Indonesian property and construction startup AMODA raises pre-seed funding led by East Ventures
Summary
AMODA, a property and construction startup in Indonesia, announced Friday that it 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 said in a statement that it will allocate the fund to scale up the manufacturing facilities, expand its team, and invest in its research and development (R&D).There will be two focus aspects for the development, including 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 technology, by bringing more features to advance the end-to-end user digital experience.AMODA is a property and construction technology company that revolutionizes the conventional process of construction. 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.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 percent faster.We are excited about how the AMODA team is bringing innovation to Indonesias 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.East Ventures is a pioneering and leading sector-agnostic venture capital firm headquartered in Singapore.