Indonesian technology-based research company Populix (Timothy Astandhu) announced on the morning of the 15th (local time) that it had attracted a Series B investment of 4.3 million USD (approximately 6.1 billion KRW). This investment was led by MSW Ventures, with participation from Intudo Ventures, Altos Ventures, and Acru Capital.
With this investment, Populix plans to focus on developing and training AI models to automate the research process while also providing fast and reliable insights. It is also accelerating the development of AI machine learning-based synthetic respondents, which can rapidly increase the speed of data collection by imitating the reactions of real people. The development of these two technologies will help industries and policymakers effectively utilize AI for research.
This investment attraction is a meaningful achievement not only for Populix but also for the entire Indonesian startup industry. Recently, the investment environment in the tech sector has been shrinking worldwide, and in Indonesia in particular, the decline in the IHSG (Indonesia Composite Stock Price Index) has worsened local investment sentiment. According to DealStreetAsia’s Data Vantage report, total investment in Indonesia in 2024 decreased by 34% year-on-year, and the investment amount decreased by approximately 66% (IDR 7.3 trillion). This investment was made despite the difficult market conditions, and it once again proves Populix’s position.
Since attracting Series A investment in 2022, Populix has continued to expand the public's access to research. In 2023, it launched the Policy & Society Research service, which helps organizations and governments analyze public opinion, policy effects, and economic and social trends. It also developed Nexa, an AI-based research assistant, to support the entire research process from survey design and writing to accessing target respondent groups and deriving conclusions.
As a result, Populix has doubled the number of overall projects over the past year, 65% of which are repeat customers, indicating that they feel they are receiving data-driven insights that are relevant to their business and organization.
Timothy Astandu, co-founder and CEO of Populix, said, “We would like to thank the investors who have once again trusted the Populix team in a difficult investment environment. We plan to use this investment to develop services and enhance technology. We are also considering expanding into Southeast Asia based on demand from our existing customers.”
- See more related articles
You must be logged in to post a comment.