Wavemaker Partners

Wavemaker Partners is an early-stage venture capital firm founded in 2003 dual-headquartered in Los Angeles and Singapore. We have over $265M in assets under management, have invested in over 300 portfolio companies, and have consistently delivered top quartile returns to our investors. Wavemaker is the regional partner for Southern California and Southeast Asia of the Draper Venture Network (DVN), the world's leading VC collective comprising of 10 firms across 5 continents.

Joel Ang

Senior Associate and Vice President of Investment

Harold Au

Investment Manager

Buck Jordan

Managing Partner

Gavin Lee

General Partner

Eric Manlunas

Founder and Managing Partner

Paul Santos

Founding Partner

John-Marshall Stubbs

Principal

Ajay Taunk

Associate

Past deals in Indonesia

Fit Hub Indonesia

Series A in 2024
Fit Hub Indonesia is a health & wellness startup in Indonesia.

Fit Hub Indonesia

Seed Round in 2023
Fit Hub Indonesia is a health & wellness startup in Indonesia.

Pitik

Series A in 2022
Pitik is an agri-tech startup focused on enhancing the poultry supply chain for chicken farmers in Indonesia. The company offers a comprehensive farm management system that integrates Internet of Things (IoT) technology, algorithms, and digital assistance to support farmers in managing their operations effectively. By providing full backend support, Pitik empowers farmers to improve productivity and efficiency, ultimately enabling them to produce higher quality chickens at competitive prices. The startup aims to elevate the welfare of chicken farmers while modernizing poultry farming practices in the region.

Credibook

Series A in 2022
Credibook is a startup focused on assisting Indonesian retail wholesalers in managing their financial operations through a digital debt logbook application. This platform aims to streamline the tracking of receivables and payables, enhancing the efficiency of inventory sourcing within the supply chain. The application offers various services, including debt record management, accounts payable and receivable tracking, personal debt management, and reminders for overdue payments. By digitizing these financial processes, Credibook enables business owners to effectively manage their operations using technology. The company plans to expand its reach across Indonesia and diversify its offerings to serve additional business sectors.

Sirka

Seed Round in 2022
Sirka is Indonesia's pioneering metabolic clinic, focused on healthcare innovation through a technology-enabled, holistic approach to managing obesity and metabolic health. The clinic addresses the root causes of weight gain and chronic diseases, offering services that include weight management, digestive health, diabetes care, and chronic disease management. Sirka provides personalized, clinically proven programs tailored to individual needs, combining expert medical care with customized nutrition plans and continuous monitoring. Clients can connect with dietitians through an application, allowing them to set health goals and receive meal plan recommendations as part of structured programs. Sirka aims to empower Indonesians to lead healthier lives by improving weight management and enhancing control over chronic conditions.

Pitik

Seed Round in 2021
Pitik is an agri-tech startup focused on enhancing the poultry supply chain for chicken farmers in Indonesia. The company offers a comprehensive farm management system that integrates Internet of Things (IoT) technology, algorithms, and digital assistance to support farmers in managing their operations effectively. By providing full backend support, Pitik empowers farmers to improve productivity and efficiency, ultimately enabling them to produce higher quality chickens at competitive prices. The startup aims to elevate the welfare of chicken farmers while modernizing poultry farming practices in the region.

GudangAda

Series B in 2021
GudangAda is a business-to-business marketplace focused on transforming and digitalizing Indonesia's distribution chain for fast-moving consumer goods. The platform connects key stakeholders, including principals, distributors, wholesalers, and retailers, by providing an end-to-end digital solution that facilitates online transactions. It enables users to conduct both small and bulk transactions, allowing them to operate as both sellers and buyers. Additionally, GudangAda offers logistics services, merchant solutions, and financial services, enhancing efficiency and accessibility within the supply chain. By streamlining interactions among traders, the platform aims to improve turnover rates, reduce costs, and expand customer reach.

