Accelerating Asia Prepares IDR 2 T for 11 Startups, One from Indonesia
A venture capital company and international accelerator, Accelerating Asia, is holding a fourth cohort startup acceleration program.
There are 11 pilot companies that have passed, one of which is from Indonesia, namely TransTRACK.ID. Accelerating Asia prepares S $ 200 million or around IDR 2.2 trillion for participants who pass.
“The selected startups will be part of the cohort and are entitled to receive an investment of up to S $ 200 of our venture capital,” said Accelerating Asia Co-Founder and General Partner Amra Naido during a virtual press conference, Tuesday (13/4).
Accelerating Asia selected 500 startups from 30 countries for the fourth cohort program. However, only 2% or 11 startup companies were selected.
They will follow the acceleration program for 100 days. The climax is in the form of an online Demo Day which will be held on June 17th.
Amra said that the 11 startups had undergone a month of acceleration. They have raised over S $ 6 million or IDR 64 billion in the capital. Even though it’s only been a month, the startup’s growth rate is 30% compared to the previous month.
The revenue of Indonesian startup TransTRACK.ID, for example, has more than doubled since the start of the pandemic or March 2020.
The startup collects data to track, analyze and improve transportation operations. TransTRACK.ID provides data collection of fleets, drivers, and assets for the industry.
“We help customers improve transportation services, especially logistics players, during the Covid-19 pandemic. This is because of the potential,” said Anggia Meisesari, Co-founder and CEO of TransTRACK.ID.
TransTRACK.id is a Telematics Solution Provider for Fleets
Startup TransTRACK.ID, a startup that provides telematics solutions for corporate fleets. This startup is able to track, analyze and improve the productivity of the client companies’ transportation.
TransTrack.id was chosen to participate in the 4th Accelerating Asia cohort program. Accelerating Asia is an early-stage venture capital company and startup accelerator in Southeast Asia.
Accelerating Asia has been implementing accelerator programs since before the pandemic. Indonesian startups that have participated in the Accelerating Asia program include KaryaKarsa and MyBrand.
Participants will get a number of benefits in the acceleration program because Accelerating Asia connects investors, partners and clients to startups participating in the program.
The acceleration program held by Accelerating Asia lasts 100 days with intensive weeks with masterclasses, investor meetings and field training with weekly activities such as Entrepreneur in Residence sessions.
10 Other Startups that Passed this Stage
Apart from TransTRACK.ID, the startups that passed were Amar Lab, Casa Mia, DoctorKoi, Drive Lah, HandyMama, Independents, Kopi Date, Mobiliti, Swap, and Waitrr.
Bangladesh’s Amar Lab empowers people to meet their health needs with on-demand or on-demand diagnostic services. The company has served and delivered more than 10 thousand diagnostic tests, including Covid-19, for individual and corporate clients.
While Waittr offers a Quick Response (QR) code-based ordering and payment platform for restaurants. The company’s client base includes food and beverage brands.
Co-Founder and General Partner at Accelerating Asia Craig Dixon said Amar Lab and Waitrr benefited from the changing market dynamics due to the corona pandemic. “They are in the right position for long-term growth,” he said.
Craig assesses that other sectors that have the potential to grow big are logistics and e-commerce. “Logistics has the largest growth. It supports infrastructure, facilities, and other infrastructure,” he said.
He said that Acceleration Asia will facilitate 11 accelerated startups that graduate with various partnerships both government and investors. In addition, creating support programs to develop ecosystems.
There is an Amplify program, which is a virtual accelerator with six modules. The goal is to provide startups with access to top networks to grow the business.
In addition, there is the Angel360 program which contains virtual angel investing that provides investment-related guidance from investors in Asia.