🪙Indonesia’s First Crypto IPO. 🏛️ AI & Blockchain Policy Boost. 📈 IFC Bets Big on Southeast Asia.
Dear subscribers,
We’re back with the latest updates from Indonesia’s dynamic startup and tech ecosystem. This week’s edition brings you a sharp look into Indonesia’s evolving digital and startup landscape. From new venture deals and leadership shifts to a landmark crypto IPO and breakthrough policy reforms—momentum is building across finance, climate tech, and digital infrastructure.
We’re also tracking how global capital, including IFC’s latest commitments, is shaping Southeast Asia’s future in sustainable development and distressed asset recovery.
Let’s dive in.
Best regards,
DailySocial Team
🚨 What’s New
#1 Indokripto to Launch Indonesia’s First Crypto-Related IPO
Indokripto Koin Semesta, the parent of Indonesia’s regulated crypto exchange CFX, is set to raise up to US$14 million (Rp 231 billion) in what will be the country’s first crypto-related IPO. Trading under the ticker COIN, the company will offer 2.2 billion shares at Rp 100–105 each, with listing set for July 9, 2025. Around 85% of the proceeds will go to CFX, and the rest to its licensed crypto custodian unit ICC. [Read More]
#1 Funding Highlights from Indonesia's Startup Ecosystem
Monit raised US$2.5 million in seed funding led by Cento Ventures to enhance its AI-driven finance platform, expand its team, and grow across Southeast Asia. Since 2022, it has processed over US$200 million in transactions and grown revenue 5x, addressing gaps in Indonesia’s fragmented corporate finance landscape. [Read More]
GreenTeams, an Indonesian climate tech startup, raised US$2 million in Series A funding led by Oriza Greenwillow Technology Fund. The capital will fuel expansion of its AI-powered monitoring platform and wider adoption of its CEMS and AQMS systems, now active in over 30 provinces. [Read More]
Circulate Capital invested in two Indonesian plastic recyclers, Pelita Mekar Semesta (PMS) and Polindo Utama. PMS will triple its polyolefin pellet output, while Polindo expands its PET and plastic processing capacity. Together, they aim to handle 320,000 tons of plastic waste and support over 10,000 workers by 2030—strengthening Indonesia’s role in the global circular economy. [Read More]
#2 Halodoc Maintains Growth Momentum Post-Pandemic
Halodoc is expanding beyond curative care into prevention and B2B services, including TPA and Digital Claim Operations. As of mid-2025, it serves 20 million monthly users and has raised over US$250 million. With Indonesia’s digital health market projected at US$2.64 billion this year, Halodoc is scaling services like Haloskin, Halofit, and Halodoc Academy, while strengthening data security to boost user and regulator trust. [Read More]
#3 Indonesia Considers Ride-Hailing Fare Increase
The Indonesian government is reviewing a proposed 8–15% fare hike for online motorcycle taxis (ojol), following driver concerns over low earnings and high platform commissions. The plan is in its final review, with input from drivers and platforms like Gojek, Grab, and Maxim. While platforms support better driver pay, they caution against demand impacts—Maxim noted previous fare hikes caused up to 50% drops. A commission cap at 10% is also under consideration, down from 20%. [Read More]
Startup Leadership Updates
Budi Handoko, Co-Founder and former COO of logistics startup Shipper, officially stepped down as of April 30, 2025. He announced the move via LinkedIn on July 2, citing a desire to focus on personal projects, including building a content platform on health, business, family, and travel.
Ridzki Kramadibrata, former Managing Director of Grab Indonesia, has transitioned into entrepreneurship, launching three ventures focused on climate tech and AI:
Planet Carbon, which produces biochar to support net-zero goals and soil regeneration.
carbonZAP, using AI to optimize food operations and reduce waste.
Do Good Things Tech Institute, fostering collaboration on climate action and social impact.
His shift underscores a growing movement among tech leaders toward scalable climate innovation.
👏 What’s Exciting
#1 IFC Scales Up Sustainable and Distressed Asset Investment in Southeast Asia
The International Finance Corporation (IFC) announced two major investment initiatives last week:
Up to US$60 million in equity for the Asia Environmental and Social Infrastructure Fund (AESI), managed by AEW and Natixis Investment Managers. Targeting a US$500 million fund size, the initiative will finance sustainable infrastructure across East Asia Pacific and South Asia, with at least 50% allocated to renewables. It includes robust E&S governance aligned with IFC standards and excludes coal or high-risk projects. IFC expects to catalyze up to 4x additional capital from global financial institutions.
Up to US$150 million in equity into a special situations fund managed by Ares Asia (a unit of Ares Management Corporation). The fund will focus on distressed assets and credit in Indonesia, India, Malaysia, the Philippines, Thailand, and Vietnam — aiming to improve access to finance and competition in distressed sectors. The project is classified as FI-1 (moderate to high E&S risk) but comes with a structured ESG management framework overseen by dedicated teams and independent partners.
#2 Kahoot! Expands into Southeast Asia
Norwegian edtech platform Kahoot! has launched its new APAC headquarters in Singapore, positioning itself to meet rising demand for interactive learning solutions in education and corporate settings. In a launch event on July 1, 2025, VP of Commercial APAC Ahteram Uddin highlighted Singapore’s focus on lifelong learning and digital transformation as key factors behind the move, noting collaboration potential with initiatives like SkillsFuture.
#3 NTT Plans Data Center REIT IPO in Singapore
Japanese telecom firm NTT is aiming to raise approximately US$864 million via an IPO of its data center REIT on the Singapore Exchange. The REIT comprises six assets across the US, Austria, and Singapore. The base offering ranges from US$772 million to US$812 million, with an additional US$51.5 million overallotment option. If fully exercised, NTT would retain a 20% stake, with the total market cap expected to hit US$1.08 billion. Bookbuilding ends July 4, with listing scheduled for July 14.
🚀 What’s Next: Indonesia Greenlights Emerging Tech Sectors with New Business Licensing Reform
The Indonesian government has enacted Government Regulation (PP) No. 28/2025, a major update to its risk-based business licensing framework via the OSS-RBA (Online Single Submission – Risk-Based Approach) system. This regulation formally recognizes emerging tech sectors — including AI, blockchain, digital identity, IoT, and electronic transaction systems — as legitimate business categories eligible for streamlined licensing.
Key highlights:
OSS-RBA is now the sole official platform for business licensing.
Ministries, regional authorities, and zone managers are prohibited from adding extra requirements beyond those specified in the regulation.
All licenses are subject to clear risk-based criteria, service-level deadlines, and the "fiktif-positif" clause — meaning approvals are automatically granted if no response is provided within a set time frame.
For startups and tech operators, this regulation delivers much-needed legal clarity and reduces administrative friction. Each industry now has defined technical standards and risk categories accessible via the OSS system. For micro- and small enterprises (MSEs) in low-risk categories, licenses can be obtained via self-declaration, accelerating go-to-market timelines for early-stage ventures.
Oscar Darmawan, Chairman of INDODAX, welcomed the regulation, calling it a “concrete legal foundation” that strengthens investor confidence and empowers local innovation, especially in blockchain. He urged the government to follow up with a national blockchain roadmap to support long-term development.
In short, PP 28/2025 signals Indonesia’s intent to lead the region in digital innovation, offering a structured, efficient, and investment-friendly environment for founders, investors, and regulators alike.