Skystar Capital

Skystar Capital is a venture capital firm founded in 2014 and based in Jakarta, Indonesia. The firm focuses on supporting early-stage tech entrepreneurs in Southeast Asia, particularly in Indonesia, with the goal of fostering significant and positive changes in the region. Skystar Capital invests in seed-stage and early-stage companies across various sectors, including media, telecommunications, financial services, healthcare, consumer products, hospitality, and education. The firm is known for its strong track record in helping founders scale their businesses by providing strategic support and leveraging its extensive network of expertise in multiple industries.

Andreas Dymasius

Principal

Edward Gunawan

Partner

Abraham Hidayat

Director

Juvenco Pelupessy

Principal

Michael Soeryadjaya

Partner

Gabriella Thohir

Venture Partner

Past deals in Indonesia

Komunal

Series A in 2024
Komunal is a financial technology company based in Indonesia that specializes in peer-to-peer lending services. The company operates a platform that directly connects borrowers, primarily small and medium enterprises (SMEs), with lenders. By facilitating these connections, Komunal provides a funding alternative that offers competitive interest rates and minimal risk for lenders, while enabling SMEs to access unsecured business loans. This approach not only supports individual businesses but also contributes to broader economic growth in Indonesia by fostering relationships between potential borrowers and funders.

Maka Motors

Seed Round in 2023
Maka Motors is an Indonesian company specializing in the manufacture of electric motorcycles. It focuses on producing vehicles tailored to local road conditions and driving styles, ensuring reliability and capability for its customers.

Komunal

Series B in 2023
Komunal is a financial technology company based in Indonesia that specializes in peer-to-peer lending services. The company operates a platform that directly connects borrowers, primarily small and medium enterprises (SMEs), with lenders. By facilitating these connections, Komunal provides a funding alternative that offers competitive interest rates and minimal risk for lenders, while enabling SMEs to access unsecured business loans. This approach not only supports individual businesses but also contributes to broader economic growth in Indonesia by fostering relationships between potential borrowers and funders.

Paper.id

Series B in 2022
Paper.id is a software-as-a-service startup founded in 2016 and based in Indonesia. The company provides a comprehensive platform designed for small and midsize enterprises to streamline their invoicing, accounting, and inventory management. By addressing the challenges faced by businesses that still rely on manual processes, Paper.id offers solutions that include digital invoicing, seamless digital payment integration, and a suite of accounting services. The platform also incorporates advanced technologies such as machine learning and supply chain analysis to enhance workflow efficiency. Additionally, Paper.id supports entrepreneurs with features like co-branded business cards and financing options, enabling them to manage their order-to-pay processes and generate financial reports with ease.

Base

Series A in 2022
Base is an Indonesian direct-to-consumer (DTC) beauty and wellness company that caters to consumers' diverse beauty and wellness needs. Starting with the skincare category, each Base consumer will get a vegan product recommendation through its Smart Skin Test. Fully digitalized and powered by data, Base is currently sold directly from its website and other Omni-channels. Base ships its products nationwide to all of Indonesia’s cities.

NOBI

Seed Round in 2022
Nobi is a cryptocurrency investment platform founded in 2017 and headquartered in Jakarta Barat, Indonesia. The company aims to simplify cryptocurrency ownership and yield generation for users globally. It offers a blockchain asset management application that allows users to safely grow their cryptocurrency investments. The platform provides opportunities for earning yields on popular cryptocurrencies such as Bitcoin and Ethereum, as well as facilitating staking with a variety of altcoins. Nobi's diverse product offerings are designed to enhance the cryptocurrency investment experience for both new and experienced users.

Esensi Solusi Buana

Series A in 2021
Esensi Solusi Buana is the first restaurant technology in Indonesia with the most complete solution under ONE integrated platform.

Komunal

Series A in 2021
Komunal is a financial technology company based in Indonesia that specializes in peer-to-peer lending services. The company operates a platform that directly connects borrowers, primarily small and medium enterprises (SMEs), with lenders. By facilitating these connections, Komunal provides a funding alternative that offers competitive interest rates and minimal risk for lenders, while enabling SMEs to access unsecured business loans. This approach not only supports individual businesses but also contributes to broader economic growth in Indonesia by fostering relationships between potential borrowers and funders.

