- This round comes after the startup’s pre-seed funding in 2022
- Funds will go towards enhancing product, technology & operational capabilities
Amoda, an Indonesian construction technology startup, has secured seed funding in a round co-led by East Ventures and Living Lab Ventures.
The startup stated that the investment strengthens its balance sheet, following the pre-seed funding in 2022 and the funds will be mainly allocated to expanding its product, technology, and operation capabilities.
Robin Yovianto (pic), co-founder and CEO of Amoda, said, “With the support of our investors, this seed funding round will propel us forward as we continue to revolutionise Indonesia’s property and construction landscape. We are confident to continue our journey in creating innovative, adaptable and environmentally friendly spaces that empower businesses and individuals.”
Founded by Robin and Agusti Salman Farizi, the challenge in the construction sector lies in conventional methods, leading to significantly lower productivity compared to other industries. Additionally, a lack of transparency and predictability has resulted in significant inefficiencies that affect numerous projects, leading to resource wastage and the creation of large, unused carbon footprints.
Amoda is transforming the conventional construction process by integrating digital technology to address its challenges. This has resulted in hassle-free, cost-effective, and time-efficient construction experiences and solutions.
Amoda provides tailored building solutions for a wide range of clients in Indonesia, from small and medium-sized enterprises to high-growth and large enterprises. A dashboard provides comprehensive information about pricing, construction, and leasing processes with Amoda committed to delivering reliable results on time, subjecting all products and properties to multi-layer inspections.
Furthermore, it offers efficient and adaptable building solutions, allowing for easy relocation and expansion to meet specific needs. This flexibility reduces risk and gives clients the freedom to experiment and change locations during the initial stages of their business ventures.
The company adopts efficient material usage, significantly reducing carbon emissions, rendering the construction process environmentally friendly.
Since its establishment in Oct 2021, Amoda claims to have achieved annual revenue growth of 4x, amassing a portfolio of over 200 construction assets and partnering with more than 50 contractors.
Melisa Irene (pic), partner at East Ventures, explained that this doubling down of investment reflects the firm’s belief in Amoda’s vision to revolutionise Indonesia’s construction sector. “We are confident that their innovative solutions will contribute to increased efficiency, effectiveness, and sustainability in the construction space.”
Bayu Seto, a partner at Living Lab Ventures, described the decision to invest in Amoda as a strategic move driven by the company’s substantial market potential and strong partnerships that align seamlessly with their own vision.
Amoda is presently headquartered in Jakarta and Bandung, with a team of 30. Their goal is to expand their collaboration network by Q3 2024, working with over 30 manufacturing partners, 100 SME suppliers/distributors, and 150 contractor partners. This expansion aims to further streamline, enhance efficiency, and promote sustainability within the construction sector.
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