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11 Top Startups in Indonesia (2024)

Are you interested in seeing some of the most promising startups coming out of Indonesia? With its rapidly growing economy, and favorable regulations for entrepreneurs, many exciting businesses are emerging from this Southeast Asian country. Whether you’re looking to invest or just stay informed about innovative new startup ideas that could be the next big hit, we’ve put together a comprehensive list of the top startups in Indonesia. We’ll cover a wide range of startups such as e-commerce platforms, food delivery services, and healthcare tech platforms.

Indonesia's startup ecosystem is ranked second in the Southeast Asian region. - Source: StartupBlink
Top Startups in Indonesia

Top Startups in Indonesia (2024 - List)

Here are some of the top startups in Indonesia:

1. Halodoc

Founders: Doddy Lukito, Jonathan Sudharta

Total Funding Amount: $245M

Founded Year: 2016

This cutting-edge health-tech platform is revolutionizing the way patients access healthcare services by providing a one-stop shop for all their needs. Halodoc connects users with doctors, insurance providers, labs, and pharmacies, making healthcare more accessible and convenient than ever before. With Halodoc, patients can schedule appointments, consult with doctors, order medication, and even get lab results from the comfort of their own homes.

2. Tokopedia

Founders: Herman Widjaja, Leontinus Alpha Edison, William Tanuwijaya

Total Funding Amount: $2.8B

Founded Year: 2009

Tokopedia provides a C2C platform, allowing buyers and merchants to engage in a streamlined and user-friendly business process. What's unique about Tokopedia is that it's not just any ordinary e-commerce platform; it's a marketplace for small, independent retailers who otherwise would not have access to a wider audience. This creates a sense of community within the platform, where buyers can shop for locally sourced products that are often unique and handmade.

Indonesia has a thriving startup ecosystem, with over 2,400 startups as of 2022. - Source: SEADS

3. Xendit

Founders: Bo Chen, Tessa Wijaya

Total Funding Amount: $534.7M

Founded Year: 2014

Xendit offers comprehensive digital payment solutions for a range of businesses, from small and medium-sized enterprises to large-scale startups. Xendit's products are designed to take the hassle out of payments, making it easier and more streamlined for businesses of all sizes to transact with their customers.

4. eFishery

Founders: Chrisna Aditya, Gibran El Farizy, Muhammad Ihsan Akhirulsyah

Total Funding Amount: $342.9M

Founded Year: 2013

In a country where aquaculture is a vital industry, the need for technological innovation is ever-growing. eFishery, an ag-tech startup in Indonesia, is leading the way in bringing smart feeding solutions to the fish and shrimp farming industry. Their integrated feeding systems not only monitor and control the amount of feed dispersed but also adjust the nutrition content based on the specific needs of the aquatic animals.

5. KoinWorks

Founders: Benedicto Haryono, Willy Arifin

Total Funding Amount: $180.1M

Founded Year: 2015

KoinWorks is a super financial app that has successfully provided both investment and liability products to its customers under a single platform. KoinWorks has made it easier for people to manage their finances by offering financial products that cater to their needs.

6. Ula

Founders: Alan Wong, Derry Sakti, Riky Tenggara

Total Funding Amount: $140.5M

Founded Year: 2020

Ula is a wholesale e-commerce marketplace that aims to make life easier for small business owners by providing them with working capital and inventory sourcing. Founded with the goal of helping local entrepreneurs realize their dreams, Ula has quickly become a trusted partner for many Indonesian businesses, providing a platform for growth and innovation that is both reliable and affordable.

Jakarta, the capital of Indonesia, is a leading startup hub in the region. The city is home to over 480 startups and is ranked 32nd for its startup environment in 2022. Other top Indonesian cities for startups include Bandung, Surabaya, Medan, and Yogyakarta. - Source: Statista

7. Kopi Kenangan

Founders: Edward Tirtanata, James Prananto

Total Funding Amount: $333M

Founded Year: 2017

Kopi Kenangan has been making waves in Indonesia's coffee industry as the fastest-growing coffee chain. What sets it apart from others is its innovative strategy of using technology to offer a grab-and-go experience. This approach has proven to be a hit with busy commuters who want to enjoy quality coffee on the go without sacrificing taste. With its carefully crafted blends and flavors, Kopi Kenangan is becoming the go-to destination for coffee lovers across the country.

