Jakarta, Indonesia — Indonesia has cemented its position as one of Asia-Pacific’s emerging innovation powerhouses, with eight homegrown companies earning a spot on the Forbes Asia “100 to Watch 2025” list. The prestigious annual ranking showcases the region’s most promising small companies and startups — those with high innovation, strong market potential, and significant investor appeal.
This year’s list reflects shifting trends in the region’s economic landscape, with most featured companies focused on frontier technologies such as artificial intelligence (AI), deep tech, biotechnology, space technology, green innovation, and fintech. Collectively, the companies featured on the list have raised nearly US$3 billion in funding. According to KPMG, India leads with 18 companies, followed by Singapore and Japan (15 each), China (9), and Indonesia and South Korea (8 each).
Here are the eight Indonesian startups making headlines this year:
- BRIK – Industry & Manufacturing
Founded in 2022 by CEO Francis Anugrah, BRIK provides eco-friendly construction materials — from cement to thermal-insulating paints — serving developers from major players like Ciputra and Sinarmas Land to underserved SMEs. Its direct online ordering platform removes intermediaries for greater transparency. In May, BRIK raised US$10 million in Series A funding from Jungle Ventures, following a US$12 million pre-Series A in 2023. - Esensi Solusi Buana (ESB) – Enterprise Tech & Robotics
Founded in 2018 by Gunawan Woen, ESB offers POS, ERP, and online ordering systems for the F&B industry, with over 30,000 merchants, including Starbucks and Genki Sushi, using its services. ESB has raised nearly US$40 million, including US$29 million in a 2022 Series B round led by Alpha JWC Ventures. - Monit – Fintech
Founded in 2022 by Rizki Aditya, Monit provides corporate debit cards with real-time expense tracking, automated reporting, and reimbursement solutions. Clients include Ciputra Group and Astro. The company raised US$2.5 million in Series A funding from Cento Ventures in July 2025. - Rekosistem – Energy & Green Tech
Founded in 2021 by Ernest Christian Layman, Rekosistem delivers a digital waste management service, covering collection, sorting, and recycling with full traceability. Its solutions support ESG standards and zero-waste targets. In May 2024, Rekosistem secured US$7 million in Series A funding from Saratoga Investama Sedaya and K3 Ventures,
bringing total funding to US$12 million. - Ringkas – Fintech
Founded in 2022 by Ilya Kravtsov and Leroy Pinto, Ringkas simplifies mortgage access through a digital platform that uses AI for KYC and credit scoring. It also enables users to refinance existing loans under better terms. In May 2024, Ringkas raised US$5.1 million in pre-Series A funding to scale its platform across Southeast Asia. - Se’Indonesia – Food & Hospitality
Founded in 2022 by Rinaldi Dharma Utama, Se’Indonesia (formerly Lakuliner) specializes in se’i, a traditional smoked meat dish from eastern Indonesia. With meals starting at just IDR 25,000 and 2 million portions sold per month, the startup raised US$9.7 million in Series A funding from Insignia Ventures to expand from 2 to 30 outlets and enter overseas markets. - Skor Technologies – Fintech
Founded in 2022 by Ongki Kurniawan, Skor Technologies helps users manage their finances and credit scores via its Skorlife app. In partnership with Bank Mayapada, it launched the Skorcard credit card to boost Indonesia’s low credit card penetration (6%). The company raised US$6.2 million in pre-Series A funding in January 2025, bringing total funding above US$12 million. - Torch – E-commerce & Retail
Founded in 2015 by Ben Wirawan, Torch is a homegrown travel accessories brand selling backpacks, wallets, and other gear through online platforms and 14 retail stores. Backed by Init 6 (the venture firm founded by Bukalapak’s creators), Torch plans to expand to 50 stores and reach US$70 million in revenue by 2029.
The inclusion of these eight Indonesian companies highlights the country’s growing role in the Asia-Pacific innovation ecosystem. As global investors seek the next wave of technology-driven growth, Indonesia’s dynamic startup scene — with strengths in fintech, sustainability, e-commerce, and AI — is increasingly seen as a key driver of regional economic transformation.
Forbes’ “100 to Watch” list is more than a recognition of emerging talent; it’s a snapshot of where the future of the Asian economy is headed — and Indonesia is firmly at the centre of that story.
