Coca-Cola Amatil, a major bottler in the Asia-Pacific region, is launching its capital venture capital (CVC) platform Amatil X in Indonesia in a bid to ride a wave of the local startup ecosystem boom that has given rise to a wide range of innovations and technologies, the company said in a press statement today.
Headquartered in Australia, the company first introduced Amatil X in Australia and New Zealand last April, and manages a multi-million dollar venturing fund, AX Ventures, which typically invests in startups in Series A funding round with the potential to scale.
The initiative in Indonesia will be scouting for technological solutions and relevant business models to support the company’s operation and innovation, focusing on four major areas, including on-demand delivery, distribution optimization, in-store analytics, as well as sustainable packaging.
“We are seeing growth in the food and beverage sector where consumer trends and technology are merging…This will benefit Amatil in Indonesia, Australia and across the region,” says Alison Watkins, the company’s managing director.
Amatil X will partner with Indonesian accelerator, Digitaraya to identify startups partners who are relevant and beneficial for Amatil’s business in Indonesia. Operations will be kicked off since this month.
Besides extending the venture capital arm to Indonesia, the F&B giant also announced the establishment of The Amatil X Academy in collaboration with Australian venture builder BlueChilli. Together, the two companies will offer a structured six-month accelerator program to build internal entrepreneurial capabilities. This partnership is part of BlueChilli’s expansion into Southeast Asia.
Indonesia has one of the fastest growing start-up ecosystems in Southeast Asia. It has a fast-growing reputation as the second startup capital of the region, which is one reason why venture capital firms are moving into the country at such a rapid pace. Just this week, Singapore-based Peer-to-Business (P2B) lending platform Validus Capital announced its formal expansion into Indonesia.
Editor: Ben Jiang