Base

Seed Round in 2021
Base is an Indonesian direct-to-consumer (DTC) beauty and wellness company that caters to consumers' diverse beauty and wellness needs. Starting with the skincare category, each Base consumer will get a vegan product recommendation through its Smart Skin Test. Fully digitalized and powered by data, Base is currently sold directly from its website and other Omni-channels. Base ships its products nationwide to all of Indonesia’s cities.

Esensi Solusi Buana

Series A in 2021
Esensi Solusi Buana is the first restaurant technology in Indonesia with the most complete solution under ONE integrated platform.

ONIC Esports

Venture Round in 2021
Onic Esports is an esports organization founded in 2018 by Rob Clinton Kardinal in Jakarta, Indonesia. The organization focuses on both offline and online gaming, managing competitive teams in popular titles such as Mobile Legends: Bang Bang, PUBG Mobile, Valorant, and Free Fire. Onic Esports aims to provide professional management for talented players, helping them develop their careers in the esports industry while competing in international competitions. Through its commitment to fostering competitive gaming, Onic Esports seeks to contribute to the growth and disruption of sports entertainment.

Sirclo

Series B in 2020
SIRCLO is an Indonesian e-commerce enabler that assists businesses in establishing a robust online presence. The company provides a range of solutions tailored for both entrepreneurs and enterprises, including SIRCLO Store, IbuSibuk, SIRCLO Commerce, ICUBE by SIRCLO, Sooplai, and Orami. These offerings encompass website development, e-commerce management, and communication tools, allowing clients to streamline their online sales across various platforms, such as websites and marketplaces. With a workforce of around 1,000 employees, SIRCLO has successfully supported over 100,000 brands in their digital transformation efforts. The company operates from multiple locations, including Bandung, Yogyakarta, and Surabaya.

Wallex

Series A in 2020
Wallex Technologies Pte, Ltd. is a Singapore-based company that develops and operates an online cash management platform tailored for SMEs and Fintechs in Asia. Incorporated in 2015, it provides a range of financial solutions, including virtual accounts for collections and disbursements, a multi-currency wallet, foreign exchange conversions, and cross-border payments. Through its platform, customers can transact in 46 currencies, benefiting from fast and seamless transactions along with competitive exchange rates and fees. Additionally, Wallex offers an API that allows for real-time foreign exchange execution, enhancing the efficiency of international transactions. With offices in China, Indonesia, and Hong Kong, Wallex aims to facilitate easier and more effective cross-border financial activities for its clients.

Dekoruma

Series B in 2020
PT Dekoruma Inovasi Lestari operates an online platform that specializes in selling home furnishings and furniture in Jakarta, Indonesia. Founded in 2015, the company offers a diverse range of products, including kitchen and dining room items, decor, mattresses, and household appliances. In addition to retail, Dekoruma connects customers with interior designers, suppliers, and vendors, aiming to enhance the efficiency of the home and living industry. The platform is designed to meet the home decor needs of customers at affordable prices, making it a comprehensive solution for interior design and furnishing.

Hacktiv8

Seed Round in 2020
Hacktiv8 is a prominent coding bootcamp in Indonesia, dedicated to transforming absolute beginners into job-ready developers. The institution offers comprehensive training programs that focus on essential skills such as HTML, CSS, and advanced JavaScript, preparing students for the demands of the tech industry. As a pioneer in the region, Hacktiv8 provides Income Share Agreements (ISA), allowing students to access education without upfront costs. Instead, students commit to sharing a portion of their future income, making quality education more accessible and reducing financial barriers. Through its innovative approach to coding education, Hacktiv8 aims to equip individuals with the skills necessary to thrive in the evolving digital landscape.

