The Jakarta round of the TOP100 competition closed on Thursday, April 4, with Mussy.co and Yuna & Co being crowned as winners of the Judge’s Choice award.
The two startups are set to get:
- A free exhibition booth space in the TOP100 Zone at Echelon
- A pitching slot on the TOP100 stage on day one of Echelon
- Intimate investor meetings and inclusion to Corporate business matching
- Five starter tickets to Echelon Asia Summit
- Access to the TOP100 Tour in Singapore
Mussy.co is musicians marketplace platform that aims to help customers find and book quality musicians for events, while empowering local musicians at the same time.
Started out in 2017, the platform initially targeted lower class cafes but expanded to middle class markets with lower volume but higher transaction value a year later. Most of its users are in the B2B segment, thought it has also begun to enter the B2C segment.
The service is run through revenue-sharing scheme with 30 per cent of fee going to Mussy.co.
By 2022, the platform aims to develop into becoming its own indie artists management. Before that, it also wants to provide a streaming and online advertising platform for the musicians.
The startup’s milestones include clocking in IDR900 million (US$63,500) transaction value and having 2,500 musicians on the platform. It has also won accolades such as the second winner of Indonesia Startup Insight in Singapore on November 2018 and the top nine list of Startup Turkey Competition in 2018.
It is currently looking for a US$300,000 funding round to reach 238,000 transactions in 2023.
Yuna & Co is a fashion platform that aims to make it easier for customers to find and wear clothing that suits their personal style best, by offering a digital personal stylist service.
The platform works by users entering their style profile on the Yuna & Co platform. Users then choose among the available boxes, with prices ranging from IDR599,000 (US$42) to IDR999,000 (US$70). Once the box is delivered to the user, they get to try the contents on and give feedback to the platform.
By 2020, Yuna & Co aims to have their fashion recommendation service to be run by 80 per cent machine.
The company is currently raising a US$500,000 funding round to build inventory and scale its market reach until December 2019.
In the Indonesian e-commerce sector itself, fashion continues to be the biggest revenue driver with the category taking over more than 25 per cent of total e-commerce revenue. In 2018, total e-commerce revenue in the country has reached US$12 billion, and it is expected to reach US$53 billion by 2025.
In addition to the two startups, the TOP100 competition also named eight other qualifying startups:
- Indexa Law
- Pay OK
- PT Piniship Logistik Indonesia
- PT Spark Integrated Solutions
Congratulations for all the winners and stay tuned for more updates from TOP100 competitions!