AMODA, a property and construction startup raised pre-seed funding led by East Ventures
July 8, 2022
AMODA, a property and construction startup in Indonesia, has secured an undisclosed amount of pre-seed funding from East Ventures, the leading sector-agnostic venture capital firm in Indonesia and Southeast Asia.
AMODA was founded by Robin Yovianto, Co-Founder & Chief Executive Officer of AMODA and Agusti Salman Farizi, Co-Founder and President of AMODA. It all started when the two co-founders realized how construction as one of the largest markets in the world is still yet least digitized. It is also filled with some ongoing problems, such as shortage of skilled laborers, lack of transparency and reliability of the specification, supervision, and documentation, as well as no standardization of materials, budget, & time estimation. These problems have led to high-risk execution, time & cost inefficiencies, and unpleasant overall experiences.
AMODA revolutionizes the conventional process of construction and eliminates problems by simplifying the process through digital technology integration, which resulted in hassle-free, cost-effective, and time-efficient construction experiences and solutions. AMODA provides building solutions that cater to the needs of individuals and businesses in Indonesia, from SMEs, high growth, to large enterprises. AMODA offers optimum efficiency and flexibility of the building, which can be moved and expanded as needed. It has brought meaningful impacts for anyone in starting a business, as it provides the users with lower risk as they can do trial and error; move from one location to another.
“The commercial construction sector has long existed, which comes with big potential as well as some on-going problems for the last century. AMODA is here to serve as the solution to revolutionizing this sector, by providing better integration of construction and technology. We believe we are at the forefront of moving people to a better life through peace of mind assurance. The fund from East Ventures will accelerate our mission of bringing more social and economic impacts to Indonesia,” said Robin Yovianto, Co-Founder and Chief Executive Officer of AMODA.
AMODA will allocate the fund to scale up the manufacturing facilities, expand its Team, and invest in its Research & Development (R&D). There will be two focus aspects for the development, including (1) the products by expanding the limit of construction assets, creating more products to cater to different needs, and achieving products that are more time and cost savings, and (2) technology, by bringing more features to advance the end-to-end user digital experience.
“We are excited about how the AMODA team is bringing innovation to Indonesia’s property design and construction market. AMODA founders have strong relevant experience locally and globally, which makes us confident that the era for a more efficient way to build property in Indonesia is coming in a big way,” said Melisa Irene, Partner of East Ventures.
Until the mid of 2022, AMODA has been able to triple its revenue compared to the previous year. It was also combined with the growth in terms of the users’ adoption, by acquiring clients 50% faster.