Komunal

Seed Round in 2019
Komunal is a financial technology company based in Indonesia that specializes in peer-to-peer lending services. The company operates a platform that directly connects borrowers, primarily small and medium enterprises (SMEs), with lenders. By facilitating these connections, Komunal provides a funding alternative that offers competitive interest rates and minimal risk for lenders, while enabling SMEs to access unsecured business loans. This approach not only supports individual businesses but also contributes to broader economic growth in Indonesia by fostering relationships between potential borrowers and funders.

Base

Seed Round in 2019
Base is an Indonesian direct-to-consumer (DTC) beauty and wellness company that caters to consumers' diverse beauty and wellness needs. Starting with the skincare category, each Base consumer will get a vegan product recommendation through its Smart Skin Test. Fully digitalized and powered by data, Base is currently sold directly from its website and other Omni-channels. Base ships its products nationwide to all of Indonesia’s cities.

Dekoruma

Series B in 2018
PT Dekoruma Inovasi Lestari operates an online platform that specializes in selling home furnishings and furniture in Jakarta, Indonesia. Founded in 2015, the company offers a diverse range of products, including kitchen and dining room items, decor, mattresses, and household appliances. In addition to retail, Dekoruma connects customers with interior designers, suppliers, and vendors, aiming to enhance the efficiency of the home and living industry. The platform is designed to meet the home decor needs of customers at affordable prices, making it a comprehensive solution for interior design and furnishing.

Kudo

Series B in 2016
Kudo is an Indonesian technology company founded in 2014, based in Tangerang, that focuses on enhancing the e-commerce and payment markets in Indonesia. It develops a platform that integrates offline and online shopping experiences by installing kiosks in various locations such as malls, universities, and convenience stores. These kiosks enable customers to purchase game vouchers, discount vouchers, and cellphone balances without the need for credit cards. Kudo's team comprises skilled professionals with backgrounds in prominent global technology and management consulting firms, contributing to its innovative approach in the sector. In 2017, Kudo was acquired by GP Network Asia Pte. Ltd., further expanding its capabilities and reach in the market.

Laku6

Convertible Note in 2016
Laku6 is an e-commerce platform based in Indonesia that facilitates the buying and selling of second-hand smartphones. It aims to support the emerging middle class by providing affordable options for acquiring and upgrading mobile devices through recommerce and financing solutions. The platform offers accurate and up-to-date information regarding pricing and device specifications, ensuring customers can access quality smartphones at competitive rates.

Black Garlic

Seed Round in 2016
Black Garlic is an Indonesian company that specializes in online meal kit delivery services, founded in 2015 and based in Jakarta. It offers a selection of fresh ingredients, including meat, vegetables, and seasonings, along with easy-to-follow cooking recipe cards featuring step-by-step photos. The company aims to simplify the cooking process for individuals, even those with limited culinary skills, by providing three expertly designed recipes each week, crafted by culinary expert William Wongso. Through its services, Black Garlic enables customers to prepare special meals at home quickly and conveniently.

HijUp

Seed Round in 2015
HijUp is an online fashion and lifestyle e-commerce platform specializing in Islamic fashion, particularly for Muslim women. The company offers a diverse range of products including hijabs, clothing, and accessories designed by Indonesian Islamic fashion designers. By acting as an intermediary between designers and global buyers, HijUp enables designers to enhance their profitability while simplifying the shopping experience for customers. The platform features a variety of items such as square hijabs, scarf caps, long dresses, blazers, skirts, and accessories like masks, brooches, socks, and necklaces. HijUp aims to empower Muslim women to express their style while adhering to their cultural values, promoting the idea that they can look fashionable and feel confident in their attire.

Adskom

Seed Round in 2014
Adskom Pte. Ltd. is an advertising technology company based in Singapore, with additional offices in Jakarta, Indonesia, Palo Alto, California, and Noida, India. Founded in 2013, the company specializes in providing digital advertising solutions tailored for the ASEAN market. Adskom develops programmatic advertising platforms designed to meet the inventory optimization needs of publishers, enhance campaign performance for advertisers, and optimize budget spending for ad buyers. The company's mission is to empower the digital advertising industry through effective technology and insightful business services.
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