To hit the unicorn level with a valuation of US$1 billion, the startup founders have presented innovative products to fulfill people’s necessities digitally.
Heaptalk, Jakarta — The technology startup trend in Indonesia continues to elevate as the rapid digital ecosystem adoption among the society in the archipelago.
With innovative breakthroughs to fulfill society’s requisites and outstanding business performance, numerous Indonesian startup has reached Unicorn status, a startup level with a business valuation exceeding US$1 billion, or around Rp15.28 billion (USD1 equals Rp15,290). To be familiar with the multiple Indonesia startup that snatches a Unicorn level, here are the lists:
1. DANA
This financial technology platform has become the unicorn level as of September 8th, 2022. DANA has demonstrated its business performance to seize this position with a valuation worth US$1.13 billion, or approximately Rp16.9 trillion.
2. Akulaku
Akulaku has also occupied the unicorn position, with a business valuation worth US$2 billion, or around Rp30 trillion. Recently, this financial technology app has also officially gained new capital from Mitsubishi UFJ Financial Group (MUFG) of US$200 million, or equal to Rp3.06 billion.
3. Kopi Kenangan
Kopi Kenangan is one of the food and beverage (F&B) startups with the most outstanding business performance in Indonesia, leading this brand position to be a unicorn level. Accomplishing a unicorn level, this food and beverage brand has a valuation of around US$1 billion, or about Rp15 trillion.
4. OVO
OVO has seized unicorn status since March 14th, 2019. The business valuation of the platform has developed significantly, even exceeding unicorn predecessors, namely Bukalapak and Traveloka. As recorded by the company, this electronic wallet OVO has gained an investment of US$120 million (Rp1.7 trillion) from Tokyo Century.
5. Bukalapak
This e-commerce platform has officially reach unicorn status in early 2017. As it is known, the startup has a valuation worth US$1.5 billion, or around Rp21.9 trillion, as of August 2021. In addition, the company has also announced our capital to other technology companies, spanning the Allo Bank to the strategic acquisition of PT Belajar Tumbuh Berbagi.
6. Xendit
As the financial technology app in Indonesia, Xendiit has also managed to seize a unicorn level as of September 2021, following a Series C funding round worth US$150 million, or approximately Rp2.1 trillion. In addition, Xendit also obtained a new injection of US$300 million in a Series D round.
7. Ajaib
In 2021, an investment platform Ajaib also became a unicorn startup in Indonesia, with the company’s valuation worth US$243 million or equal to Rp3.5 trillion in 2021. With excellent business performance, Ajaib has succeeded in grabbing this level in only two years’ duration.
8. Traveloka
Receiving strategic investment from Expedia worth US$350 million, or equal to Rp5.3 trillion, has made this online travel and hotel bookings Traveloka attain a unicorn level around the startup ecosystem in Indonesia as of 2017. Moreover, several investors also pour capital into Traveloka, spanning the United States GFC and Hillhouse Capital Group.
9. J&T Express
J&T Express is the only startup in the supply chain, logistics, and delivery sectors. The company reached the unicorn level in April 2021, with a valuation of US$7.8 billion (Rp118 trillion). Also, the company filled the unicorn category as this startup focuses on customer-oriented and technology utilization.
