Antler has recently announced its plan to launch in Jakarta to enable more Indonesian entrepreneurs to build successful startups through its platform. Antler’s vision is to invest in at least 20 Indonesian startups annually and give founders support by helping them form the right team, funding them from day 1 and giving them access to a global network of advisors and mentors.
“We see a lot of driven individuals in Indonesia who want to become entrepreneurs. We want to give them a support system to create successful startups for Indonesia and the region. While the domestic market is huge and there are plenty of opportunities, there is a gap in providing a platform and ecosystem for individuals who want to build a company from scratch. Antler wants to bridge that gap.”
According to a recent Google Temasek report, Indonesia will be a USD $100 billion internet economy by 2025. Given that it is one of the largest and fastest-growing markets in the world, Antler sees huge potential and will launch a local program out of Jakarta in the first half of 2020.
One of the key members of Antler’s Southeast Asia team is Chief Investment Officer Stefan Jung, who is based in Indonesia. Stefan has deep experience in investing in tech startups in the region at an early stage. He was previously Managing Partner of Venturra Capital, an Indonesia based VC fund. He has led investments in companies such as Traveloka, Grab, Zilingo and Carro. Stefan is also the co-founder of Zalora, Lazada and Happy Fresh.
Antler has built a strong network of advisors and mentors across the region. In Indonesia, Martin Hartono, CEO of GDP Venture; Noni Purnomo, Group President of Blue Bird Group; and Florian Holm, former co-CEO of Lazada Indonesia, are part of the advisory network.
"Antler has an innovative take on entrepreneurship that I think will benefit Indonesia.”
“It's great to see such good quality teams and how fast they start realizing their company concepts."
“Antler has been with us from day one. They have been providing guidance in areas where we had zero experience in and giving us access to a massive network of amazing mentors and investors. We would not be where we are today without their support.”
Base, a 6-month-old personalized direct-to-consumer (DTC) beauty and wellness company has secured an undisclosed amount of seed funding led by East Ventures and Skystar Capital. They were part of Antler’s second Singapore program. This fresh investment will fuel its mission to accelerate the growth of its consumers and recruit more talent. Base plans on changing that with their vegan and halal products catered for millennials and Gen-Z Indonesian women.
“Only one month after Antler’s Demo Day, we managed to secure our seed funding round. We are really excited to work closely alongside East Ventures and Skystar Capital to build Base further. This collaboration took place because Antler helped connect us to a strong network of VCs and Angels in Southeast Asia, who believe in our mission to redefine the beauty and wellness industry in Indonesia.”
Antler currently has four Indonesian startups that were generated under the Singapore program:
Sampingan is a company that has been able to provide thousands of Indonesians with jobs across the country and increased their average income. The platform focuses on jobs such as sales, data collection, distribution and collection and dispatch. Sampingan received early funding from Golden Gate Ventures.
Base offers personalised skincare for the modern millennial Indonesian woman. It is a fully digital direct-to-consumer (D2C) skincare platform with high-quality products made from halal and vegan ingredients.
Robin automates reference checks and verifies the employment history of applicants while providing organisations with qualitative insights by engaging referees who have previously worked with the applicant.
Bubays provides young families in Indonesia with healthy baby food, delivered to their doorstep. They ensure the dishes are made with fresh ingredients, carry the necessary nutrients and are tasty for young children. The tech platform enables users to personalise their order based on their baby’s age, allergies and also helps track the baby's development.