These 10 Indonesian Startups Secured the Largest Funding in Q1 2024

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Viva Budy Kusnandar 08/11/2024 17:35 WIB

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Indonesian startup Akulaku secured US$100 million in funding, or approximately Rp1.5 trillion, in the first quarter of 2024.

Top 10 Indonesian Startups with the Largest Funding (Q1 2024)

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Top 10 Indonesian Startups with the Largest Funding (Q1 2024)

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A report from Daily Social, *Indonesia Startup Funding Report Q1 2024*, states that Akulaku, a startup company, secured US$100 million in debt funding. This amounts to approximately Rp1.5 trillion (using an exchange rate of Rp15,000 per US dollar).

Akulaku's funding was the largest among other startups during January-March 2024, as shown in the graph.

The next largest funding rounds were received by Qoala (US$45 million, Series C), Awan Tunai (US$27.5 million, Series B), Fairbanc (US$23.3 million, debt funding), and Wagely (US$23 million, Series B).

Other significant funding rounds included Swap (US$22 million, Series A), Sun Energy (US$21 million, debt funding), Rukita (US$15 million, Series B), Investree (US$7 million, venture round), and Alodokter (US$5.2 million, venture round).

The total of the top 10 funding rounds in Q1 2024 reached US$310 million, equivalent to Rp4.34 trillion. This figure represents 93% of the total investment value during the first three months of the year.

According to the report, startup funding in Indonesia increased by 14.6% to US$310 million in Q1 2024 from US$270.38 million in Q1 2023. This increase is attributed to several factors, including:

* The IMF projects global economic growth of 3.5%, higher than the previous year's 2.9%.
* Increased investor confidence, with Southeast Asian venture capital activity increasing by 20%.
* The emergence of technological innovations such as artificial intelligence (AI) and green technologies.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."