20 Tahun Reformasi: Tapak Tilas Sejarah Startup Indonesia

0

TEMPO.CO, Jakarta – Dalam kurun waktu 20 tahun reformasi, startup atau perusahaan rintisan digital tampil sebagai model bisnis dengan nilai investasi yang menjanjikan. Hasil riset Google bersama A.T. Kearney pada September 2017 menyebutkan nilai investasi startup digital menyentuh Rp 40 triliun di kuartal I 2017.

Nilai itu mengungguli investasi sektor lain seperti makanan dan minuman, Rp 37 triliun; kelistrikan, gas dan air Rp 36 triliun; serta baja, mesin dan elektronik Rp 33 triliun.

Bendahara Asosiasi Modal Ventura dan Startup Indonesia (Amvesindo) Edward Ismawan Chamdani mengisahkan, terbentuknya ekosistem investasi startup digital Indonesia sedikit terpengaruh fenomena bubble dot-com medio 1998-2000.  Dot.com adalah sebutan untuk perusahaan-perusahaan berbasis internet.

Namun, Edward mengatakan demam dot-com tidak begitu tinggi di Indonesia. Selain itu, menurut perhitungan Edward, hanya ada satu modal ventura yang lahir. Akibatnya, perusahaan dot-com yang terlanjur berdiri hanya bisa mengharapkan investor individu atau mencari modal ke luar negeri. “Di Indonesia memang cuma sebentar,” ujar Edward kepada Tempo, Senin, 14 Mei 2018.

Menurut Edward, titik awal terbentuknya ekosistem investasi startup digital mulai sejak 2010. Bermula East Ventures mengguyur Tokopedia dengan dana segar. Tahun yang sama, PT Telekomunikasi Indonesia menyuntikkan modal ke Plasa.com–sekarang Blanja.com.

Setelahnya, beberapa perusahaan modal ventura muncul, seperti Ideosource milik Edward, berdiri tahun 2011. Ekosistem investasi startup digital Indonesia dapat disebut matang pada tahun 2014. Perusahaan asal Singapura, Northstar Group, menanamkan modal ke Gojek, startup yang kini merupakan satu dari empat unicorn atau memiliki valuasi US$ 1 miliar di Indonesia.

Sejak itu, modal ventura dan startup digital melaju pesat secara bersamaan. Sebagai contoh, sejak mendapat lisensi dari Otoritas Jasa Keuangan (OJK) tahun 2017, Ideosource telah berinvestasi di 20 startup. “Potensi perkembangan startup sangat bagus dengan ekosistem saat ini,” kata Edward.

Center for Human Genetic Research (CHGR) mencatat, startup di Indonesia tahun 2016 kurang-lebih berjumlah 2.000. CHGR memprediksi angka tersebut naik 6,5 kali lipat pada tahun 2020. Situs  www.startupranking.com  menyebutkan, startup di Indonesia tahun 2018 berjumlah 1,807. Indonesia menempati peringkat ke-6 sebagai negara dengan startup terbanyak di dunia, sekaligus pemuncak di level Asia Tenggara.

Secara statistik, CEO Go-Jek Nadiem Anwar Makarim mengatakan, 90 persen dari jumlah itu bakal tumbang. Nadiem yang mengaku tiga kali gagal sebelum mendirikan Go-Jek itu mengatakan, minimnya peluang keberhasilan harus diterima oleh calon founder. “Untuk jadi founder, harus cukup ‘gila’ untuk menerima tantangan itu,” kata Nadiem, Selasa, 15 Mei 2018.

Nadiem menuturkan, tingginya pertumbuhan pemain startup digital sejalan dengan besarnya peluang investasi. Nadiem memperkirakan, dalam 5-10 tahun ke depan arus investasi bisnis digital sangat besar.

Desember 2017, Google dan Temasek merilis hasil riset mengenai investasi usaha startup digital di Asia Tenggara. Dari tahun 2016 hingga kuartal III 2017, jumlah investasi ke startup digital Asia Tenggara mencapai US$ 12 miliar. Dari total dana itu, sebanyak 34 persen atau US$ 4,08 miliar atau setara Rp 55 triliun masuk ke Indonesia.

