10 startups that could be the next big thing in Indonesia

I love to reference the book Crossing the Chasm by Geoffrey Moore. In a nutshell, the “chasm” is an awkward gap in which tech companies often find themselves during early stages of growth. This gap is a phase in which firms have already captured an early user base, but now must fight to retain those early adopters and try to champion a mainstream majority of users. Folks in Jakarta’s tech circles will likely talk about “explosive, hockey stick growth” when the time comes for startups cross the chasm. Others might use terms like “growing 10x.”

Whichever way you choose to characterize the stage, the chasm is dangerous because startups face a daunting challenge of not moving past their early evangelists. If they can’t move into new audience segments, they stagnate. This may require a drastic pivot, or worse, the startup will have to close down.

Everyone in Jakarta is always on the lookout for the next startup to shower with seed capital, but it seems fewer VCs are thinking about those startups approaching mid-stage and later rounds. There are several players in Indonesia that have already raised capital and are grinding it out – working hard to cross the chasm.

These startups show promise today, and if they’re still growing in Indonesia over the next couple of years, they’ll be the candidates looking for nine-digit investments. In no particular order, here are 10 startups in Indonesia mid- and later stage investors should keep an eye on.

See: 10 things startups should know before entering Indonesia

aCommerce

aCommerce is a prime example of a firm that may be on its way to a nine-digit investment over the next couple of years. Arguably, the firm is already the go-to name for ecommerce logistics and fulfillment in Indonesia. It has definitely partnered up with some of the right names in Jakarta – Lippo Group, MatahariMall, Sinar Mas, and others. aCommerce also set a record for Indonesia’s largest series A funding round, at US$10.7 million, last year.

Group CEO Paul Srivorakul says aCommerce is gearing up for its series B round which he believes will be close to US$30 million. The firm is originally from Thailand, but Srivorakul tells Tech in Asia that Indonesia recently became aCommerce’s largest regional operation.

See: aCommerce aims to pocket $30M series B for ecommerce logistics battle

HappyFresh

Grocery delivery app HappyFresh broke aCommerce’s record in September 2015, however, when it announced a US$12 million series A round from a group of investors led by Vertex Ventures and Sinar Mas Digital Ventures.

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