Indonesian venture capital firm Alpha JWC Ventures has added two Indonesia-based companies into its portfolio list by backing the seed round of neuroscience and sensory analytics company Neurosensum and smart capsule hotel startup Bobobox.
Neurosensum, which uses neuroscience and artificial intelligence for market and consumer research, bagged an undisclosed amount of funding from Alpha in April just two months after launching its commercial operations in Indonesia.
The company, which was initially founded in Singapore last year, aims to change the game of research by combining the conventional methods of market research, which records what consumers say, with tech-based research, which tracks what they think.
The technology it employs includes neuroscience, EEG/ biometric devices and gamified surveys to deep dive into consumers’ brain and extract true insights.
The company says it currently serves 27 clients with around 55 projects. The fresh funding from Alpha has been earmarked for the development of neuroscience techniques, research and development and talent acquisition.
According to Managing Partner Rajiv Lamba, Neurosensum is currently working on a new do-it-yourself machine learning and AI-based software targeted at SMEs that is expected to be launched in the first quarter of 2019.
Additionally, the company is looking to raise a Series A funding round later this year, which will be used to finance its expansion to a number of Southeast Asian countries as well as London, UK.
Like Neurosensum, accommodation startup Bobobox also secured a seed funding from Alpha in April. Japan’s Genesia Ventures also participated in the round.
The company, based in Bandung, West Java, describes itself as a trusted accommodation service for smart travellers and millennial adventurers.
It offers travellers compact spaces it calls ‘pods’ at an affordable price. Bobobox leverages technology in multiple ways, including in its booking and check-ins/outs as well as to control the facilities in its pods.
Founded in 2017, the company currently has one flagship hotel in Bandung, containing 62 pods, and plans to expand to 11 more locations in Indonesia in the next few months.
According to Bobobox co-founder Arip Tirta, the proceeds from the seed funding round will be used to build the company’s first flagship pods and for recruitment purposes. The funding will also be used to expand the business through a franchise model.
Tirta said the company aims to be the country’s biggest accommodation chain operator with operations in over 200 locations by 2020.
Neurosensum and Bobobox are two of several companies that Alpha JWC has invested in so far this year. Among the investments that have been publicly announced are a pre-Series A funding for agritech startup TaniGroup and a $2.3-million Series A round for payment startup RateX.
The latest and the biggest funding round Alpha JWC has backed so far this year is the $30-million Series B raised by fintech firm Kredivo.
As reported by this portal last month, Alpha JWC is raising a new $100-million fund to invest in Indonesian and Southeast Asian startups.