Chief Executive KIBAR Yansen Kamto menyatakan saat ini merupakan momen terbaik untuk startup digital. Semua kebutuhan, mulai dari konektivitas internet, user dan investor telah tersedia. Terlebih, kehadiran wadah seperti inkubator dan coworking space atau ruang kerja bersama semakin memudahkan. “Tinggal bagaimana anak muda mau memulai,” kata Yansen, Rabu, 16 Mei 2018.

Menurut Yansen, calon industri terfavorit bagi calon founder startup digital adalah agrikultur, pariwisata, kesehatan, logistik, pendidikan dan energi. Yansen mengatakan, enam sektor itu punya banyak masalah yang perlu dicari solusinya melalui inovasi.

Source   : 20 Tahun Reformasi: Tapak Tilas Sejarah Startup Indonesia

Writer  : M Yusuf Manurung, Andi Ibnu, Jenny Wirahadi, PDAT TEMPO 

Bhinneka.com Berdaya setelah Nyaris Lumpuh

0

PADA 1998–1999, bisnis PT Bhinneka Mentari Dimensi nyaris lumpuh. Jumlah karyawan yang-semula mencapai 129 orang tinggal tersisa 24 orang. Itu adalah tahun krisis yang kemudian ditangkap Nicholas Tio dan Hendrik Tio sebagai peluang. Mereka awalnya melihat ada tren belanja online yang sedang hit di Amerika. Maka lahirlah situs Bhinneka.com yang masih berupa profil perusahaan, yang disetujui untuk dijadikan model online store.

Awalnya, PT Bhinneka Mentari Dimensi berdiri pada 1993. Perusahan ini memang bergerak di- bidang distribusi dan penjualan produk – produk teknologi informasi sebagai inti bisnisnya, seperti PC build up dan PC compatible, periferal, jaringan (LAN/WAN), solusi video editing hingga pusat servis.

Dari sinilah awal mula kisah sukses Hendrik Tio bermula. Karena kesulitan dalam penjualan dan krisis ekonomi di Indonesia, PT Bhinneka Mentari Dimensi mulai mencoba model bisnis yang-baru. Model bisnis baru ini menggunakan internet sebagai channel untuk berjualan.

Awalnya, Bhinneka belum menjual gadget. Kala itu, jualan Bhinneka fokus pada spare part komputer sebab saat itu sedang marak bisnis merakit komputer. Kini Bhinneka telah bekerja sama dengan 9.000 vendor yang terdiri atas 28 kategori produk dan 115 ribu produk.

Bhinneka menyediakan platform dengan dua jenis. Pertama, platform yang dapat digunakan semua customer. Pada platform ini customer hanya tahu Bhinneka.com.

Fokus B to B
Platform yang kedua ialah platform yang disediakan khusus oleh Bhinneka atas permintaan dari perusahaan. Pada platform ini, perusahaan dapat melihat semua vendor. Bhinneka mulai fokus menggarap skema bisnis business to business (B to B), dengan memberikan penawaran khusus pada klien perusahaan. Misalnya perusahaan besar biasa membayar 3 hari sampai 5 hari kerja.

Pengalihan fokus dari business to customer (B to C) menjadi B to B untuk melihat peluang baru. Hal ini lantaran kompetisi B to C sudah sangat ketat dengan adanya perang diskon, gratis ongkos kirim, dll. Bhinneka ingin mengakuisisi customer sebanyak-banyaknya, ingin memperbanyak produk. Misalnya ingin masuk ke produk alat bor dan perkakas lainnya seperti Ace Hardware. Selain itu, Bhinneka akan menambah mitra vendor. Penambahan ini tentunya dengan melakukan kurasi terlebih dahulu oleh tim Merchant Group. (*/H-5)

 

Source : http://mediaindonesia.com

Writer :  Merchant Group

Menilik Tren Investasi di Film

0

DUKUNGAN bagi industri startup Indonesia mulai besar dari banyak pihak yang membuka inkubator. Fasilitas inkubator bagi startup dinilai bakal mendorong pengembangan industri itu menjadi lebih baik dan punya ruang gerak lebih besar. Saat ini, fasilitas inkubator bagi startup telah dibangun pihak swasta, termasuk pemaparan beberapa program periodik yang membantu bibit startup diselenggarakan inkubator-inkubator tersebut. Namun, sayangnya, demam pembangunan inkubator yang menjangkiti banyak pihak itu tidak menarik minat venture capital. Hal itu diungkapkan langsung oleh Andi Surja Budiman, Managing Partner Ideosource Venture Capital.

