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Four of AC Ventures’ portfolio companies are among Linkedin’s Top Startups 2021

Published on September 23, 2021

Photo Credits: AC Ventures

LinkedIn releases the first annual LinkedIn Top Startups in Indonesia. It is the resource to find the startups that should be paying attention to right now, reflecting 15 companies that have continued to attract investment, employees, and awareness in 2021.

Four of AC Ventures’ portfolio companies are included in the LinkedIn Top Startups 2021 list. They are Shipper, Ula, BukuWarung, and CoLearn.

This first annual LinkedIn Top Startups list in Indonesia is the resource to find the startups that should be paying attention to right now, reflecting 15 companies that have continued to attract investment, employees, and awareness in 2021.

The ranking is based on the LinkedIn data across four pillars: employee growth, jobseeker interest, member engagement with the company and its employees, and how well these startups pulled talents from our international Top Companies lists.

Companies must be seven years old or younger, have at least 50 employees, be privately held, and be headquartered in Indonesia.

Check out this year’s 15 Top Startups in Indonesia:


Sociolla is a major player in the e-commerce beauty and personal care industry in Indonesia. The beauty-tech company recently launched its “Love Local” initiative, supporting local Indonesian brands during the pandemic.

Kopi Kenangan

The tech-enabled Kopi Kenangan sells coffee and tea from tiny retail spaces and has more than 400 stores across 26 cities in Indonesia. Its innovative business model is influencing coffee chains as far away as New York City.


From farm to an app to table, e-commerce platform Sayurbox modernizes the fresh food supply chain and solves unfair pricing in Indonesia.


Ajaib runs the fourth largest stock brokerage in Indonesia based on the number of trades. In March 2021, Ajaib raised the US $90 million in its Series A round.


Flip’s pitch allows customers to send money securely across the biggest banks in Indonesia without any transaction fees. For business users, Flip boasts a low-cost entry point to more than 100 banks across Indonesia.


Health food startup Lemonilo sells its products online and in physical stores and is “on a mission to make a healthy lifestyle available to everyone.”


Ruangguru is a technology company focusing on education-based services in Indonesia with 15 million users and managing over 300,000 teachers in more than 100 subject areas. In April 2021, the company secured a US $55 million investment.


Mamikos is a listings platform for boarding houses in Indonesia — boarding houses where tenants rent a room and share common living spaces with other residents in the same building.


The agritech startup helps farmers earn more for their work by cutting out traditional middlemen in the selling process. Its online marketplace allows restaurants and grocers to order produce directly from farmers and get it delivered to their doorstep.


Andalin aims to make imports and exports easy for companies through their platform. It has served more than 300 companies, from small businesses to big companies like Hitachi and Electrolux.


Providing online sellers with “Amazon-level logistics” is the big dream for Shipper, whose platform provides merchants with services like parcel pick-up, shipping management, and order management.


Ula aims to help cut down inefficiencies that small business owners face in sourcing and purchasing inventory by allowing them to purchase store supplies wholesale.


One of the region’s first e-grocery marketplaces, HappyFresh, operates in Indonesia, Malaysia, and Thailand. It got a boost in business from the rise of online shopping during the pandemic.


The edtech startup, CoLearn aims to make remote learning more convenient, particularly during the pandemic’s school closures. Students can get help for homework and exams from tutors who hold live classes and upload videos on the app.


BukuWarung helps small businesses go digital more efficiently by providing financial tools like accounting, invoices, and online payments on their platform.

AC Ventures (ACV) is a top Southeast Asian venture capital firm that invests in early-stage startups focused on Indonesia and ASEAN, with over US$500 million in assets under management. The firm's mission is to empower entrepreneurs with more than just capital by combining operational experience, industry knowledge, deep local networks, and resources. ACV's team has invested in over 120 tech companies in the region since 2012. With a team of more than 35 professionals led by Adrian Li, Michael Soerijadji, Helen Wong, and Pandu Sjahrir, it has offices in Jakarta and Singapore.

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