Init 6 backs Indonesian protein water brand’s pre-seed round

Photo credit: one% Nutrition

One% Nutrition, an Indonesian health and wellness consumer brand, has received an undisclosed amount of pre-seed funding from Init 6, an investment firm established by Bukalapak founders Achmad Zaky and Nugroho Herucahyono.

Other participating investors include First Move, the Malaysia-based VC firm founded by Fave’s Joel Neoh.

“With the average Indonesian lagging in protein consumption but experiencing high sugar intake, we saw an urgent opportunity to offer a convenient, better-for-you solution,” said Ken Opamuratawongse, CEO and co-founder of One% Nutrition, in a statement to Tech in Asia.

One% Nutrition says its strawberry-flavored drink is packed with 16 grams of protein while being sugar free. The firm has partnered with gyms, fitness communities, and health-focused retailers to distribute its beverage.

The company plans to use the funds to expand its product offerings and markets across Southeast Asia, Opamuratawongse said. However, the company’s statement did not indicate which countries it is targeting next.

This comes as Indonesia’s sports economy reached 39.45 trillion rupiah (around US$2.4 billion) or about 0.19% of its gross domestic product last year, according to a 2024 report released by the country’s Ministry of Youth and Sports.

“We’ve been following the development of sports lifestyle and its growth in major cities and believe it has significant potential, not only in Indonesia but across the Southeast Asian market,” said Rexi Christopher, a venture partner at Init 6.

Currency converted from Indonesian rupiah to US dollar: US$1 = 16,461 rupiah.