Jakarta, Indonesia, April 15, 2025 – Populix, an Indonesian tech-based research company, today announced the earnings of its first round of Series B funding worth USD 4.3 million. The funding was led by MSW Ventures, with participation from Intudo Ventures, Altos Ventures, and Acrew Capital.
This is an achievement not only for Populix but also for Indonesian startups; especially amidst the weak investment climate due to the tech winter in the past few years and the recent plunge in the IHSG price. Throughout 2024, the Data Vantage report by DealStreetAsia noted that total funding entering Indonesia had decreased by 34% YoY, and investment value had fallen by around 66% or IDR 7.3 trillion. The decline in Indonesia was the deepest in Southeast Asia. The funding affirms Populix’s position amidst the uncertain investment climate.
Dr. Timothy Astandu, Co-Founder and CEO of Populix, said, “We are grateful for the trust from our investors to re-invest in Populix, even in the current investment climate. This funding encourages us to continue reinforcing our business fundamentals by developing services and leveraging technology to innovate in the future. In addition, Populix also aspires to expand its market to Southeast Asia based on strong demand from current clients.
Since closing the Series A round in 2022, Populix has continued expanding public access to research. In 2023, Populix launched Policy & Society Research service, to help organizations and governments to analyze public sentiment, policy impacts, and economic and social trends. Meanwhile, on the technology side, Populix developed NeXa, an AI-based research assistant that can help guide users in conducting research, starting from designing and creating questionnaires, accessing targeted respondent groups, to drawing conclusions.
In the last year Populix grew by 1.85x. In the same period, the total projects carried out by Populix also grew two-fold, with 65% of them coming from recurring clients. This underlines the level of client trust in Populix’s various innovations, to ensure data and insights that are relevant to their businesses and institutions.
Through the Series B funding received today, Populix is committed to developing and training its AI models to automate research processes and generate faster and more reliable insights. Populix is also working on AI machine learning to develop synthetic respondents, artificial personas that mimic human responses which enable faster data collection. The two developments are prioritized to help industry players and policymakers maximize AI adoption in their research.
Patrick Yip, Founding Partner, Intudo Ventures, added, As one of Populix’s earliest investors, we’ve had the privilege of seeing the company grow since leading their Pre-A rounds. Participating in this Series B round alongside our trusted fellow investors reflects our continued belief in Populix’s vision and execution capabilities. Even with recent market challenges, Populix has kept growing and proving its value through reliable, data-driven insights that businesses rely on. With new products in the works, we’re confident Populix will continue to be a leading consumer insights platform in Indonesia and the region.
Richard Song, Partner, Altos Ventures, said, “At Altos Ventures, we are committed to partnering with visionary leaders who demonstrate an ownership mentality and a clear vision for the future. Populix exemplifies these qualities by leveraging technology to revolutionize consumer insights in Indonesia. We are excited to support their journey as they empower businesses with real-time, accurate data to make informed decisions.”
