Stilomo and Ifetcha Raise Angel Funding, Both Launching Soon

Stilomo and Ifetcha have both successfully raised funding from angel investors. There hasn’t been a figure attached to the investments, but from what I’ve heard from the founders it is enough for them to launch and market their products. Both Stilomo and Ifetcha were part of the first graduates from the Jakarta Founder Institute, and graduated just two months ago.

Stilomo is – or, rather, will be – a mobile app that allows users to get promotions/deals by sharing them to social media accounts. Founded by Stanley Octavian, Rebecca Agiestha, and Nick Yudha, they are trying to differrentiate their startup from Groupon, LivingSocial or any group buying services by providing small- and medium-sized business owners the virality and traffic to their stores from these shared deals. It has a clear business model, and reminds us of the similar Singapore startup that is doing quite well called GSpot. Stilomo is currently developing an Android app, to be followed by Blackberry and iOS apps later. The beta version of the Android app will be released in May, and the startup will launch to the public around June.

Ifetcha is a dating service that helps users connect and interact with new people around them using its LBS app. Targeting 91 million single Indonesians, the startup was founded by the trio of Muhammad Ikram, Yady Guitana, and Jidesh Veeramachaneni, and will utilize social and gaming aspects into its mobile app. There will be virtual goods for sale as part of its revenue model, which will allow users to woo a potential date. My colleagues in China note that such apps are doing well amongst Chinese 20-somethings, such as Momo, and Mix.

I contacted both startups to get to know more about the funding rounds:

Rebecca, co-founder of Stilomo, explained:

We can’t mention its amount or even the range. But we can assure that the number is best-suited for us to kick-starting the company at its earliest stage. At first, we are focusing on product development, then we build our sales force to grab cooperation with some merchants, and we also plann some strategic alliances with telco providers, handsets, media or any other party that we believe could bring us to a higher level. We are only targeting merchants who are restaurants and in the food and beverage category in the first 6 months, then we’ll become available to any other categories like fashion, retail, and so on. In the long run, Stilomo allows people not only to hunt exciting promos, but they can explore the city business listings, and interact with their friends in a playful way. For merchants, Stilomo simply switches your customer to be a personal buzzer for your brand via social media.

Yady, co-founder of Ifetcha, told us:

We cannot disclose the details of our funding but it will be used mainly toward product development and refinement. We are currently focused on building our application and will launch a closed private beta at the beginning of May.

It is a solid recognition of the Jakarta Founder Institute’s graduates to get angel funding in less than three months from finishing the program – not to mention they haven’t even launched! I’ve also heard that the same angel investor actually approached all the graduates with regards some financial backing, but for now only these two have been confirmed. Meanwhile, Jakarta Founder Institute is currently opening its second batch and will close its registration on May 12, 2012 – go sign up for it here.