Indonesian startup Populix has raised USD 1.2 Million on 29th April 2021 in a substandard pre-series A funding round. It has raised USD 2.3 Million since it came into existence. They got USD 1 Million in their seed fund by Intudo, which included their total raised funds. The investors for this round were Intudo Ventures, with Quest Ventures. The studio is investors in Populix from the start, as the seed fund of USD 1 Million was from their side to Populi.
Populix intends to make research effortless for the firms through an app with more than 250,000 users across 300 Indonesian cities. The new capital raised will be used for marketing, product launch and hiring.
Populix makes its client’s use the app, also called Populix, which helps the user to go through daily polls, news and games. It specializes in a wide range of research, from short surveys to long studies over a period of time.
About Investors :
Intudo Ventures:
Intudo is an “Indonesia – only” venture capital company with a portfolio approach of capitalizing on the rapid growth of private consumption and rising numbers of the middle class in the country. Indonesia is the fourth most populous country in the world.
Quest Ventures:
Quest Ventures, formerly known as QuestVC, is a venture capital firm founded by James Tan and Wang Yumming in 2011. This company concentrates on investing in digital commerce, based in Singapore. They invest in companies across Asia.
About the company:
Populix is a consumer intellect platform that aids businesses to meet with highly qualified informants. Populix helps clients to do both quantitative and qualitative types of research. It also provides data analysis and improving recommendations.
The firm’s revenue grew five times in 2020 after two years of establishment. Populix started in 2018 based in Indonesia. It is currently in progress to launch a self-service product named Paket Hemat Populix (PHP) for clients like university researchers who want to conduct their own survey and monitor the real-time result.
Populix founders Timothy Astandy (CEO) and Eileen Kamtawijoyo (COO) were friends and studied in the same management college, at the University of Cambridge.
Words from Founder –
“When we were studying, we looked at developed markets, and in developed markets, consumer insights is such a big thing that all the brands are using it already. But it’s something that’s not available in developing countries like Indonesia, where many companies still conduct research offline despite its very high smartphone engagement rates.” – said Astandu.
“We felt it was important to do consumer sentiment in Indonesia because it’s going to be a big market and Indonesia has seen very little innovation so far, that gives us a chance to disrupt it, in the sense that it has always catered to the big clients. It’s always the multinationals in Indonesia that buy it, but you see an emerging middle class, a lot of SMEs, and perhaps they actually need research and data more than big companies.” – Astandu added.
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