Participated · Series B · Jul 2023

Airalo operates a global eSIM marketplace serving over 20 million travelers across 200+ destinations. The company sells eSIM data bundles for short trips and longer stays and plans to introduce dedicated data, text, and voice packages in select markets. Airalo is rolling out an improved in‑app experience across web, iOS, and Android and expanding its product lineup with new plan options. It is also scaling its enterprise platform, Airalo for Business, to help companies manage global connectivity and reduce roaming costs by up to 90%. For partners, Airalo offers White Label eSIM stores, API integrations, reseller tools, and voucher programs to enable branded and integrated connectivity solutions. These initiatives position Airalo as infrastructure for mobile-first businesses and travel connectivity. Airalo operates a software-based eSIM marketplace offering hundreds of granular mobile data packages for international travel. The company offers 689 combinations covering about 200 countries, service durations and data sizes, and reports 5.1 million customers. Airalo says it has seen 20% month-on-month revenue growth and nearly 1 million downloads monthly for the past three months. It builds its catalog through a network of carrier agreements, mixing wholesale capacity purchases and resold roaming plans, and uses technology to measure demand and pricing. After stalling during the pandemic, growth picked up in 2022 and the company is expanding offerings beyond retail data, including a new B2B product called Airalo Partners. Airalo operates an online eSIM store that lets travelers buy and install local and global eSIMs within minutes via QR codes or in-app delivery. The service aggregates eSIMs from telcos and already offers access to over 100 eSIMs and coverage in 113 countries. Devices can hold up to 50 eSIM profiles and Airalo reported customers from 40 countries connecting in 67 countries shortly after a soft launch. The company is preparing Android and iOS apps while using its website for purchases and supports payments via PayPal, credit card and an in-app currency called Airmoney. Airalo is pursuing partnerships with carriers (examples: Telenor, 3, KPN), OTAs and airlines, and plans video ad campaigns to raise awareness and drive adoption. Financially, the team (described in the article as consisting of 8 teams) has raised initial capital and a seed round and is focused on using funds for customer acquisition, growth and scaling.

Led · Series B · Dec 2022

Paper.id provides a SaaS platform for invoicing, accounting and inventory management that enables entrepreneurs to create and send invoices, manage order-to-pay processes, and generate reports with digital payments integrations. The product also includes supply-chain analysis driven by graph node analysis and machine learning to streamline workflows. It targets Indonesian small and midsize enterprises that remain heavily dependent on manual methods. Founded in 2016 and based in Jakarta, Paper.id aims to digitize millions of Indonesian SMEs. In December 2022 the company raised $12 million in a Series B to grow its product and expand reach. Investors in the round included Go-Ventures, Skystar Capital, Living Lab Ventures (Sinar Mas Land), BM Capital, and Redbadge Pacific.

Participated · Equity · Jul 2022

KitaBeli operates a direct-to-consumer social commerce app combined with a distributed warehouse network to serve Tier 2 and Tier 3 Indonesian cities. The company focuses on fast-moving consumer goods and enables same-day or next-day delivery by opening small warehouses in each city it serves. It procures products directly from brands and principals to lower prices and uses social features — neighborhood agents called Mitras, referrals and group buys — to build trust and drive adoption. KitaBeli says it has grown more than 10x in six months, claims to be the largest direct-to-consumer social commerce platform in Indonesia, and now employs more than 400 people. Typical orders are $5–$10 and group buys usually include five to 25 people. The company plans to expand into more small cities and add new categories such as beauty, personal care and mother-and-baby products. KitaBeli operates a social commerce app that lets buyers place orders directly and participate in group deals for lower prices, focusing on fresh produce and fast-moving consumer goods. Launched in March 2020 in Jakarta, it later expanded to Solo and Malang and targets users in tier 2–4 cities and rural areas. The app is designed to be lightweight (6MB) and approachable for first-time online shoppers and those with older phones or slower connections. KitaBeli says it has grown 80% month-over-month since launch, records a cost-per-install of about $0.10, and reports average user spend of roughly $70 per month. It does not use a reseller network; instead it works with delivery partners for last-mile logistics. The company plans to expand operations across Java, grow its logistics network, develop its mobile app further, and add new categories such as beauty, fashion, and accessories.

Led · Seed · Jul 2022

Juragan Material operates a B2B marketplace that aggregates building materials from curated suppliers to simplify procurement for contractors and project owners. The platform lists more than 9,000 products across over 180 brands, spanning structural, architectural, mechanical and electrical categories. The startup was founded in 2021 to address cumbersome, phone- and text-based procurement, untracked deliveries, and slow offline payment and invoicing processes that raise working capital costs. Its product helps users source materials more quickly and reduces risks of overstock or supply mismatch. The company plans to use new capital to hire, grow market share, enhance its platform and launch additional features, and scale customer and vendor acquisition. Juragan Material also intends to improve supporting infrastructure, particularly financing and logistics, to better track deliveries and streamline payments.

Participated · Series A · Jun 2022

KitaLulus operates a jobs platform serving Indonesia. The company connects job seekers and employers through its online platform. It is based in Indonesia. According to regulatory filings, KitaLulus has secured $8.15 million in a Series A financing. The company had announced the round previously without disclosing the amount. Investors in the round include Tiger Global, Rocketship.vc, Go-Ventures, Indogen Capital, Goodwater Capital and FEBE Ventures.