Startup Deals Heat Up 🔥. AI Drugs Take Shape 💊. Housing Crunch Meets Proptech Solutions 🛠️.
Dear subscribers,
We’re back with a fresh roundup of key developments shaping Indonesia’s and Southeast Asia’s startup landscape. This week, we’re spotlighting a mix of funding deals—from cleantech and proptech to marine biotech and construction tech—plus major regulatory shifts in fintech lending.
We also cover Airwallex’s global push, the AI drug race, and a sobering update on Indonesia’s startup ecosystem ranking. Finally, we take a deep dive into the resurging potential of proptech as Indonesia tackles affordability and inclusion in home ownership.
Let’s dive in.
Best regards,
The DailySocial Team
🚨 What’s New
Here’s a snapshot of the latest developments from Indonesia’s startup ecosystem:
Funding Highlights:
(1) Remind, an e-waste management startup based in Banten, secured US$1.3 million in funding led by Bali Investment Club and Beenext, with Spiral Ventures also participating. The capital will help expand its recycling capacity.
(2) Ringkas, a fintech platform that simplifies home ownership, raised US$5.1 million in pre-Series A funding from investors such as Flourish Ventures and Kadan Capital.
(3) ANGIN (Angel Investment Network Indonesia) announced new investments in Arconesia, an agri-tech startup focused on climate-smart farming, and Collabit, a marine biotech startup. These investments were channeled through the WiraUsaha program, backed by Koalisi Ekonomi Membumi (KEM).
(4) Dian Swastatika Sentosa (IDX: DSSA), part of the Sinar Mas Group, invested IDR 32.8 billion (~US$2 million) in local streaming platform Vidio via subsidiary DSST Video Gemilang, as part of a rights issue by Vidio’s parent company SCMA (EMTEK Group).
SVOD subs statistic in 2024 / Doc. Media Partners Asia (5) BRIK, a construction materials and tech startup, closed a Series A round nearing US$10 million led by Jungle Ventures and joined by Accel India, to boost workforce efficiency technologies in construction. [Read more]
MilikiRumah, a proptech startup, launched Rent-To-Own Fund 1, its inaugural US$50 million private equity fund to develop affordable landed housing for underbanked communities in Greater Jakarta. The fund targets a 20% IRR over four years. The pilot phase (worth US$10 million) will develop 95 homes starting from IDR 400 million (~US$25,000) on a 1-hectare site in Tangerang. The rent-to-own scheme—modeled after Singapore’s HDB—requires only a 3.5% down payment and builds consumer creditworthiness over 12 months of rent. [Read more]
In response to allegations of a lending rate cartel by KPPU, Indonesia’s Financial Services Authority (OJK) has formalized interest rate caps through SEOJK No. 19/SEOJK.06/2023. Effective May 20, 2025, fintech lending rates are capped at 0.3%–0.2% per day for consumer loans and 0.275%–0.1% for productive loans, depending on tenor and risk segment. OJK asserts these policies will protect consumers and ensure industry integrity amid rising digital lending penetration. [Read more]
👏 What’s Exciting
Here are some interesting news from the regional startup ecosystem:
Airwallex raised US$300 million in Series F (including US$150 million in secondary sales), bringing its total funding to over US$1.2 billion and valuing the company at US$6.2 billion. Airwallex reported 90% YoY revenue growth as of March 2025, with $130 billion in annual transaction volume.
Airwallex’s expansion plans span the Americas, Europe, MENA, and Asia—including Japan, Korea, and Latin America / Doc. Airwallex AI-powered pharmaceuticals are nearing commercialization. According to Insilico Medicine CEO Alex Zhavoronkov, the first fully AI-developed drug could hit the market by the end of this decade. Insilico, with over 40 active programs, leverages AI across all stages—from target discovery to drug optimization. Takeda is currently in final-stage clinical trials for an AI-developed psoriasis treatment. Insilico operates across the US, China, the Middle East, and Canada and recently refiled for a Hong Kong IPO at a valuation exceeding US$1 billion.
Headline Asia closed its US$145 million Fund V, targeting early-stage tech startups across Japan, Taiwan, Southeast Asia, and selectively Korea. Investment focus includes e-commerce, logistics, fintech, IP, and AI, with check sizes ranging from US$1 million to US$5 million. Despite macroeconomic headwinds, Headline remains optimistic about early-stage valuations.
The 2025 Global Startup Ecosystem Index by StartupBlink shows strong momentum in Southeast Asia, with average ecosystem scores rising 26.7%. Singapore ranks 4th globally, driven by a remarkable 44.91% increase. Conversely, Indonesia dropped 9 places to 45th due to a –10.4% decline, the steepest fall among the top 50. Jakarta slipped three ranks to 30th globally, reflecting one of the slowest city-level growth rates at 5.9%. This underperformance—relative to Malaysia (+14.2%, 44th) and Vietnam (+17.9%, 55th)—signals a need for strategic reforms and ecosystem reinvestment in Indonesia.
Startup ecosystem rank by country / Doc. StartupBlink
🚀 What’s Next: Revisiting the Proptech Opportunity in Indonesia
Indonesia’s real estate market is at a turning point. As of 2025, urbanization is rising fast—about 60% of the population now lives in cities. But owning a home is still out of reach for many. The average home in Indonesia costs 13–16 times a person’s annual income, far above the global affordability benchmark of 3–5 times. On top of that, the country faces a massive housing shortage of more than 15 million homes.
This is where property technology (proptech) could make a big difference.
Over the past few years, Indonesia’s proptech sector has grown across several categories:
Property listing platforms like Pinhome and 99.co help users find homes online.
Co-living and rental management platforms like Rukita and Mamikos offer flexible living options.
Construction tech startups like GoCement, BRIK, and Amoda use technology to reduce costs and delays.
Financing and crowdfunding platforms like Gradana and LandX help more people access funding to buy homes.
While the sector is still early-stage—only 27 out of 144 startups have raised funding—momentum is building. In fact, Indonesia led Southeast Asia in proptech deal volume in 2024.
One of the most exciting developments is how proptech is helping people who can’t get traditional bank mortgages. For example:
Gradana lets buyers pay their home down payment in monthly installments via P2P lending.
Ringkas and IDEAL help match users with mortgage offers from multiple banks online.
CrowdDana and LandX let users invest small amounts into property projects and earn a share of the returns.
Rent-to-own from MilikiRumah schemes allow renters to turn their monthly payments into eventual ownership—ideal for those without formal credit histories.
The Indonesian government has also set an ambitious goal: build 3 million new homes per year. Proptech could play a key role in achieving this target—helping identify where homes are needed most, streamlining the construction process, and ensuring transparency in housing distribution.
Beyond access and scale, proptech is redefining what homeownership means. In the future, people may own just a portion of a home through co-ownership or tokens, or subscribe to flexible housing across cities instead of buying one permanent residence. These models align with younger generations’ lifestyles—and could unlock entirely new markets.
Of course, there are still challenges: digital literacy, regulatory gaps, and uneven access to internet or land data in rural areas. But the public and private sectors are starting to work together. Two state-owned banks even launched a $100 million proptech investment fund in 2024.
In short, proptech is no longer a niche—it's becoming essential. It could help Indonesia close its housing gap, empower underbanked buyers, and modernize a traditionally slow-moving industry. For investors, it’s a high-growth, high-impact opportunity. For Indonesia, it may just be the key to making homeownership a reality for millions.