Meski begitu, ia menyatakan tak menafikan pentingnya kehadiran inkubator bagi industri startup di Indonesia; berkolaborasi dan menciptakan dampak untuk entrepreneur Indonesia. Andi yang mengawali bisnis permodalan sejak 2011 langsung menggandeng delapan startup. Dengan keyakinan Andi akan keberhasilan pada bisnis permodalan ini, Ideosource terus melebarkan kiprahnya ke 27 perusahaan startup, di antaranya di bidang gim, media, dan e-commerce.

Seiring dengan pengalaman berinvestasi, Ideosource semakin jeli melihat startup yang memiliki tingkat perkembangan yang cukup prospektif. Berkat dasar itulah investasi yang dilakukan Ideosource mendanai startup dengan valuasi pertumbuhan yang sangat baik. Salah satunya perusahaan e-commerce seperti Bhinneka.com.

Bhinneka banyak mendapatkan saran dan masukan positif secara manajemen. Hal itu menjadikan Bhinneka.com mampu bersaing, baik di lokal maupun global. Perusahan yang awalnya bergerak di bidang distribusi dan penjualan produk-produk teknologi informasi seperti PC build up dan PC compatible, periferal jaringan atau LAN, dan solusi video editing hingga pusat servis terus menjelma menjadi bisnis online terkemuka di Indonesia.

Akhir 2017, Andi S Budiman bersama Ideosource miliknya pun melebarkan sayap bisnis dengan memulai berkolaborasi di bidang perfilman Indonesia. Salah satunya serial drama televisi Keluarga Cemara yang populer diera 90-an yang akan kembali hadir dalam format layar lebar di pertengahan 2018 ini. Sebagai venture capital, Ideosource tak hanya mendanai startup, tapi juga mendanai film Indonesia.

Kesamaan Visi
Film karya produser Anggia Kharisma dari rumah produksi Visinema Pictures yang bekerja sama dengan Ideosource Film Fund dilatari kesamaan visi. Hal itu membuat keduanya sepakat memproduksi ulang film atau remake dariserial drama Keluarga Cemara yang diadaptasi dari serial televisi.

Dengan mengusung nilai-nilai luhur dalam keluarga modern, nantinya film itu dirasa penting dan menjadi relevan dengan situasi masa kini. Film yang disutradarai Yandy Laurens dengan Ringgo Agus dan Nirina Zubir sebaga pemeran tokoh Abah dan Emak, film ini akan menambah daftar film keluarga Indonesia.

Selain narasumber Anggia Kharisma, Nirina Zubir, Ringgo Agus, dan founder Ideosource Andi- Surja Boediman, Big Circle episode 47 juga menghadirkan Pembawa acara Amanda Zevannya akan didampingi mentor Danton Sihombing yang juga CEO dan founder Inkara Brand Consulting akan memberikan banyak insight kepadanarasumber tersebut. (H-2)

Source : http://mediaindonesia.com

Writer : Retno Hemawati

Indonesia’s online retailer Bhinneka revises IPO plan, may go public in 2018

0

PT Bhinneka Mentari Dimensi, Indonesia’s oldest online retailer, has revised its initial public offering (IPO) plans and may go public as soon as next year, its CEO told this portal.

“We are looking at an IPO earlier than our announced target of 2020. We may look at 2018 and plan to raise not more than $100 million through the IPO,” said Bhinneka Mentari Dimensi CEO Hendrik Tio.

Earlier this year, the company had announced that it plans to sell 30 per cent of its shares in an IPO in 2020, and raise funds to expand its business.

“I think our brand is more recognized in Indonesia and it makes more sense to list here now soon. Next year, we may see many companies tap the IPO market. Maybe after we expand ourselves in other regions, we might think of a dual listing but we still haven’t confirmed our plans yet,” Tio told this portal in an exclusive interaction.

Bhinneka is an O2O (online to offline) e-commerce startup specialising in computers and IT products, communications goods, and consumer electronics. The O2O model allows users to buy online and choose to either get their goods delivered to their homes or pick them up from physical kiosks.

Tio co-founded the startup 23 years ago in a small rented home in Jakarta with a team of 12. The Indonesian firm then started creating an offline store network in 2004 and today sells through both its website Bhinneka.com and physical retail stores. Its last known funding round was in November 2015 when it raised Rp 300 billion ($22 million) from local venture capital firm Ideosource.

