Indonesia Digital Deconstructed by AC Ventures

With us today is Ongki Kurniawan, co-founder and CEO of Skor Technologies. Ongki is a seasoned veteran in Indonesia's tech and financial sectors, with senior experience at major companies like XL Axiata, Grab, and Stripe.

Backed early by AC Ventures, Skor Technologies is driving fundamental change with its flagship product, SkorLife. The innovative tool is designed to provide Indonesians with unprecedented, easy access to their credit information—historically a challenge to obtain from local credit bureaus.

SkorLife aims to enhance understanding of peoples’ credit scores, thereby opening up broader access to loans and working capital for its users.

With us today is ⁠Gunawan Woen⁠, the co-founder and CEO of ⁠ESB⁠, a restaurant management SaaS providing an interconnected ERP system, POS software, and online ordering mobile app.

The firm recently launched an AI feature named Olin, which among other things, can accurately forecast restaurant sales with up to 90% accuracy, detect cases of fraud, give geographical consumer price points all around Indonesia, and increase customer spending by up to 40% with menu recommendations.

Gunwawan unpacks how Olin’s data collection mechanisms are also allowing ESB to facilitate loans to F&B outlets nationwide.

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With us today is Martin Reyhan Suryohusodo, co-founder and CEO of Otoklix, the premier platform for automotive aftersales service in Indonesia.

Significant challenges lie ahead as the country navigates its energy transition from gasoline to electric vehicles. Notably, there is a need for widespread infrastructure investment and essential upskilling among the nation’s repair service providers and independent workshops, which make up 80% of the market.

Martin shares how Otoklix is positioning itself to address these issues ahead of the curve, including recent partnerships with regional EV manufacturers to become their official service partner in Indonesia.

Today we’re shining a light on the solar energy sector with Helen Wong, Managing Partner at AC Ventures. Looking through an investor’s lens, Helen breaks down the electrifying surge in renewable energy across the region.

Southeast Asia, blessed with abundant solar resources, is ramping up its sustainability efforts, with solar photovoltaic capacity projected to skyrocket and exceed 100 gigawatts by 2030 in a net-zero scenario.

However, Indonesia's solar market faces unique challenges in ramping up production and competing on a regional scale. Join us as Helen unpacks the complexities and opportunities in making solar power a cornerstone of the nation’s energy transition.

Today we're joined by Jesse Choi of Reku, a prominent crypto exchange based in Indonesia. Following the tumultuous FTX scandal in 2022, the global cryptocurrency landscape experienced a significant downturn. Fast forward to 2024, and we’re witnessing a remarkable resurgence.

Key events, including the Bitcoin halving and the launch of BlackRock’s Bitcoin ETF, have reignited institutional interest and cemented crypto’s status as a legitimate asset class. With the market hitting unprecedented highs this year, Jesse analyzes current trends and discusses Reku’s strategy and performance in recent quarters.

In today's episode, Derisa Zahara, AC Ventures' AVP of Organization and People, talks with fellow practitioners in the Southeast Asian recruiting and HR sector. 

Sandi Sadek is the Chief People Officer at global venture capital firm B Capital. Also with us is Sergio Salvador, the former Chief People Officer and current Strategic Advisor at Carsome, as well as a member of ACV's portfolio advisor community. 

The group discusses various strategies for attracting and retaining top talent in the region, where competition has always been fierce, as well as the implications of new technologies like AI on the future of talent acquisition in emerging markets.

Each year, Bain & Company releases a comprehensive list of “insurgent brands,” defined primarily as high-growth independent, local consumer brands not owned by a multinational corporation. They compete head-on with the market’s largest incumbents or create new categories altogether. 

Indonesia is predicted to be the world’s fourth-largest economy by 2045. Estimates suggest its GDP per capita could reach a tipping point of US$7,500 by 2030. When combining all the market's key ingredients, we end up with an environment where disposable incomes are set to explode and fuel the growth of consumer sectors like wellness, luxury goods, cosmetics, beauty clinics, and more.

With us today to discuss is Melina Anlin, VP of Investment at AC Ventures, a former senior manager at Bain in Indonesia, and an expert on the rise of local insurgent brands.

The real estate and infrastructure sectors are responsible for about 40% of global carbon emissions, and addressing the climate crisis requires reforming these industries. Today, we are talking to Annu Talreja, Founder and CEO of Accacia, an Asian startup that enables large property owners to monitor their carbon footprint in real time by integrating with ERPs and property management systems. 

Accacia has already been implemented across more than 20 million square feet of real estate in Asia. Today, the company is expanding across Southeast Asia, the Middle East, the United States, and Canada. Speaking with Annu today is Helen Wong, Managing Partner at AC Ventures.

Today, we look into the strategic communications and storytelling aspects of venture building with two expert guests, both of whom are part of AC Ventures' advisory community for the startups we invest in.

Mike Amour is a seasoned veteran in the global advertising and communications industry. His current role is Founding Advisor and Director at Salamander Advisory, founded by a group of TMT growth professionals to help VC firms and tech companies meet milestones and achieve their potential. Mike's career includes working on Nike’s comms strategy as it boomed in the 1990s, as well as those of other blue-chip global brands. He has held C-level roles at some of the world’s most renowned agencies, including McCann Worldgroup, Wieden+Kennedy, Grey Advertising, Havas, and more.

Also with us is Harumi Supit, a principal at Alur Communications. She’s an indie powerhouse and strategic comms consultant, and the former Head of Corporate Communications for OVO, before and after its acquisition by Grab. If you’re an ACV portfolio founder, both Harumi and Mike are available for consultations by reaching out via our value creation team.

In today's MindShare episode, we dive into Indonesia’s new retail scene. Host Leighton Cosseboom is joined by Tiffany Danielle, co-founder of Rosé All Day Cosmetics (RADC), an Indonesian beauty brand that recently raised a series A round of US$5.41 million led by SWC Global, with participation from AC Ventures and new backer DSG Consumer Partners.

The round came shortly after RADC saw 4x annual revenue growth in 2022 followed by 6x growth in 2023. 

Also with us, Jack Zhang is the co-founder of Simplus, a leading Southeast Asian small home appliance brand that tripled sales in 2023. Some of its most popular items include its signature high-speed hair dryers, easy-to-use air fryers, high-quality vacuums, mops, and more.

During the ‘Double 11’ shopping festival in 2023, Simplus ranked number one on TikTok and number two behind Philips on Shopee’s top brands in small home appliances and achieved a record-breaking US$1 million in sales on a single day. Both companies have reported profitability.