East Ventures to raise funds to help produce 100,000 Covid-19 test kits

Since reporting its first two confirmed cases of Covid-19 on March 2, Indonesia has seen the number of cases rise to almost 900 as of yesterday. One of the biggest obstacles the country’s facing is the limited supply of test kits, making it difficult to aggressively curb the spread of the virus.

Nusantics, a local deep-tech startup in the field of genomics, and early-stage VC firm East Ventures are looking to address this problem. East Ventures is an investor in Tech in Asia.

Photo credit: Nusantics

Nusantics is a member of the Technological Research and Innovation Task Force for Covid-19 under Indonesia’s Technology Assessment and Application Agency (BPPT). In the next three weeks, the startup will develop a test kit that can detect Covid-19 infections, according to a statement.

“Technology that Nusantics uses in skin microbiome analysis is similar to technology used to detect Covid-19,” Nusantics CEO Sharlini Eriza Putri said. The startup analyzes profiles of microbiomes – the genetic material of viruses, bacteria, fungi, and protozoa – to fulfill consumer needs. It also recently secured seed funding from East Ventures. “Our sense of duty to Indonesia and the right background move us to contribute more,” the chief exec added.

Nusantics said it has committed to produce 100 test kit prototypes, then continue with mass production of 100,000 test kits.

It also looks to run whole genome sequencing to profile the virus genomic, an essential step as the disease continues to mutate to adapt to its host and environment. The company will use the data to validate test kits.

In support of Nusantics and BPPT, East Ventures has launched a movement called Indonesia Pasti Bisa to mobilize its digital network and lead a fundraising campaign for the test kit production.

The firm aims to raise 10 billion rupiah (or over US$600,000), according to the statement. Ninety percent of the fund will be used for the test kits, while the remaining portion will be allocated for the whole genome sequencing project.

East Ventures has tapped its portfolio companies, fintech startup KoinWorks and media company IDN Media, as accountability and transparency partners, respectively.

According to East Ventures co-founder and managing partner Willson Cuaca, KoinWorks will be contributing its expertise in compliance and disbursement management, while IDN Media will provide skills in outreaches and storytelling.

The public can participate in the initiative by donating money, equipment, or skills through this website.