The e-commerce firm had initially targeted to go public in 2018 but later deferred its plan to 2020.

Bhinneka claims to cater to over 390,000 visits from the end-consumers but is largely focused on its business-to-business (B2B) model where it sells to small and medium enterprises, ministries and provincial governments. Its corporate customers contribute almost 75 per cent to its revenues, and the company is planning to add more services for its corporate clients.

Bhinneka is present in 32 cities across Indonesia and its expansion plans include a special focus on the island of Java. The company claims to be profitable and is looking at high double-digit growth in the next two year, Tio said.

Outside of China and India, Indonesia is the hottest e-commerce market in Asia; it is expected to grow from $8 billion in 2016 to $65 billion by 2020. Today, the strongest-funded e-commerce player in the country is Tokopedia, backed by Chinese tech giant Alibaba which invested $1 billion in the company this year.

Indonesia saw its first ever startup go public this year as O2O e-commerce firm Kioson raised 45 billion rupiah ($3.3 million) by selling 150 million shares. Its offering was oversubscribed more than 10 times.

Next to follow suit was PT M Cash Integrasi (MCI), the digital kiosk firm, that raised $22 million in its IPO. Owned by publicly-listed investment firm Kresna Graha Investama, MCI saw private equity firm PAG Asia Capital and Maybank Asset Management among its anchor investors. These two IPOs are seen as paving the way for more tech startups to consider a listing on the local bourse.

Source: Deal Street Asia

Writer: Aastha Maheshwari

Bekraf & Ideosource will Launch Ideosource Film Fund (IFF) To Finance The Indonesian Film Industry

0

Jakarta, October 27th 2017 – As stated by MPAA, Indonesia ranked 15th in the top 20 International Box Office market, after Spain and the Netherlands. The Indonesia Film Industry has generated over $300 Million of revenues for Hollywood.

Top 20 International Office Markets
1
Source: MPAA, Ideosource

Indonesian film has hit its stride with a number of local films widely received an audience acceptance and financial success, including Warkop DKI Reborn, Cek Toko Sebelah, Ada Apa Dengan Cinta 2 and recent Pengabdi Setan. In 2016 alone, from the top 15 movies, Indonesia reached its highest rating of 30 Million viewership.

Top 15 Movies between 2007-2017
2
Source: FilmIndonesia.or.id, Ideosource

BEKRAF (Indonesian Agency for Creative Economy) initiated Akatara – Indonesian Film Financing Forum that is going to be held on November 15th and 16th to connect local movie makers with investors.

“We realized that access to financing is one of the most crucial factors for Indonesian movie industry. We are organizing Akatara to give a chance for filmmakers and match them with investors” as stated by Fadjar Hutomo, Bekraf’s Deputy for Access to Capital.

This program encourages the Ideosource Film Fund (IFF) to take shape. It is a wise move for investors to spread the risk by backing a slate of several films, rather than betting on a single film that may flop.

“Indonesian film production mainly focus on production budget and some producers allocate less budget for the marketing. This is where movie makers will get values from our fund, as a numerous amount of budget will be dedicated to marketing, as well as production” says Andi Boediman, Managing Partner of Ideosource Venture Capital.

The investment would be done across movie industry value chain on an equity basis in each film – Investors will get value from IFF’ ownership of all available revenue rights on each project, as well as investment in the supporting ecosystem including but not limited to IP owners, channel & distribution, marketing, licensing and ticketing companies.

Indonesia Movie Industry Value Chain
3
Source: Ideosource

Brochure is available for download – click here

TuringSense, Wearable Sports Technology Start-up, Raises $3M in Seed Funding

0

Source : Reuters

TuringSense, Wearable Sports Technology Start-up, Raises $3M in Seed Funding
Investors Hail From Angel Plus, China Rock Capital, Ideosource and More

CAMPBELL, CA–(Marketwired – Nov 18, 2015) – TuringSense, a Silicon Valley pioneer of wearable sports technology, announced today that it completed a $3 million round of seed funding. Participating in the round were Angel Plus, ChinaRock Capital, Ideosource, SV Tech Ventures, Zen Water Capital, along with several serial entrepreneurs and angel investors.

