ANGIN Secures Seed Funding from 500 Startups and Local Angel Investor
The value is undisclosed, will be used to leverage ANGIN's services and business
Randi Eka - 7 June 2018
ANGIN (Angel Investment Network Indonesia) is officially announced seed round funding from 500 Startups and three national investors: Shinta Kamdani (Sintesa Group CEO), Diono Nurjadin (Cardig International CEO), and Jefrey Joe (Alpha JWC’s Managing Director & Co-Founder). The value is still undisclosed yet the process has been going on since May.
David Soukhasing, Managing Director of ANGIN, explained that this funding will be focused on ANGIN services scale-up in Indonesia. It includes the launching of new feature/service, making improvements for all members of angel investors, and continuing support for startups in Indonesia.
Until recently, ANGIN has accommodated at least 71 angel investors and distributed funding from investors to more than 33 startups within 2 years. ANGIN makes a commitment not only as investment platform but also to have a role in growing entrepreneurship ecosystem in Indonesia through activities and partnerships.
“We’ve been operating ANGIN in bootstrapped since the beginning and our team wants to make a broader impact and reach. We decided to search for an external funding to support expansion,” Soukhasing said.
ANGIN considers the experience of 500 Startups investing globally can provide valuable knowledge in business scale-up.
Since founded in 2013 led by Shinta Kamdani, ANGIN has been growing rapidly. It currently has several services, such as business research, content, technology, and business consultant.
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Original article is in Indonesian, translated by Kristin Siagian
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