JAKARTA, 30 January 2023 - Imajin, a manufacturing startup based in Tangerang, Indonesia, announced that it has secured seed funding led by East Ventures, along with the participation of Plug and Play APAC, and other investors and angels.
Imajin will allocate this funding to develop its products and services, improve recruitment, and expand its domestic and international market coverage.
“We are pleased to receive trust from investors in this funding round. We believe this funding will strengthen us in maximizing the potential of small and medium manufacturing enterprises (SMEs). We will continue to improve the quality of our platform and services for every vendor that partners with Imajin." said Chendy Jaya, Co-Founder and CEO of Imajin
Imajin was founded by Chendy Jaya (Chief Executive Officer), Stefanus Hodir (Chief Marketing Officer), and Joseline Olivia (Chief Product Officer), and has the mission to become a digital creative manufacturing ecosystem. Imajin offers various types of production in the manufacturing industry, such as mold and dies manufacturing, metal and plastic parts production, raw materials trading, fabrication, and mass production. At the same time leveraging the manufacturing ecosystem, such as small to medium players.
Imajin is committed to continuously supporting manufacturing SMEs to scale and develop by offering assistance to manufacturers in developing new products from prototypes to ready for mass production. Imajin ensures high-quality production results by implementing a standardized quality assurance process and offering an efficient project management experience through Software as a Service (SaaS) solutions.
Imajin plays an active role in advancing manufacturing SMEs through the digitization process and creates a connected network between players to increase collaboration. Understanding the manufacturers' diverse needs, Imajin also facilitates the purchase of raw materials through the marketplace with flexible payment options.
“We are delighted to welcome Imajin to East Ventures’ family. We hope that Imajin is present not only as the right solution for the manufacturing industry, but also performs an active role in supporting the development of the industry, and the digital ecosystem as a whole. We are excited to further experience the positive development from Imajin in the future,” said Melisa Irene, Partner at East Ventures.
Imajin Achievements along with The Development of Indonesia's Manufacturing Industry
According to data from the Coordinating Ministry for Economic Affairs of the Republic of Indonesia in 2022, the non-oil and gas processing industry has grown 4.88% (YoY) and contributed 16.10% to GDP. Meanwhile, the growth of the automotive industry itself has outgrown Indonesia's national economic growth. As for manufacturing, utilization of motor vehicles in October 2022 achieved 69.20% which is a 40% increase in comparison to during the pandemic period.
Unlock the potential of domestic production with Imajin. Our expertise in the automotive sector and experience working with over 500 manufacturing companies, including local and Japanese businesses, has led to a positive performance in the industry. Rely on Imajin to help your manufacturing business recover and thrive amid uncertain global conditions.
In June 2022, Imajin was invited by the Embassy of The Republic of Indonesia in Tokyo and the Ministry of Industry of the Republic of Indonesia as a business delegation to represent Indonesia at the “Indonesia - Japan Auto Parts Business Forum”. This business forum is aimed to connect Imajin with Japanese enterprises. Manufacturing SMEs that are members of Imajin are expected to collaborate. Through the official agenda of the forum, Imajin was also exploring cooperation opportunities with several Japanese business associations, including the Central Japan Economic Federation (Chukeiren), and JETRO Nagoya.
In 2021, Imajin was also selected as one of the participants in the Startup Studio Indonesia accelerator program organized by the Ministry of Communication and Informatics of the Republic of Indonesia. Imajin was also appointed by the Ministry of Industry as Indonesia's one and only manufacturing hub to boost technology and competitiveness in industry 4.0.
Moving forward, Imajin will expand its coverage to other cities in Indonesia, as an effort to support local manufacturers, especially in the automotive industry.
About Imajin Established in 2019, Imajin is a manufacturing startup that acts as a platform provider that connects small and medium manufacturers with customers. Imajin also offers solutions to the manufacturing industry by providing Quality Assurance services, a platform for project management, and raw materials that have obtained mill sheet certificates and can be bought in any quantity. Services offered in the Imajin platform include mold & dies manufacturing, metal and plastic parts production, raw materials trading as well as fabrication and mass production. Imajin can also help to develop new product ideas from prototypes to ready-to-mass-produced products. Imajin increases local production by helping small and medium industries (IKM) to connect to each other and ensuring that the product qualities fit international standards.
For further inquiries: Melisa Aprilia, Digital Marketing Specialist & Public Relations, Imajin, melisa@imajin.id
About Plug and Play APAC
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 30 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 30,000 startups and 400 official corporate partners, we have created the ultimate startup ecosystem in many industries. Companies in our community have raised over $9 billion in funding, with successful portfolio exits including Danger, Rappi, Dropbox, Lending Club and PayPal.
Imajin is one of our portfolio startups in Plug and Play APAC. As an in-house venture capital, our goal is to fund the teams that are building the defensible businesses of the future. By leveraging our capital, our network of VCs, and our corporate partners, we give our portfolio companies an added advantage. Join our platform today!