“Being able to attract such prestigious investors is recognition of the large market potential of our cutting-edge wearable technology with its innovative multi-sensor, high-speed full-body motion analysis,” said Limin He, co-founder and CEO of TuringSense. “This funding gives us the financial strength to advance our goals of revolutionizing the way sports are played, practiced, and coached by transforming training methods that enable athletes to optimize technique and prevent injuries.”

TuringSense will leverage the funds to aggressively expand R&D, marketing and sales in support of the launch of its first product, PIVOT, the most advanced wearable technology for tennis today. The current funding round will also enable TuringSense to further development of solutions for a wide range of other potential markets such as other sport, physical therapy, insurance compliance, rehabilitation, posture correction and virtual reality/augmented reality and gaming.

“With the current strong growth in the wearables market around the world, we believe the potential for TuringSense’s pioneering technology is unlimited,” said Xitai Sheng, general partner at Angel Plus. “In addition to tennis, which is hugely popular and growing in China, their technology opens up a whole new world of potential target markets not possible with current wearable products — such as golf, healthcare and gaming. And through our smart device incubator, A+Labs, we’ll offer a full package of production service to TuringSense.”

“In our due diligence for this round of funding, TuringSense is a perfect investment for us,” said Jun Li, general partner at China Rock and SV Tech. “We found in TuringSense a team of world-class engineers and top athletes bringing stunning wearable technology to market. We saw the team’s strong passion and background in technology and sports, and believed that tennis was a great beachhead, go-to-market strategy.”

TuringSense is developing wearable technologies using biomechanics, sensors and artificial intelligence (AI) to help athletes learn and master complex movements, avoid injuries and conquer the competition.

The company was founded by serial entrepreneurs and seasoned leaders who are also technologists and advanced athletes. The co-founders are: Dr. Limin He, CEO, a serial entrepreneur and mathematical genius; Chris Lim (aka Taufik Arifin), VP of Product and Marketing, a technologist and advanced taekwondo practitioner; and Dr. Joseph Chamdani, CTO and VP of R&D, a technology system innovator and holder of 46 US patents, and a college level tennis player (level 5.5).

“We see TuringSense’s innovative solution having great potential in the Internet of Things (IoT), remote coaching, healthcare, and industrial services. Especially here in Asia where the sport and health markets are large and growing,” said Andi Boediman, managing partner of Ideosource. “Also, TuringSense’s great initial entrance with its tennis application illuminates the company’s overall vision of expanding to other sports and VR/AR gaming. TuringSense has the capability to tap into the Asian game development community, which has been a substantial driver in supporting gaming companies around the world.”

TuringSense will fully launch and open pre-orders for the product on Kickstarter in December 2015. For updates, please check the company website at www.turingsense.com.

Source : Reuters

Indonesian electronics e-tailer Bhinneka raises $22m from local VC Ideosource, plans IPO

0

source : DealStreetAsia

Bhinneka.com, an Indonesia-based online store and market leader in electronics-related products, has secured an investment of Rp300 billion ($22.06 million) from local VC firm Ideosource.

The company will use the funds to ramp up its marketing efforts, and become a dominant player in more product categories.The round is Ideosource’s largest startup investment to date.

“Bhinneka has a strong and reputable brand in Indonesia as an O2O (online-to-offline) firm for 3C (Computer/IT, Communication, and Consumer Electronics) whereby they have their online as well as offline stores,” says Ideosource Managing Partner Andi S. Boediman in a press statement.

Bhinneka CEO Hendrik Tio adding, “I’ve known Andi for more than 15 years, and we think we have a lot of chemistry between us. On top of that, Ideosource brings a lot of value to the table apart from just money. They also bring a lot of technology expertise, network, capital, and talents that we can now tap into.”

Following the investment, Boediman and fellow Ideosource Managing Partner Edward Ismawan Chamdani will join Bhinneka as C level personnel in marketing and business development.

Betti Alisjahbana (former President Director at IBM Indonesia), Christian Van Schoote (former Director at Central Retail Corporation and MAP Indonesia), and Heriyadi Janwar (former Senior Product Marketing Manager at Microsoft) also joined Bhinneka as Chairman, COO, and VP respectively.

The company said, these top talents would undoubtedly bring Bhinneka closer to its grand vision to become the first e-commerce company to go IPO in Indonesia.

