Indonesian startups raised over $3.4b in 2019, led by Gojek’s mega round

A Gojek driver rides his motorcycle through a business district street in Jakarta, June 9, 2015. REUTERS/Beawiharta

There were more than 130 deals involving startups in Indonesia that raised at least $3.4 billion in 2019 – making the country the second-most robust startup nation in Southeast Asia, according to deal data compiled by DealStreetAsia.

Only Singapore, which typically attracts entrepreneurs from all over the world to set up shop in the city-state, had more startups raise more money during 2019. DealStreetAsia recorded $4.2 billion worth of private equity and venture capital deals in Singapore last year.

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