On April 27, startup accelerator program Surge of Sequoia Capital India announced 15 early-stage startups that are joining its third cohort, Surge 03 2020. Three of them are Indonesian startups, namely Bukukas, CoLearn, and Hangry
Bukukas is a digital ledger mobile app, which helps MSMEs owners in understanding and managing their financial flows effectively. The company was founded by Krishnan Menon and Lorenzo Peracchione and launched in December 2019, and served over 250,000 merchants by March. The number of merchants using BukuKas grew 20x, and the number of transactions grew 60x in the January to March period.
CoLearn is an edtech platform launched in January, which helps tuition centres and tutors to create online learning experiences for their students. It offers online classes, as well as live-streamed homework and exam assistance. It has a practice platform that allows students to learn independently at their own pace, and a real-time dashboard for tutors to get a better understanding of student’s strengths and weaknesses.
Hangry is a cloud kitchen platform, utilizing a common kitchen with shared staff and resources to serve multiple brands for online orders and delivery. The company was launched in in Jakarta in November 2019 with three brands and one kitchen, and within four months it grew to four brands and 17 kitchens. Currently it is serving orders on GoFood and GrabFood, but it plans to launch its own app soon.
Other investors across the ecosystem also partner with Surge. Eighty percent of Surge 03 startups received funding from institutional co-investors, and nearly half of them have angel investors as well. Altogether, this third cohort has raised more than $39 million in their Surge funding rounds.
Surge 03 has commenced since April 13, and the program is being conducted fully online for the first time. One full-day session will be conducted every week for 16 weeks, which includes online workshop on company building, small group discussions and interactive fireside chat session with Surge mentors - such as founder and CEO of Tokopedia William Tanuwijaya, global managing partner Sequoia Capital Doug Leone, and other experienced founders and investors from India, Indonesia, the U.S, and Vietnam.