Imajin has bridged 500 manufacturing companies with more than 100 customers. The fund will be allocated to improve products and services, whilst broaden business network.
Heaptalk, Jakarta — Indonesia’s manufacturing startup, Imajin, has obtained an undisclosed amount of seed funding led by East Ventures. Moreover, several parties backed this round, including 500 SEA, Init 6, and angel investors.
Through this fresh injection, Imajin will allocate the capital to advance the product and services, augment the resources, and broaden its business network domestically and globally. Founded by Chendy Jaya lead the position of Chief Executive Officer, Stefanus Hodir serves as the Chief Marketing Officer, and Joseline Olivia occupies the Chief Product Officer of the Imajin startup. Establishing this manufacturing company, the founders have the goal of becoming a digital creative manufacturing ecosystem.
Responding to the new investment accomplishment, Chendy voiced, “We are pleased to receive trust from investors in this funding round. We believe this investment will reinforce us to magnify the potential of Small and Medium Manufacturing Enterprises (SMEs). Therefore, we aim to continue to elevate our platform and service quality, specifically for Imajin’s vendor partners,”
As a startup in the manufacturing industry, Imajin proffers various types of production in the manufacturing industry, spanning mold and dies manufacturing, metal, and plastic parts production, raw material trading, fabrication, and mass production. Concurrently, the startup also aims to leverage the manufacturing ecosystem, particularly for the small to medium players.
For this reason, Imajin startup will continue to boost the manufacturing SMEs to scale and develop by offering manufacturers assistance in enhancing new products from prototypes to ready for mass production. On the other hand, the management team also ensures high-quality production results through a standardized quality assurance process implementation and efficient project management experience provision by adopting Software as a Service (SaaS).
The spike in the country’s digital ecosystem also made Imajin crucial in advancing manufacturing SMEs to digitize their operations and create a connected network between players to increase cooperation. Perceiving multiple needs of manufacturers, Imajin also facilitates the purchase of raw materials through the marketplace with flexible payment options.
Business completion of Imajin in the manufacturing sector
Imajin startup perceives massive potential in increasing domestic production, particularly in the automotive sector, as one of the dominant industries. This positive performance demonstrates that the national manufacturing industry is continuously enhancing after being affected by the Covid-19 pandemic amidst the uncertain global economy.
Referring to Indonesia’s Coordinating Ministry for Economic Affairs report, the non-oil and gas processing industry has climbed by 4.88% YoY and contributed to the GDP by up to 16.10%. Meanwhile, Indonesia’s automotive sector has exceeded the national economic growth. As for manufacturing, motor vehicle utilization has attained 69.20% as of 2022, improving 40% compared to the pandemic period.
Since its establishment, Imajin has cooperated with over 500 manufacturing companies, consisting of Mold Makers, DIes Makers, Injection, Stamping, and Fabrication. This technology startup based in Tangerang has served more than 100 customers, including local and Japanese enterprises in Indonesia. Imajin will continue to support other local manufacturers, particularly in the automotive industry.
Furthermore, in June 2022, this technology company was invited by the Embassy of the Republic of Indonesia in Tokyo and Indonesia’s Ministry of Industry to be a business delegation representing the country at Indonesia-Japan Auto Parts Business Forum. From this agenda, Imajin has succeeded in cooperating with several Japanese business associations, covering the Central Japan Economic Federation (Chukeiren) and JETRO Nagoya.
This manufacturing platform was also selected as one of the participants in the Startup Studio Indonesia accelerator program. As a result, Indonesia’s Ministry of Industry appointed this startup as the only manufacturing hub to boost technology and competitiveness in industry 4.0.
Leading the seed round of Imajin investment, Partner of East Ventures, Melisa Irene, welcomes this startup to be a part of this venture capital firm’s portfolio. She expects the Imajin company will be an adequate solution for the manufacturing industry and play an active role in bolstering this sector’s progress and boosting the digital ecosystem around this industry. From this achievement, Melisa looks forward to further seeking other positive improvements for Imajin.