ZuBlu

Funding Round in 2021
ZuBlu Ltd. is a travel platform focused on scuba diving and underwater adventure travel in Asia, providing users with the ability to search, compare, and book experiences at over 600 eco-friendly resorts, liveaboards, and operators. The platform offers detailed information about a variety of marine life, including rays, sharks, and turtles, as well as resources for learning to dive and photography opportunities in stunning locations. Key destinations include Indonesia, Malaysia, the Maldives, the Pacific, the Philippines, the Red Sea, and Thailand. Founded in 2017 and headquartered in Wan Chai, Hong Kong, ZuBlu aims to streamline the dive travel experience, making it easier and more accessible for enthusiasts to find and plan their ideal underwater adventures.

Credibook

Seed Round in 2021
Credibook is a startup focused on assisting Indonesian retail wholesalers in managing their financial operations through a digital debt logbook application. This platform aims to streamline the tracking of receivables and payables, enhancing the efficiency of inventory sourcing within the supply chain. The application offers various services, including debt record management, accounts payable and receivable tracking, personal debt management, and reminders for overdue payments. By digitizing these financial processes, Credibook enables business owners to effectively manage their operations using technology. The company plans to expand its reach across Indonesia and diversify its offerings to serve additional business sectors.

SourceSage

Venture Round in 2020
SourceSage is a B2B marketplace aggregator founded by Sim Jian Min, who, after observing inefficiencies in the outsourcing industry, sought to improve the procurement process for long-tail spending. Established in Singapore in 2015, the company leverages Big Data analytics to streamline purchasing for low-volume items, which have traditionally been overlooked by businesses. SourceSage facilitates access to millions of e-commerce products and services from various global and local marketplaces, allowing companies to make informed sourcing decisions. With a presence in 10 countries across the Asia-Pacific region—including Malaysia, Vietnam, India, Thailand, Indonesia, China, Australia, and Japan—SourceSage serves clients such as DHL, Certis, C&W, Mitsui, and Anphat, aiming to become the leading B2B managed marketplace for long-tail procurement in Asia.

GudangAda

Series A in 2020
GudangAda is a business-to-business marketplace focused on transforming and digitalizing Indonesia's distribution chain for fast-moving consumer goods. The platform connects key stakeholders, including principals, distributors, wholesalers, and retailers, by providing an end-to-end digital solution that facilitates online transactions. It enables users to conduct both small and bulk transactions, allowing them to operate as both sellers and buyers. Additionally, GudangAda offers logistics services, merchant solutions, and financial services, enhancing efficiency and accessibility within the supply chain. By streamlining interactions among traders, the platform aims to improve turnover rates, reduce costs, and expand customer reach.

ZuBlu

Seed Round in 2020
ZuBlu Ltd. is a travel platform focused on scuba diving and underwater adventure travel in Asia, providing users with the ability to search, compare, and book experiences at over 600 eco-friendly resorts, liveaboards, and operators. The platform offers detailed information about a variety of marine life, including rays, sharks, and turtles, as well as resources for learning to dive and photography opportunities in stunning locations. Key destinations include Indonesia, Malaysia, the Maldives, the Pacific, the Philippines, the Red Sea, and Thailand. Founded in 2017 and headquartered in Wan Chai, Hong Kong, ZuBlu aims to streamline the dive travel experience, making it easier and more accessible for enthusiasts to find and plan their ideal underwater adventures.

GudangAda

Seed Round in 2020
GudangAda is a business-to-business marketplace focused on transforming and digitalizing Indonesia's distribution chain for fast-moving consumer goods. The platform connects key stakeholders, including principals, distributors, wholesalers, and retailers, by providing an end-to-end digital solution that facilitates online transactions. It enables users to conduct both small and bulk transactions, allowing them to operate as both sellers and buyers. Additionally, GudangAda offers logistics services, merchant solutions, and financial services, enhancing efficiency and accessibility within the supply chain. By streamlining interactions among traders, the platform aims to improve turnover rates, reduce costs, and expand customer reach.

Sprout Solutions

Series A in 2019
Sprout is a payroll and HR software provider, focusing on emerging markets. Sprout fully automates timekeeping and attendance, replacing spreadsheets and printed forms with biometrics, single-click processing, and prescriptive analytics. Sprout has strong traction in the Philippines and a growing presence in Singapore and Indonesia.

Sprout Solutions

Seed Round in 2018
Sprout is a payroll and HR software provider, focusing on emerging markets. Sprout fully automates timekeeping and attendance, replacing spreadsheets and printed forms with biometrics, single-click processing, and prescriptive analytics. Sprout has strong traction in the Philippines and a growing presence in Singapore and Indonesia.

