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Indonesian consumer research startup Populix gets $1.2M in pre-Series A funding

Indonesia is one of the fastest-growing consumer markets in the world, but buyer data is still hard to find for countless professions, extremely smaller ones. Populix is intended to shape experiment easier for companionships, through a respondent app that now has 250,000 users in 300 Indonesian municipalities. The startup has announced that it has raised $1.2 million in an oversubscribed pre-Series A round led by returning investor Intudo Ventures, with participation from Quest Ventures.

Populix has now caused a total of $2.3 million since it was set up in January 2018, including a$ 1 million seed round too led by Intudo. The company’s revenue originated five times in 2020 and it signed off 52 reporting enterprise purchasers in ten countries, as the COVID-1 9 pandemic limited traditional forms of consumer investigations, like in-person questionnaires. Its patrons range in size from tech startups to multinational conglomerates.

The new asset will be used for product opens, marketing and hiring. Populix is currently in the process of launching a self-service product announced Paket Hemat Populix( PHP) for purchasers like SMEs or university researchers that want to conduct their own surveys and monitor results in real time.

Populix’s founding team

The company’s co-founders are chief executive officer Timothy Astandu, chief operating officer Eileen Kamtawijoyo and primary technical officer Jonathan Benhi. Astandu and Kamtawijoyo met while both were graduate students in its management at the University of Cambridge.

“When we were studying, we looked at developed business, and in developed groceries, customer penetrations is such a big thing that all the symbols are using it already, ” said Astandu. “But it’s something that’s not available in developing countries like Indonesia, ” where many companies still conduct research offline despite its very high smartphone engagement frequencies. For example, if a coffee label wants to understand consumer sentiment, it will send beings with examines into a cafe or grocery store and question customers to fill them out in return for a small gift.

“We felt it was important to do purchaser sentimentality in Indonesia, because it’s going to be a big market and Indonesia has considered very little innovation so far, ” Astandu contributed. “That yields us a chance to interrupted it, in the sense that it has always gratified to the big clients. It’s ever the multinationals in Indonesia that buy it, but you are seeing an rising middle class, a lot of SMEs and perhaps we are really need research and data more than big companies.”

After returning to Indonesia, Astandu and Kamtawijoyo began working on a more accurate and accessible alternative to traditional inspections, developing Populix while part of Gojek’s Xcelerate program. Then they met Benhi, who was previously an designer at Discuss.io, a Seattle-based video platform for shopper research.

Populix’s buyers conduct research through its respondent app, too announced Populix, which obstructs users employed through daily referendums, competitions and bulletin, in return for incentives like money offerings or rebate programs. Populix can be customized for a wide range of research, ranging from short-lived canvas to longitudinal studies that take place over a period of time, and is used to track brand health, prepare for product launches or measure customer satisfaction. For example, a chocolate brand used Populix to see how it was doing compared to opponents on a monthly basis and study consumer reactions before propelling a ready-to-drink coffee. E-commerce business have also used it to ask beings where they shop online, what they look for and how they feel about the customer experience on different platforms.

“We can speed up the recruitment process, because we already have respondents available in our database for essentially any kind of study, ” said Kamtawijoyo.

Populix is currently developing brand-new produces to track busines fluctuations, using data collection tech like visual attribute recognition to scan debits from major e-commerce programmes. It says its data category plan can recall over 73% of all components on invoices.

Market research platform Milieu Insight grows $2.4 million to launch in more Southeast Asian countries

Other business in the same space include proved players like YouGov and Kantar, and Singapore-based Milieu Insight, a market research and data platform that operates in several Southeast Asian countries. Astandu said one of the main ways Populix differentiates is by focusing on mobile overlooks, since Indonesia is the fourth-largest smartphone market in the world( after China, India and the United Mood) and the invasion rate is still growing.

The founders said Populix will continue focusing on Indonesia with its pre-Series A funding, but plans to look at other developing business with fragmented customer data, like the Philippines and Vietnam, after elevate its Series A round.

In a press statement, Intudo Ventures founding partner Patrick Yip said, “With consumer attires experiencing drastic changes in recent years due to rising incomes and widespread embrace of digital commerce, Populix is providing purchasers with actionable revelations into the latest uptake characteristics and trends of Indonesians. We are elicited to doubled down on our support for Populix as it continues to roll out new technology-driven consumer penetrations commodities and solutions to meet the needs of purchasers both big and small.”

What investors need to know about research and inspiration in the COVID-1 9 age

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