MPower Partners
MPower Partners invests in Indonesian real estate tech startup Rukita as co-lead investor
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MPower Partners Fund (MPower), an ESG-focused global venture capital fund, has invested in Rukita, a real estate technology startup based in Jakarta, Indonesia, as a co-lead investor.
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Rukita is a technology company that builds end-to-end solutions for long-term rental housing in Indonesia. Over the past 50 years, the country has seen not only a large population concentration in Jakarta, but also rapid population growth and urbanization across the country, resulting in an increased demand for housing in terms of both quality and quantity. Although the number of housing units has increased significantly over the past 20 to 30 years, most of the housing units in large cities are either luxury apartments for high-income earners or cheap accommodation for low-income earners. In urban areas, there is an overwhelming shortage of high-quality housing that is affordable to young people in the middle-income bracket.
The core of the company’s business originates from “Kost” (so-called shared houses). The Kost business has revolutionized the annual rental market value of affordable housing targeted at millennials and Gen Z in Indonesia, which is valued at more than US$10 billion. In addition to shared houses, Rukita also offers student dormitories, apartments, and serviced housing. We act as an intermediary between landlords and tenants, supporting the landlord’s profitability and property management while providing the tenant with convenient and
well-maintained housing.
Despite being in a highly challenging technology industry, Rukita has grown beyond expectations in 2023, roughly doubling the number of real estate properties to over 600 properties and doubling the number of rooms. This result shows that the company is serious about providing affordable and high-quality housing. This is especially true for the housing needs of the younger generation.
The company now has an ecosystem of Rukita Coliving, RuPartner, Rukita Residence, Infokost.id and RuFinance, a financial service for landlords. The number of properties has reached over 50,000, a steady growth of 25% compared to the previous year. The number of rooms in 157 municipalities in 15 cities including Jakarta, Bali, and Surabaya exceeds 1.4 million, with over 50,000 registered property owners. MPower Partners recently led Rukita’s Series B in collaboration with PEAK XV. This investment is in line with MPower’s vision of
integrating ESG principles into the core strategy of fast-growing startups. As a result, Rukita becomes MPower’s first investment in the Southeast Asian market.
Rukita’s founding team has extensive expertise in business operations and the local real estate industry. We are pleased to be a partner in carrying out the company’s mission to provide affordable, quality housing to Indonesia’s next generation. Together with co-investors such as Golden Gate Ventures, Open Space Ventures, and BNI Ventures, MPower will help Rukita create even more value in terms of both financial and social impact.
■ Comments from the Rukita founding team
This partnership with MPower is a major step towards realizing Rukita’s mission to solve Indonesia’s housing crisis. Going forward, we will work with the company to make quality housing affordable for young people in Indonesia and Southeast Asia. This collaboration also enables Rukita to further strengthen its commitment to its ESG roadmap. We will continue to focus more on sustainability and inclusive solutions, ensuring business growth and positive impact on society are synonymous.
(Rukita Founder and CEO Sabrina Soewatdy)
[Image 2: https://prtimes.jp/i/79736/18/resize/d79736-18-fd509418f5d22f85d6e7-1.jpg&s3=79736-18-5e8a4b3f16383013f404ab606ce6a08f-3900×2729.jpg] Overseas releases related to this matter
https://startuprise.org/rukita-raises-15-mn-series-b1-funding/
https://technode.global/2024/03/07/indonesian-proptech-company-rukita-secures-15m-series-b1-funding/ ■ Overview of Rukita
Founded in 2019 by Sabrina Soewatdy and Sarah Soewatdy. Providing end-to-end solutions for long-term rental housing in Indonesia. The company’s services include property management, real estate marketing, real estate marketplaces, and financial solutions for landlords. Company website: https://www.rukita.co/
■ MPower Partners Fund overview
MPower Partners Fund is an ESG-focused global venture capital fund. We are a bold, global company that takes on the challenge of solving social issues through technology, based on the belief that sustainable growth and a positive impact on society and the environment will be created when startups incorporate ESG (Environment, Social,
Governance) perspectives into their strategies. We support
entrepreneurs. Our team, including the founder, has members with a wealth of experience and expertise, and we will work to make Japan’s venture ecosystem more global and diverse and generate more
innovation.
Fund website: https://www.mpower-partners.com
Contact for inquiries regarding this matter
info@mpower-partners.com
*This press release has been prepared for the purpose of providing information to qualified institutional investors and companies that are potential investment targets for the Fund, and is not a disclosure document pursuant to the Financial Instruments and Exchange Act. This does not constitute a solicitation or recommendation for an offer to purchase.
More details about this release:
https://prtimes.jp/main/html/rd/p/000000018.000079736.html