Based on data by Germany-based statistics portal Statista, Indonesia’s total retail sales in 2014 was worth around $411.29 billion, of which over 99% were offline sales.

“Indonesia has an under-penetrated offline retail market. The lack of offline penetration means that there is a huge potential void for the online channel to fill. And the best way to introduce the shopping behavior is through O2O, or combination between offline and online experience,” says Boediman.

Currently, Bhineka has offices in Jakarta, Surabaya, Medan, Makassar, and Bandung. Bhinneka also has its own service centres.

To date, Bhinneka is one of the few Indonesian e-commerce firms to implement a profitable and sustainable business model. Despite raising funds from Ideosource, Bhinneka won’t undergo the cash burning methodology.

The e-commerce market has grown to become one of the hottest business landscapes in Indonesia, with many new players cropping up in the country, both local and foreign. According to US-based research firm eMarketer, there were an estimated $2.6 billion in online retail sales in Indonesia during 2014.

Indonesia’s e-commerce ecosystem could evolve at a pace similar to India and reach $4.49 billion by 2017.

“Currently, the market is being built based on marketing and subsidised processes, which is making the margin for error very slim. So we have to be very smart in doing marketing activities.” Hendrik said.

He added, Bhinneka will focus its development in mobile and social media. Information such as new online stores, product reviews, attractive deals will be available through its mobile and social media initiatives.

Source : DealStreetAsia

Indonesia’s Stockbit raises seed round from Ideosource

0

Source : e27

“The Indonesian stock market, as with most emerging markets, is inefficient. This is partly due to the lack of available data and easy-to-access technology,” said Wellson Lo, Co-Founder and CEO of Stockbit.

“We believe by having an analytics platform online, coupled with quality data, it will help empower the market through better collaborative analysis,” he stated.

Founded by Lo and his football friend Johny Susanto, Stockbit uses advanced analytics tools that allow traders and investors make informed decisions on the Indonesia Stock Exchange (IDX). Users can store all their analysis in the cloud and make professional investment decisions from anywhere.

It also provides options such as institutional quality financial data, a sophisticated stock screener, and professional charting tools with real-time price and custom indicators.

The app even includes a social networking platform for traders and investors to share analysis and discuss news in real-time, building a sense of community and connectivity between users.

“I found that the information gap between the retail investors and the institution is very big,” recalled Lo, who was a full-time trader after quitting his job in KPMG Singapore.

“Hence, we think a social network will help facilitate better connection… people, news, and reports are aggregated into one place and automatically tagged into each company’s page for easy research,” he said.

Tapping into the market

Stockbit monetises through the freemium subscription model, with premium features that are comparable to Bloomberg Terminal, but at a fraction of the cost. Currently, almost 10 per cent of total registered retail investors in Indonesia are Stockbit users, with an average duration of eight minutes per visit. The startup is recording a 15 per cent month-to-month organic growth in unique users.

The effort to tap into a rather niche but promising market received praise from Andrias Ekoyuono, VP of Business Development of Ideosource.

“We find Stockbit interesting because it provides a level playing field between institutional and retail investors in Indonesia,” he said.

“The team is tackling a very interesting market poised for huge growth, as the Indonesia Financial Services Authority wants to attract five million retail investors by 2017,” he added.

The two Founders, who met as students in Melbourne, had to bootstrap before they finally caught Ideosource’s attention.

“Both o-founders have a good understanding about the real problems hindering the local retail investment sector, and they can create the necessary technology to tackle that. Armed with Ideosource’s experience in the consumer Internet space, we believe Stockbit can continue to grow,” Ekoyuono explained.

Apart from boosting up marketing and hiring efforts, Stockbit also plans to launch Android and iOS mobile apps. The startup will also provide brokerage services that enable users to trade directly from the platform.

Article source

Indonesian IoT startup eFishery gets pre-Series A funding from Aqua­spark, Ideosource

0

Source : DealStreetAsia

Indonesia based eFishery, a smart fish feeder manufacturer, has received an undisclosed funding in a pre­-series A round led by Aqua­spark, a Utrecht (the Netherlands) ­based aquaculture investment fund, and Indonesian venture capital firm Ideosource.

As an Internet of Things (IoT) startup for fish and shrimp farming, the Indonesian firm is tackling one of the largest challenges in commercial aquaculture: feeding operations.

