Golden Gate Ventures has announced today that it is investing over US$4 million in six startups – ranging from Indonesia to Thailand. These new investments continue Golden Gate Ventures’ record of investing in e-commerce, marketplaces, and mobile services, with a strong focus on Indonesia.
”The timing is now. There’s a new government in place, and the GDP growth shows no signs of stopping any time soon. Indonesia is brimming with smart, hungry, and eager change makers all over the country, not only in Jakarta,” said Founding Partner Jeffrey Paine.
Launched in 2011, the early-stage venture capital firm has invested in over 30 companies across more than seven countries in Asia. To date, their portfolio has raised over US$150 million in the region. The firm invests in Internet and mobile startups across many sectors, including e-commerce, payments, marketplaces, mobile applications, and SaaS platforms. Its recent investments include HipVan, Omise and Laku6.
Here are the six startups that have joined Golden GateVenture’s portfolio, categorised by country:
Claim Di facilitates communication between drivers and their insurance companies via an app. Founded by CEO Kittinan Anupha – who has had 20 years experience in the tech startup, mobile application and insurance industry – this startup has received seed funding from 500 Startups, Golden Gate Ventures, and other angel investors.
Launched in 2012, Stamp enables secure third-party authentication and verification on mobile devices directly through its Secure Touch digital fingerprint sensor, similar to the Apple Touch ID. Founded by CEO Opas Lopansri, this startup has received funding from investors including Golden Gate Ventures and Altpoint Ventures.
Established in 2002 by CEO Ron Ramanan, GoQuo provides e-commerce solutions to leading airlines and online travel agencies (OTAs). It aims to help clients’ increase their ancillary revenue through technologies through machine learning and predictive analytics, which would optimise shopping recommendations to the clients’ customers for example. Its clients include Tigerair, Malaysian Airlines and Bangkok Airways.
Launched in July 2014 by Founder Nathanael Faibis – who previously worked at Lazada and Rocket Internet – Alodokter is an online health information portal that connects doctors with Indonesians. It claims to experience more than a million unique visitors each month. It has received seed funding from global investors including Fenox Venture Capital, 500 Startups, Lim Der Shing, and Golden Gate Ventures.
Ruma is a for-profit social enterprise that aims to build sustainable, self-sufficient communities. To achieve this, Ruma intents to help Indonesians living below the US$2.50 per day poverty line become entrepreneurs. At the start of 2015, Ruma received funding from Golden Gate Ventures, Unitus Impact, and Omidyar Network.
Founded in 2012 by CEO Handy Chang, Indotrading is Indonesia’s leading online B2B marketplace. It helps merchants gain an online presence by promotion on its site, or setting up e-commerce portals with customised domain names. It raised an undisclosed seed funding and a US$1.5 million Series A funding from investors OPT SEA, Golden Gate Ventures, GMO Venture Partners, Convergence Ventures, Aucfan, and Rebright Partners.
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