Heaptalk, Jakarta — Indonesia’s research startup Populix gains first close of its Series B round, raising US$4.3 million (approximately Rp72 billion), led by MSW V Asia Fund X, with continued participation from Intudo Ventures, Altos Ventures, and Acrew Capital.
Populix plans to allocate the Series B capital toward two significant initiatives, including:
- Enhancing its AI capabilities to automate and expedite the research process.
- Developing synthetic respondents, AI-generated personas designed to replicate human responses, enabling faster and more scalable data collection.
These investments are expected to improve research speed and empower businesses and policymakers to utilize AI more effectively in data-driven decision-making.
According to Kerry Whorton Cooper, Acrew Capital’s venture advisor, AI has fundamentally transformed the way data is gathered and interpreted. Whorton observed that Populix is uniquely positioned to take advantage of this evolving research landscape, as reflected in their client loyalty and innovative roadmap.
This investment marks a major milestone for Populix and is particularly significant given the challenging investment climate in the region. Despite the ongoing tech winter and recent turbulence in the Indonesian stock market, Populix has managed to secure investor confidence amid a widespread downturn.
“We are deeply grateful for our investors’ trust in us, particularly in the current market environment. With this new funding, we will further strengthen our business fundamentals, enhance our product offerings, and leverage technology to drive future innovation. We also aim to expand our presence across Southeast Asia to meet the growing needs of our clients,” said Co-Founder and CEO of Populix, Timothy Astandu.
A Shifting Market Research Landscape
The market research industry is undergoing a transformation driven by technology, data privacy awareness, and shifting audience behavior.
“Over the past decade, the concept of market research has evolved from fundamental sample data analysis into a sophisticated model of real-time intelligence sensing. Populix is ahead the curve in combining the depth of traditional research with the speed and actionability of synthetic data and AI,” Founder and General Partner at MSW Ventures, Jeffrey Seah, said.
Seah further emphasized that three key forces are reshaping the research industry:
- Increasing scrutiny over data privacy after decades of exploitation by social media platforms.
- A rise in community-based, self-referencing identities that challenge traditional sampling methodologies.
- The emergence of AI and synthetic audiences reflects new approaches to consumer insights.
“Even amid current market challenges, Populix continues to deliver value through reliable, data-driven insights. With new products in the pipeline, we believe Populix is well-positioned to become Indonesia’s leading consumer insights platform and beyond.” The Founding Partner at Intudo Ventures, Patrick Yip, was affirmed.
A Journey of Consistent Growth and Innovation
Since its Series A round in 2022, Populix has steadily evolved its platform to make research more accessible and actionable. In 2023, the company introduced its Policy and Society Research service to support public institutions in analyzing public sentiment, policy impact, and socio-economic trends.
The startup also rolled out NeXa, an AI-powered research assistant that guides users through the entire research lifecycle, from questionnaire design to respondent targeting and insight generation. In the past year, Populix has doubled its project volume, with 65% of these coming from recurring clients. This underscoring the trust and satisfaction of its reach into new sectors, including telecommunications and government, demonstrates its capability to serve diverse research needs.
“Populix is revolutionizing consumer insights in Indonesia by harnessing technology to its full potential. We are proud to support visionary leaders with strong execution and forward-looking strategies,” said Richard Song, Partner at Altos Ventures.
