28 min
Ep.10 - Astro adds rocket fuel to Indonesia's US$207B grocery space Indonesia Digital Deconstructed by AC Ventures
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- Investing
Today, we kick off a series of episodes focused on female founders in Indonesia. Hosted by Helen Wong, Managing Partner at AC Ventures, we are joined by Jessica Stephanie Jap, co-founder and COO of Indonesia's top quick commerce startup Astro.
Research suggests that online grocery penetration, within the country's overall US$207 billion grocery market, will exceed 3% by the end of 2026. While multiple unicorns in Southeast Asia have tried and failed to crack the sector in Indonesia (and recreate giant success stories from developed markets like China, the US, and India), newcomer Astro is standing out from the crowd. Having raised over US$90 million from blue-chip venture capital firms like Tiger Global, Accel, and AC Ventures, Astro has outraised its competitors by 10x while on its mission to deliver groceries to doorsteps within 15 minutes.
In this episode, Jessica and Helen discuss what it takes to run a hyperlocal, super-fast delivery service in a market like Jakarta, where debilitating street traffic and infrastructure woes make it extra challenging. The pair also unpack Jessica's journey as a female entrepreneur in Indonesia and what it will mean to the next generation of startup founders.
In official support for gender equality in the workplace, AC Ventures has formally committed to the International Finance Corporation’s Invest2Equal program, as well as the United Nations Women’s Empowerment Principles and its Principles for Responsible Investment.
Today, we kick off a series of episodes focused on female founders in Indonesia. Hosted by Helen Wong, Managing Partner at AC Ventures, we are joined by Jessica Stephanie Jap, co-founder and COO of Indonesia's top quick commerce startup Astro.
Research suggests that online grocery penetration, within the country's overall US$207 billion grocery market, will exceed 3% by the end of 2026. While multiple unicorns in Southeast Asia have tried and failed to crack the sector in Indonesia (and recreate giant success stories from developed markets like China, the US, and India), newcomer Astro is standing out from the crowd. Having raised over US$90 million from blue-chip venture capital firms like Tiger Global, Accel, and AC Ventures, Astro has outraised its competitors by 10x while on its mission to deliver groceries to doorsteps within 15 minutes.
In this episode, Jessica and Helen discuss what it takes to run a hyperlocal, super-fast delivery service in a market like Jakarta, where debilitating street traffic and infrastructure woes make it extra challenging. The pair also unpack Jessica's journey as a female entrepreneur in Indonesia and what it will mean to the next generation of startup founders.
In official support for gender equality in the workplace, AC Ventures has formally committed to the International Finance Corporation’s Invest2Equal program, as well as the United Nations Women’s Empowerment Principles and its Principles for Responsible Investment.
28 min