Danantara’s new leader takes charge 💪 '24 Indo funding dips to lowest level since '21 📉
Dear Subscribers,
Last week might not have delivered earth-shattering headlines, but it did bring some crucial updates for those of you active in the global startup ecosystem. Notably, today marks the inauguration of Danantara by President Prabowo Subianto, with a promising leadership candidate set to steer its future. Moreover, we’re excited to unveil our annual signature report, the Startup Report 2025, packed with key insights into Indonesia’s dynamic startup landscape.
Enjoy this week’s newsletter!
Best regards,
The DailySocial Team
🚨 What’s New in Indonesia's Startup Ecosystem
1. Danantara Inauguration & Leadership Spotlight
Indonesia’s super holding, Danantara, is set to be officially inaugurated today (Feb 24) just a few hours after this post is published by Indonesian President Prabowo Subianto. Among the market rumors, Rosan Roeslani (former head of Indonesian Chamber of Commerce) is rumored to be CEO with Dony Oskaria (former Vice Director Garuda Indonesia) as COO dan Pandu Sjahrir as Chief Investment.
Despite a few blowbacks regarding his previous tenure as a Commissioner at IDX and GOTO, Pandu’s extensive background in corporate governance, investment, and association roles—and a robust network in the digital transformation arena—Pandu appears more than qualified lead investments the newly formed semi-Sovereign Wealth Fund.
2. Seed Funding Success for Nextmedis and Demuzo
Two innovative startups have recently secured seed funding:
Nextmedis, a developer of healthcare management solutions, received an investment round led by East Ventures and Forge Ventures. This funding aims to accelerate the digital transformation of Indonesia’s healthcare sector.
Demuzo, a music monetization platform, raised US$600,000 from angel investors. Demuzo is set to launch a unique investment platform that allows fans to invest in emerging artists in exchange for a share of future streaming royalties.
3. GoTyme Indonesia Launches Merchant Cash Advance (MCA)
GoTyme Indonesia, a part of the digital banking group Tyme, has partnered with Danabijak and Olsera to launch a new Merchant Cash Advance product. Designed to provide rapid, flexible funding for Micro, Small, and Medium Enterprises (MSMEs), this initiative is modeled on successful programs from South Africa, the Philippines, and Vietnam. Eligible businesses using Olsera’s Point of Sale (POS) system can now secure unsecured funding through an application process that takes less than 10 minutes—empowering MSMEs with timely financial support to grow their operations.
👏 What’s Exciting in the Regional Tech Scene
Grab’s Impressive Financial Performance
Grab delivered robust Q4 and full-year 2024 results:
Q4 Revenue: Grew 17% YoY to US$764 million
Full-Year Revenue: Increased 19% YoY to US$2.8 billion
On-Demand GMV: Surged 20% YoY to US$5 billion
Net Profit (Q4): Achieved US$11 million, marking a turnaround to profitability
Adjusted EBITDA (Q4): Hit a record US$97 million (up 173% YoY)
Operating Cash Flow (Year): Reached US$852 million
Growth was led by its Mobility and Deliveries segments, and the financial services division expanded its loan portfolio by 64% YoY. Looking ahead, Grab is forecasting 19-22% revenue growth and a 41-50% increase in Adjusted EBITDA for 2025. However, these positive performance are still below the expected number by the market, sending the shares to tumble.
HKD-Backed Stablecoin Initiative
A strategic collaboration between Standard Chartered, Animoca Brands, and HKT is underway to secure a Hong Kong dollar-backed stablecoin license from the Hong Kong Monetary Authority. By combining Standard Chartered’s banking expertise, Animoca’s Web3 prowess, and HKT’s telecom infrastructure, the joint venture aims to revolutionize both domestic and cross-border payments. Mary Huen, CEO of Standard Chartered Hong Kong, reaffirmed the bank’s dedication to developing secure and efficient digital payment solutions in the region.
Strengthening the Semiconductor Industry in Taiwan and Malaysia
Taiwan: The semiconductor sector hit a record NT$5.32 trillion (US$152.69 billion) in 2024, growing 22.4% YoY. IC manufacturing, driven by TSMC’s record NT$2.89 trillion revenue, led the charge with a 28.4% increase. Projections suggest the industry could exceed NT$6 trillion in 2025, reinforcing Taiwan’s position as a global chip leader.
Malaysia: Benefiting from shifts in global supply chains amid the US-China tech tensions, Malaysia is emerging as a key semiconductor hub. With a current 13% share in the global chip testing and packaging market and a US$5.6 billion National Semiconductor Strategy, Malaysia is poised to attract further foreign direct investment. However, experts advise that diversifying export markets will be critical for sustaining long-term growth.
🚀 What’s Next: Indonesia Startup Report 2025 is Out!
Indonesia Startup Report 2025 – Get the Insights You Need!
Indonesia’s startup ecosystem underwent significant shifts in 2024, with total funding dipping to US$1.1 billion across 125 deals—the lowest level seen since 2021. As investors shift their focus from rapid scaling to profitability, the fintech sector remained dominant, securing US$459.5 million in investments. Additionally, 22 major M&A deals signaled a trend toward consolidation as startups adapted to economic challenges.
Despite this funding slowdown, the ecosystem remains resilient, bolstered by the launch of eight new VC funds that reflect long-term investor confidence in Indonesia’s innovation potential. As we move into 2025, startups are urged to focus on resilience, capital efficiency, and strategic growth. Our Indonesia Startup Report 2025 dives deep into these evolving trends, offering data-driven insights, funding breakdowns, and expert analysis to help you navigate the next wave of opportunities.
Don’t miss out—download the report now and stay ahead of the game! 🚀📊