Consumer insights startup Populix raises $1m from Intudo, Gobi, others

Indonesia-based consumer insights provider Populix closed a US$1 million seed funding round led by independent VC firm Intudo Ventures.

Gobi Agung, an early-stage fund set up by Gobi Partners, and Silicon Valley-based Pegasus Tech Ventures also participated in the round, according to a statement.

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Founded early last year, Populix operates a platform that helps businesses connect with its database of respondents and provides them with insights to better understand the preferences of Indonesian consumers. Its products range from intensive research studies to simple surveys and can be arranged on a project or subscription basis.

The startup plans to use the new funds to develop new product offerings, up its marketing efforts, and make new hires. In addition, the company is planning to expand beyond Indonesia and cover more markets in Southeast Asia.

“The market research industry has long withstood change despite the massive shifts in consumer habits brought about by modernization and digitalization. By starting Populix, we aspire to improve market research, using technology to streamline research processes while simultaneously making it more rigorous,” said Populix co-founder and CEO Timothy Astandu.

The company said it works directly with clients to support research design, respondent recruitment, data analysis, and targeted recommendations to provide tailored consumer research.

During its first year of operations, the company claims to have completed research on more than 70 brands across 27 industries. Its clients include multinational companies, small and medium-sized enterprises, and individuals across Europe and Asia Pacific.

Populix was part of the second batch of Gojek Xcelerate, an accelerator program launched by Gojek in collaboration with Google Developers Launchpad, UBS, McKinsey & Co, Digitaraya, and Simona Ventures.