Populix Raised USD 4.3 Million in Funding

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.”

About Populix
Populix is ​​a technology-based research company that connects businesses, institutions, and individuals with quality, diverse, and targeted respondents throughout Indonesia. With a data-driven approach and the support of the latest technology, Populix provides end-to-end research solutions—from planning, data collection, analysis, to reporting—for market research needs as well as public and social policy studies. In addition to custom research services, Populix has also developed an online self-survey platform to help users access insights quickly and efficiently. To download the latest studies from Populix, please visit info.populix.co.

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About MSW Ventures

MSW Ventures supports Asia Fund X (AFX), a successor to Asia Fund II (AFII), in its search for exceptional growth models and founders with the X factor within the transformative digital economy of Southeast Asia. The firm values bold, mainstream-oriented, and mature-minded founders whose startups exhibit sustainable growth, quality revenue, and validated market-priced product-market fit. Jeffrey Seah serves as General Partner at MSW Ventures. Throughout his career at multinational corporations WPP and Publicis Groupe, Jeffrey has advised global and regional C-suites on developing coordinated commercial go-to-market strategies across various geographies.

For more information, please visit https://www.mettlesaltwealth.com/ 

About Intudo Ventures

Intudo is an investment firm with operations in Indonesia and Silicon Valley dedicated to: (1) bringing the world to Indonesia and Indonesia to the world; and (2) bringing the world to Silicon Valley and bringing Silicon Valley to the world, with ~US$400 million in total assets under management. Intudo’s investors include leading institutions and family offices (including 30+ Forbes-listed billionaires and their affiliated businesses) spanning the United States, Asia, Europe, and the Middle East. Through Intudo Ventures, Intudo leverages a concentrated portfolio strategy to invest in Indonesian homegrown tech and tech-enabled companies namely Xendit, Pintu, Pinhome, Jago, Populix and more. Intudo’s founding team has been venture investing in Silicon Valley for ~30 years, having been early venture investors in PayPal, Palantir Technologies, Affirm, Armada, Epirus, and Gecko Robotics.

For more information, please visit https://intudovc.com/

About Altos Ventures
Altos was founded in 1996 to invest in early-stage technology companies. Its investment team has worked together through both good and bad markets over multiple decades. After starting with $30 million in committed capital, Altos Ventures Management, Inc. now manages more than $10 billion in assets, supporting the full lifecycle of companies from inception to global growth and profitability. Altos has been the first and lead institutional investor in 100+ companies, with investments in both consumer and enterprise tech companies, with a particular interest in enterprise SaaS, FinTech, e-commerce, and consumer brands and services.

For more info go to www.altos.vc

About Acrew Capital
Acrew Capital is a venture firm that engages in long term partnership with world-class teams uniquely suited to solving big, challenging problems. We believe the best investment decisions are driven by a combination of depth of conviction and diversity of perspective and that investment should be tailored to the specific needs of each founding team. Acrew investment themes include Cybersecurity and Infrastructure Modernized, Financial Services Rebuilt, Work Reimagined, Data Interconnected and Community Activated/Consumer. The Acrew founding team previously worked together at Aspect Ventures. The investing team combines experience from Accel, Brown University, Google, Greycroft, Imperva, StubHub, and Yodlee. Investments by the Acrew team include At-Bay Insurance, Cato Networks, Chime, Divvy Payments, Exabeam, Finix, Pie Insurance, and HotelTonight/AirBnB. Collectively, the Acrew investing team’s track record includes 10 IPOs, over 25 successful acquisitions and over 150 rounds of follow-on capital raises, resulting in over $100 billion in market value created and over $1B in returns to our investors.

For more information visit www.acrewcapital.com.