8. Ralali

Founders: Joseph Aditya

Total Funding Amount: $35.4M

Founded Year: 2013

This online B2B marketplace for local trade connects sellers and buyers, creating a seamless platform for businesses to conduct transactions. With an emphasis on efficiency, transparency, and trust, Ralali is quickly becoming a go-to destination for companies looking to expand their reach and grow their business.

9. Evermos

Founders: Ananda Prawira, Arip Tirta, Ghufron Mustaqim, Iqbal Muslimin, Jauhari Khairul Kawistara

Total Funding Amount: $77.3M

Founded Year: 2018

Evermos is an innovative social commerce startup that has emerged in Indonesia. This platform connects resellers-to-brands to consumers, allowing them to sell halal products. Evermos has created a unique way to reach consumers throughout Indonesia that is both efficient and effective.

Indonesia's startup ecosystem is best represented in the transportation, ecommerce & retail, and foodtech sectors. - Source: StartupBlink

10. AwanTunai

Founders: Dino Setiawan, Rama Notowidigdo, Windy Natriavi

Total Funding Amount: $89M

Founded Year: 2017

With its innovative business SaaS solutions and embedded financing for inventory, AwanTunai is operating at the cutting edge of industry transformation. By digitizing traditional offline processes, this startup is making it easier for businesses to manage their inventory and streamline their operations. With AwanTunai in the picture, Indonesian businesses can now access advanced supply chain solutions that can help them grow and succeed in the modern marketplace.

11. Beleaf

Founders: Amrit Lakhiani

Total Funding Amount: $8.9M

Founded Year: 2019

With its focus on supporting partner farms with high-quality inputs, best practices, agronomy guidance, tech support, sales, and marketing, Beleaf is ensuring that farms optimize their products and attain the best possible quality, yield, and value consistently. By partnering with specially selected partner farms, Beleaf is empowering farmers to harness the power of technology to improve their yields and take their farming businesses to the next level.

Most Asked Questions

1. Is Indonesia good for startups in 2024?

With its vast potential and strategic location, Indonesia presents a unique opportunity for startups. The country has a growing middle class, an increasing number of high-net-worth individuals, a young and tech-savvy population, and a thriving startup ecosystem. Indonesia's government has also been very supportive of startups, with policies aimed at providing tax incentives and funding to new businesses. Despite some challenges, such as limited access to funding and infrastructure, startups in Indonesia are gaining traction and making their mark.

The Indonesian government has launched a number of initiatives to support the startup ecosystem, including Gerakan Nasional 1000 Startup Digital (GNSD), Startup Studio Indonesia (SSI), and the HUB.ID platform. These initiatives provide early-stage startups with access to funding, mentorship, and other resources to help them develop their prototypes and reach product-market readiness.

2. What are the most successful startups in Indonesia?

Indonesia's startup scene has exploded in recent years, with innovative companies shaking up traditional industries. Many companies have made a splash, but a few have truly stood out. Halodoc, for instance, has revolutionized healthcare, providing users with online consultations, medicine delivery, and more. Similarly, Tokopedia has transformed the way Indonesians shop with its user-friendly e-commerce platform. And Xendit is making a name for itself as a leading fintech company, simplifying online payments and money transfers.

3. What are the advantages of starting a business in Indonesia?

Firstly, Indonesia enjoys a large population, which means there is a growing domestic market for businesses to tap into. Secondly, the country has abundant natural resources, which can offer promising opportunities for new businesses, especially those in the mining or agriculture sectors. Along with this, the government has taken initiatives to improve its investment climate, making it easier to start and operate a business. Additionally, Indonesia has a relatively lower cost of living, making it an affordable location to start a business and maintain operations. Last but not least, Indonesia’s strategic location provides easy access to the Asian market, making it an excellent hub for businesses to expand and grow. All these factors make Indonesia an ideal country for starting a business.

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