The investment amount will be used to broaden eFishery’s distribution network on the domestic front – it will engage distributors, find local partners, and expand its market share aggressively in Indonesia. Meanwhile it will also ramp up its hiring efforts, the company said in a statement.

Traditionally, fish feed forms between 50 per cent to 80 per cent of the fish farming overhead costs. Overfeeding negatively impacts the environment in many ways, as a great deal of fish food ultimately goes to waste. It also harms the health of a farmer’s stock. Underfeeding means fish may not survive.

The result of unmeasured and inexact fish feeding methods on a commercial scale inevitably means economic losses for farmers.

eFishery tackles this through an affordable, tech­based solution – in the form of an automatic smart feeder that uses sensors to measure fish appetite and appropriate feed amounts.

Designed for both small and large­scale farmers, the system can sense appetites, automatically distribute feed, and give real­time reports of consumption on the farmer’s smartphone.“The problem that we are solving is the inefficiency of feeding in the fish farming business,” explains eFishery Co­Founder and CEO Gibran Chuzaefah Amsi El Farizy.

“I saw the problem when I was a fish farmer myself. Fish feeding is done inefficiently by laborers, and farmers don’t have any technology to control the feeding yet. We built this product to make the fish and shrimp farming business more efficient, convenient, and accountable,” El Farizy added.

The firm earns revenue from selling smart feeders to farmers and distributors. It also charges a monthly subscription fee for the software used to monitor and analyze the fish feeding activities in real­time via tablet or smartphone.

On average, eFishery’s smart feeding system reduces the amount of feed used by 21 per cent. So far, eFishery has sold hundreds of units in the past two years.

The startup currently has over 17,000 fish and shrimp farms in its pipeline, which include orders from Thailand, Singapore, India, China, Brazil, and countries in Africa. “We are very excited to solve the global challenge of fish feeding with eFishery,” says Amy Novogratz, partner, Aqua­spark.

“Indonesia has about 3.3 million fishponds and 2.7 million fish farms. When brought to scale, it could have a massive impact across a global industry plagued by this challenge. It has the potential to set a new standard for aquaculture and make the industry more transparent, data­driven, and accountable – all factors that will make businesses in this sector more investment­friendly.”

“eFishery is a perfect example of a company that is solving real problems in a lucrative market,” says Andrias Ekoyuono, VP of business development at Ideosource.

According to the Food and Agriculture Organization (FAO), more than 96 per cent of fish farming activities worldwide is concentrated in Asia. In Indonesia alone, the overall market size for aquaculture is $5.4 billion.

eFishery will join Aqua­spark’s large network of experts, organisations, institutions, and portfolio companies working together in the global aquaculture industry.

Combined with Ideosource’s expertise in Indonesia’s technology landscape, the two firms will be able to support eFishery’s long­ term vision.

Currently, eFishery’s products are only available in Java, Bali, and Sumatra. The firm will also implement a rental model in which farmers can rent eFishery’s products and pay for it monthly, or even make payment after harvesting times.

In this way, small­scale farmers may find it easier to adopt eFishery’s tech. eFishery will soon develop its software­side platform, create a better dashboard for customers, and add more features and fish compatibility for the device.

In order to do that, the company will hire the best talent both on the tech side (software and hardware) and aquaculture side.

Previously, eFishery won multiple awards including Get in The Ring 2014 and the Indonesia ICT Award 2013. With this announcement, eFishery has become one of the nation’s first IoT startups to receive VC investment.

Article source

Indonesian fashion ecommerce site 8wood pulls seed funding

0

by: TechInAsia

8wood, a fashion ecommerce site for women in Indonesia, announced today that it raised an undisclosed amount of seed funding from local venture capital firm Ideosource. The startup will use the newly-acquired capital for recruitment, marketing, and product development.

“We are looking for investors that are able to give mentorship as well as partners to exchange thoughts and views. We believe that Ideosource is the perfect partner and we are happy to be joining forces with them,” says Alvin Yodhapatria, co-founder and CEO of 8wood.

Yodhapatria started 8wood, which works on a a business-to-consumer model, in late 2013 with his wife, Alice Norin. Prior to building the site, Yodhapatria was a DJ and an event organizer. Norin, on the other hand, is an Indonesian actress, having appeared in several films and television shows. According to 8wood, the pair built 8wood to serve a young, dynamic, and independent demographic of women in Indonesia.

Read More