 2024 an integrated solar panel factory in Kendal, Central Java, with an initial production capacity of 1 Gigawatt Peak (GWp).
The Purnomo Yusgiantoro Center (PYC), an energy think tank, has emphasized that the development of renewable energy (RE) in Indonesia is a critical factor for attracting multinational companies to invest in the country.
The Ministry of Energy and Mineral Resources (ESDM) has reported that investment in mineral downstreaming in North Maluku was recorded at Rp55 trillion (US$3.5 billion) in the period of January to September 2024.
A research team from the Department of Mechanical and Industrial Engineering at Gadjah Mada −University (UGM) has developed a new wind turbine, named “Antasena,” to optimize new and renewable energy (EBT) utilization in Indonesia’s remote and underdeveloped regions, commonly known as 3T areas (frontier, outermost, and underdeveloped regions).
A senior government official has warned of potential depletion of the country’s nickel reserves within the next four to five years along with the operation of hundreds of nickel smelters that will definitely drain the reserves.