Sprout Solutions

Seed Round in 2017
Sprout is a payroll and HR software provider, focusing on emerging markets. Sprout fully automates timekeeping and attendance, replacing spreadsheets and printed forms with biometrics, single-click processing, and prescriptive analytics. Sprout has strong traction in the Philippines and a growing presence in Singapore and Indonesia.

WoBe

Venture Round in 2017
WoBe is a financial services provider focused on empowering low-income women in emerging markets, particularly in Indonesia and Myanmar. Through its mobile application, the company enables young urban and rural entrepreneurs to establish small businesses by reselling phone airtime and other digital goods to their communities. By partnering with Ooredoo, a prominent telecommunications company, WoBe aims to enhance access to financial opportunities for underserved populations. The app not only facilitates micro-business ventures but also encourages women to leverage the internet for information and resources, ultimately fostering economic independence and growth among its users.

Snapcart

Seed Round in 2017
Snapcart is a cashback app that incentivizes consumers to take photos of their receipts in exchange for rewards. The insight it compiled and offered to brands and retailers, providing a more accurate measurement of consumer behavior than many existing research methods. The company is based in Indonesia and backed by Ardent Capital.

WoBe

Venture Round in 2017
WoBe is a financial services provider focused on empowering low-income women in emerging markets, particularly in Indonesia and Myanmar. Through its mobile application, the company enables young urban and rural entrepreneurs to establish small businesses by reselling phone airtime and other digital goods to their communities. By partnering with Ooredoo, a prominent telecommunications company, WoBe aims to enhance access to financial opportunities for underserved populations. The app not only facilitates micro-business ventures but also encourages women to leverage the internet for information and resources, ultimately fostering economic independence and growth among its users.

SourceSage

Venture Round in 2017
SourceSage is a B2B marketplace aggregator founded by Sim Jian Min, who, after observing inefficiencies in the outsourcing industry, sought to improve the procurement process for long-tail spending. Established in Singapore in 2015, the company leverages Big Data analytics to streamline purchasing for low-volume items, which have traditionally been overlooked by businesses. SourceSage facilitates access to millions of e-commerce products and services from various global and local marketplaces, allowing companies to make informed sourcing decisions. With a presence in 10 countries across the Asia-Pacific region—including Malaysia, Vietnam, India, Thailand, Indonesia, China, Australia, and Japan—SourceSage serves clients such as DHL, Certis, C&W, Mitsui, and Anphat, aiming to become the leading B2B managed marketplace for long-tail procurement in Asia.

WoBe

Seed Round in 2016
WoBe is a financial services provider focused on empowering low-income women in emerging markets, particularly in Indonesia and Myanmar. Through its mobile application, the company enables young urban and rural entrepreneurs to establish small businesses by reselling phone airtime and other digital goods to their communities. By partnering with Ooredoo, a prominent telecommunications company, WoBe aims to enhance access to financial opportunities for underserved populations. The app not only facilitates micro-business ventures but also encourages women to leverage the internet for information and resources, ultimately fostering economic independence and growth among its users.

Snapcart

Seed Round in 2016
Snapcart is a cashback app that incentivizes consumers to take photos of their receipts in exchange for rewards. The insight it compiled and offered to brands and retailers, providing a more accurate measurement of consumer behavior than many existing research methods. The company is based in Indonesia and backed by Ardent Capital.

SourceSage

Seed Round in 2016
SourceSage is a B2B marketplace aggregator founded by Sim Jian Min, who, after observing inefficiencies in the outsourcing industry, sought to improve the procurement process for long-tail spending. Established in Singapore in 2015, the company leverages Big Data analytics to streamline purchasing for low-volume items, which have traditionally been overlooked by businesses. SourceSage facilitates access to millions of e-commerce products and services from various global and local marketplaces, allowing companies to make informed sourcing decisions. With a presence in 10 countries across the Asia-Pacific region—including Malaysia, Vietnam, India, Thailand, Indonesia, China, Australia, and Japan—SourceSage serves clients such as DHL, Certis, C&W, Mitsui, and Anphat, aiming to become the leading B2B managed marketplace for long-tail procurement in Asia.
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