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///LATE STAGE • Sociolla • US$ 250M • Commerce///POLICY • Gold Export Duties: Progressive Reference-Price Ladder Kicks In///SERIES A • Hangry • US$ 10.5M • F&B///POLICY • Coal Export Tax 2026: Indonesia Signals a New Resource-Rent Phase///SERIES B • Honest • Undisclosed • Fintech///POLICY • Export FX Repatriation: Proceeds Routed Through State Banks From 2026///SEED • Arummi Foods • US$ 2M • F&B///POLICY • OJK POJK 4/2025: Financial Aggregators Move Into a Licensing Regime///PRE-SEED • IDRX • US$ 300k • Web3///POLICY • Finfluencer Rules: OJK Tightens Conduct Around Securities Marketing///SERIES C • Yup • US$ 32M • Fintech///POLICY • Dormant Accounts: New Standardization Changes Bank Data and Ops///LATE STAGE • Sociolla • US$ 250M • Commerce///POLICY • Gold Export Duties: Progressive Reference-Price Ladder Kicks In///SERIES A • Hangry • US$ 10.5M • F&B///POLICY • Coal Export Tax 2026: Indonesia Signals a New Resource-Rent Phase///SERIES B • Honest • Undisclosed • Fintech///POLICY • Export FX Repatriation: Proceeds Routed Through State Banks From 2026///SEED • Arummi Foods • US$ 2M • F&B///POLICY • OJK POJK 4/2025: Financial Aggregators Move Into a Licensing Regime///PRE-SEED • IDRX • US$ 300k • Web3///POLICY • Finfluencer Rules: OJK Tightens Conduct Around Securities Marketing///SERIES C • Yup • US$ 32M • Fintech///POLICY • Dormant Accounts: New Standardization Changes Bank Data and Ops
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RuangguruSeries C
Jakarta| Est. 2014
Series C
Subscription-based B2C learning content, private tutoring marketplace (20% commission), Brain Academy hybrid learning, Skill Academy professional courses, and enterprise LMS (Ruangkerja). First profitable year achieved.
Investment Thesis
"Poor public education creates massive demand. 56M students in Indonesia with government education budget exceeding IDR 500T."
Recent Signals
- 01Acquired M Class (Vietnam) 2023.
- 02Achieved profitability.
- 03Founder Belva became presidential advisor.
- 04Layoffs in 2022 restructuring completed.
Key People
- AAdamas Belva Syah Devara
- MMuhammad Iman Usman
Cap Table
Verified Funding History
| Round | Date | Amount | Participating Investors |
|---|---|---|---|
| Series C Ext | Apr 2021 | US$ 55M | Tiger Global, GGV Capital |
| Series C | Dec 2019 | US$ 150M | General Atlantic (co-lead), GGV Capital (co-lead), EV Growth |
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