Participated · Series C · May 2023

Evermos is a social commerce platform that helps local Indonesian brands reach customers via a network of resellers and digital tools. The company builds reseller-facing services including AI-powered tools and a CRM to help resellers better understand and target customers. Evermos says resellers using digital tools generate 18× higher sales than those relying solely on personal networks. The startup plans to expand its reseller network by deepening penetration in Java and expanding into Sumatera to reach Tier 2 and Tier 3 cities. Evermos also focuses on upskilling resellers to use digital advertising and support MSME growth. Founded in November 2018, the company positions itself as a channel to address Indonesia’s logistical and market fragmentation challenges for small businesses. Evermos is a social commerce platform focused on halal products and other items for Muslim customers, enabling people to open online stores without upfront capital. The company provides resellers with online landing pages and in-app training while handling inventory, logistics, and customer support. Brands typically pay a 30% commission on products sold through Evermos, and the company shares most of that with resellers; top resellers earn about $200 per month. Evermos works with more than 500 brands and currently has 100,000 active resellers across over 500 Tier 2 and Tier 3 cities, mostly in Java. The company says its total transaction volume has increased more than 60x over the last two years. Evermos plans to use funding to hire, enhance its recommendation engine and other AI-based technology, and expand into new regions of Indonesia, with a goal of reaching over one million resellers in five years. Evermos operates a social-commerce marketplace for halal and sharia-compliant products across verticals such as fashion, food, and beauty. The platform connects local Islam-oriented brands with resellers and incentivizes individuals to share product links via social media and messaging so resellers can run online businesses with low capital. Founded in November 2018, Evermos now has a network of 20,000 resellers marketing thousands of local products. The company raised $8.25 million in a Series A funding round and plans to use the capital to deepen collaborations with local brands and organizations and to provide additional support to its reseller network. Co-founder and CEO Iqbal Muslimin has said Evermos intends to pursue other opportunities in the sharia economy, including halal travel and sharia-compliant fintech. The company positions itself as an economic driver for the Muslim community and cites supportive Indonesian government regulations for accelerating the sharia economy.

Participated · Series C · Nov 2022

Founded in 2016, PrivyID provides a comprehensive digital trust platform that includes digital identity issuance, legally binding electronic signatures, e-KYC verification, and document management services. The company serves a broad range of sectors such as financial services, healthcare, and education and was the first non-government entity licensed as a Certificate Authority by Indonesia’s Ministry of Communication and Information Technology. PrivyID currently claims more than 30 million verified users, 1,800 enterprise customers, and processes over 40 million digital signatures annually, giving it a market-leading position in the country. Its platform benefits from direct access to Indonesia’s national identity data and facial biometrics, enhancing accuracy and compliance. With fresh capital, PrivyID plans to roll out additional consumer and enterprise products and accelerate overseas expansion, leveraging Indonesia’s rapidly growing digital economy. Management also aims to deepen its role in the country’s digital transformation initiatives while maintaining regulatory leadership.

Participated · Series B · May 2021

TaniHub Group operates a three-unit agritech platform—TaniHub (B2B e-commerce), TaniSupply (logistics and warehousing) and TaniFund (fintech lending)—that connects farmers directly to restaurants, retailers and consumers. The company supports order fulfillment through six warehousing and processing facilities and its own couriers or third-party logistics providers, enabling harvests to be washed, sorted and packed within an hour. TaniFund provides tailored loans to farmers using a credit-scoring system based on three years of performance, agriculture value-chain expertise, partnerships with financial institutions and more than 100 data points per assessment. Founded in 2016, TaniHub says it now works with more than 45,000 farmers and 350,000 buyers and grew revenue 600% year‑over‑year in 2020 as online grocery demand surged. The company has begun exporting fruits and spices to the UAE, Singapore and South Korea but plans to focus expansion within Indonesia, extend coverage beyond Java and Bali, and build upstream and midstream capacity such as new cultivation areas, processing and packing centers and additional warehouses. It also plans to improve supply-demand forecasting to reduce price volatility and explore precision farming technologies. TaniHub Group is an Indonesian agritech startup. The company announced it raised $17 million in a Series A+ round. The fundraise was co-led by Openspace Ventures and Intudo Ventures. The company disclosed the transaction in a statement, according to the article. The article did not provide additional operational metrics, product details, future plans, or financial information beyond the fundraise. TaniGroup operates a B2B sales platform (TaniHub) and a microloan fund (TaniFund) to help more than 25,000 Indonesian farmers access retailers and working capital. The platform has a registered user base of about 400 SMEs and 10,000 consumers; TaniFund is registered with the Financial Services Authority (OJK) and is a member of AFPI. The company says it can help farmers increase overall income by 60% or more, driven by higher sales volumes and prices that are typically 30–40% above traditional reseller channels. Founded in 2016 by Eka Pamitra, TaniGroup is focused on expanding nationwide in Indonesia while noting potential for future overseas expansion after addressing domestic scale. It has already exported orders to markets including Switzerland, Singapore and Malaysia. The startup plans to use new capital for hiring, technology improvements, logistics expansion and warehouse upgrades, and has government support including access to research and a database of some 3 million farmers.