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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
Market Operators

Startups Directory

The operators building Indonesia's future economy.

Tracking 9 Companies

Electrum

Growth
HQJakarta
Est.2021
FundingUS$ 15M

Electric two-wheeler ecosystem JV between GoTo, Pertamina, and Hyundai. 260+ battery swap stations across Indonesia.

EVInfrastructure
Dossier

J&T Express

Public (HKEX: 9618)
HQJakarta
Est.2015
FundingUS$ 3.3B+

Southeast Asia's largest e-commerce logistics provider operating across 13 countries, processing 2.5M+ packages daily in Indonesia alone.

Logistics
Dossier

Kargo Technologies

Series B
HQJakarta
Est.2018
FundingUS$ 38.6M

Digital trucking platform connecting shippers with truck owners. Backed by Travis Kalanick's 10100 Fund.

Logistics Tech
Dossier

MAKA Motors

Seed
HQCikarang
Est.2021
FundingUS$ 37.6M

R&D-led electric motorcycle manufacturer building specifically for Indonesian riders. Largest Seed round in SEA history.

EVAutomotive
Dossier

Paxel

Series C
HQJakarta
Est.2017
FundingUS$ 58.8M

Same-day delivery platform with unique relay model enabling inter-city delivery at low cost. Strong cold chain capabilities.

Logistics
Dossier

Shipper

Series B
HQJakarta
Est.2017
FundingUS$ 132M

One-stop logistics platform providing fulfillment, warehousing, and multi-carrier shipping aggregation for 25,000+ e-commerce sellers.

LogisticsFulfillment
Dossier

SiCepat

Series B
HQJakarta
Est.2014
FundingUS$ 220M+

Leading express logistics company processing 400K+ packages daily with next-day delivery across Indonesia. Primary Shopee logistics partner.

Logistics
Dossier

SWAP Energy

Series A
HQJakarta
Est.2019
FundingUS$ 22M

Battery swapping network for electric motorcycles with thousands of swap points across Indonesia.

EVInfrastructure
Dossier

Waresix

Series B
HQJakarta
Est.2017
FundingUS$ 150M

Indonesia's largest logistics tech integrator connecting shippers with 40,000+ trucks and 375+ warehouses across 100+ cities.

Logistics Tech
Dossier
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