JAKARTA (TheInsiderStories) – PHI-Integration, a software company that provides data analytics and management services, announced on May 30 that it has secured an undisclosed amount of funding from East Ventures and Skystar Capital. This investment will accelerate the company’s execution on its vision for #DataDrivenIndonesia into hyperdrive.
First launched in 2005 as a data warehouse and consulting company, PHI-Integration has helped many clients in Indonesia. Backed by two local venture capitals, the company then take a bold move by building a new sub-service called Linkr under DataQualitix brand to help companies in refining their raw data.
Willson Cuaca, Managing Partner of East Ventures said, ”As we have seen multiple examples on how companies can create an impactful decision using data, we believe PHI Integration has place to play a pivotal role in data management industry.”
At that same time, PHI-Integration also announces its collaboration with Skystar Ventures (Multimedia Nusantara University) to introduce a data-first and immersive online education platform called DQLab (www.dqlab.id).
Geraldine Oetama, Partner at Skystar Capital, mentioned, “Big data is becoming one of core importance for corporations in Indonesia. With data science on high demand, we are keen to support PHI-Integration and look forward to initiating DQ Lab together to develop data science capabilities along with our partner University Multimedia Nusantara.”
Recently East Ventures is collaborating with Tokyo’s based YJ Capital Inc. and SMDV –venture capital (VC) firm under Sinar Mas Group –, to set up EV Growth to grab growing digital companies in Indonesia.
Trough this collaboration the three parties are targeting to invest US$150 million in the startups in the country. EV Growth aims at Southeast Asia pioneering companies, especially Indonesia, to provide growth-stage capital injections, particularly in the Series B.
Currently, EV is an early stage venture fund focused on Southeast Asia and Japan. With a focus on Southeast Asia, as well as networks across Indonesia, Japan, and the United States, EV is currently investing in more than 300 companies in Asia and the United States. Included in East Ventures Indonesian portfolio is Traveloka, Tokopedia, Ruangguru, IDN Times and MokaPOS.
Minister for Information, Communication & Technology Rudiantara is optimistic that the country to create five unicorns until 2019. Based on Coordinating Board for Investment data, He said, the digital investment reached $4.7 billion in 2017.
According to him, Southeast Asia now has six to seven unicorns and four of them are in Indonesia. In 2017, the total funding flowing to technology-based startups in Southeast Asia reached $7.9 billion, a four-fold increase from the value in 2015.
Singapore and Indonesia dominate, of which 71.2 per cent of total funds flows to Singapore and 22.1 per cent goes to Indonesia. However, of all the investments that flow, only eight per cent of the funding goes to series B funding. This shows a gap that hinders the acceleration of digital startup growth in Indonesia.