Eight Indonesian Startups Achieve Unicorn Status in October 2023: Who's on Top?

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Erlina Fury Santika 09/11/2023 19:11 WIB

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CB Insights has released a list of Indonesian startups with unicorn status. J&T is the company with the highest valuation.

Valuation of Indonesian Unicorn Startups (October 2023)

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Valuation of Indonesian Unicorn Startups (October 2023)

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A CB Insights report reveals that eight Indonesian startups achieved unicorn status (valued at over US$1 billion) as of October 2023.

J&T Express holds the highest valuation among Indonesian unicorns, reaching US$20 billion as of October 19, 2023. This valuation also grants it decacorn status (valued at over US$10 billion), making it the only Indonesian startup to achieve this. Its investors include Hillhouse Capital Management, Boyu Capital, and Sequoia Capital China.

Traveloka follows in second place with a US$3 billion valuation. Its investors include Global Founders Capital, East Ventures, and Expedia Inc.

Akulaku takes third place, valued at US$2 billion. Investors in this fintech company include DCM Ventures, IDG Capital, and Siam Commercial Bank.

eFishery is in fourth place with a US$1.30 billion valuation. This fishery startup received funding from Aqua-Spark, Wavemaker Partners, and Peak XV Partners.

DANA holds fifth place, valued at US$1.13 billion. This digital finance startup is backed by investors including Ant Group, Lazada, and Sinar Mas Indonesia.

Xendit, Ajaib, and Kopi Kenangan follow with valuations of US$1 billion each.

Globally, there were 1,220 unicorn companies in October 2023, with a total accumulated valuation of US$3,831 billion.

ByteDance, TikTok's parent company, holds the top global position with a valuation of US$225 billion. Beyond unicorn and decacorn status, ByteDance also holds hectocorn status (valued at over US$100 billion).

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."

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Eight Indonesian Startups Achieve Unicorn Status in October 2023: Who's on Top?

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Eight Indonesian Startups Achieve Unicorn Status in October 2023: Who's on Top?

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