Amatil X, Coca-Cola Amatil's venture capital platform, has set up operations in Indonesia to capitalise on the region's reputation as a startup hub.
Jakarta is seen as the start-up capital of south east Asia, the company says. Data from CB Insights shows an influx of startup funding from 2013 to 2018, now worth US$7.88 billion. Group managing director Alison Watkins says the figure reflects compound annual growth of 147 per cent over five years.
“There is rapid growth in start-up and venture capital funding in Jakarta, and we aim to be part of that trend. We are seeing growth in the food and beverage sector where consumer trends and technology are merging,” Watkins says.
Amatil X will scout for startups that address Coca-Cola Amatil’s business priorities in: on-demand delivery; distribution optimisation; in-store analytics; and sustainable packaging.
Its first project is a partnership between Coca-Cola Amatil Indonesia and Digitaraya, a local accelerator program powered by Google Developers Launchpad, to support their FMCG cohort.
Amatil X launched in Australia and New Zealand in April 2018. It has invested in two start-ups so far: the cloud-based software program, Doshii and POS integrated online restaurant system, TabSquare.