Populix, an Indonesia-based consumer insights platform, announced today that it has raised US$1.2 million in a pre-Series A financing, led by existing investor Intudo Ventures.
Quest Ventures and a number of other strategic investors also joined the round.
Prior to this round, Populix has raised a US$1 million in seed financing led by Intudo Ventures.
The company said that it will use the proceeds to roll out new products, enhance marketing efforts, as well as for recurring.
Founded in January 2018, Populix offers a mobile-based platform that provides insights to businesses and researchers to help them better understand Indonesian consumers.
For large clients, Populix offers subscription-based customised services like brand health tracking, product launch perception auditing, customer satisfaction indexing, and more.
The company is currently developing dataset products that periodically track market movements, allowing businesses to closely follow market dynamics and consumer preferences.
It claims its technology is capable of recognising respondent invoices from across all major e-commerce players in Indonesia at a 93 per cent optical character recognition (OCR) accuracy rate.
Populix was also part of gojek’s Xcelerate programme’s second batch, which recognises outstanding female founders.
“As we roll out new products and services, Populix will be able to more accurately capture the pulse of market dynamics and create significant value for our clients. In the future, Populix will introduce even more sophisticated services for our major clients that address targeted needs while continuing to refine our mass-market offerings to open the door for more people to gain access to consumer insights products,” said Timothy Astandu, co-founder of Populix.
“Southeast Asia is fast fulfilling its potential as the epicentre of global economic growth with Indonesia as the foremost market. As global and regional brands pour resources into the region, ensnaring the growth dividend lies in sense-making the disparate markets ahead of the competition. We see that Populix has incisively deployed technology to modernise the old ‘market research’ service,” said Jeff Seah, Partner at Quest Ventures.
Image Credit: Lukas Blazek
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