Indonesia has recently witnessed a surge of technology startups, commonly known as startups. Their growth was impressive, fueled by substantial funding from investors. However, with rapid development came intense competition, and many once-popular startups were unable to survive.

Some of the startups that ultimately shut down include Zenius, Airy Rooms, and JD.ID. The reasons for their closure varied, ranging from running out of capital to the impact of the Covid-19 pandemic.

Here are several well-known startups that eventually closed, as summarized by CNBC Indonesia:

1. Zenius

The edutech startup Zenius announced a temporary shutdown in early 2024. This online education platform, which also owns the Primagama tutoring network, cited “operational challenges” as the reason for halting its activities.

The temporary closure was officially communicated to the owners of Primagama learning centers.

“We have taken a strategic step to pause operations temporarily, but we remain committed to realizing our vision of a smart, bright, and enjoyable Indonesia,” stated Zenius in an official release.

2. Rumah.com

PropertyGuru announced the closure of its property marketplace platform, Rumah.com, in August last year. The decision affected 61 employees. CEO Hari V. Krishnan explained that the closure would be gradual, ending on November 30, 2023, while acknowledging the impact on employees and valued customers.

3. JD.ID

JD.ID officially ceased all services on March 31, 2023. The announcement indicated that the company would shift focus to developing cross-border supply chain networks, emphasizing logistics and warehousing. Orders were stopped from February 15, 2023.

4. Airy Rooms

Airy Rooms shut down operations on May 31, 2020, due to drastically changing market conditions caused by the Covid-19 pandemic. CEO Louis Alfonso Kodoatie explained that the decision considered various factors, including market pressure during the pandemic.

5. Fabelio

Fabelio, a furniture and interior design startup, was declared bankrupt on October 5, 2022, by the Central Jakarta Commercial Court. Previously, Fabelio had delayed employee salaries since October 2021 and failed to pay BPJS employment contributions since 2020.

6. Sorabel

Sorabel officially closed on July 30, 2020, due to depleted capital and difficulty raising new funds during the pandemic. An official letter stated that the liquidation process required ending all employment relationships.

7. Stoqo

Stoqo, a B2B startup supplying fresh produce to restaurants, ceased operations on April 22, 2020. The Covid-19 pandemic was the primary factor behind the shutdown. The company employed around 250 people and was supported by investors including Alpha JWC Ventures and Monk’s Hill Ventures.

8. Qlapa

Qlapa closed in 2019 due to its inability to compete with larger e-commerce platforms such as Tokopedia and Bukalapak. The startup focused on empowering local artisans and had operated for nearly four years.

9. CoHive

CoHive, a provider of co-working spaces, was declared bankrupt on January 18, 2023, by the Central Jakarta Commercial Court. Originally founded in 2015 by East Ventures as EV Hive, it served as a co-working space and community hub for startups.

10. Beres.id

Beres.id, a subsidiary of Malaysia-based Kaodim, ceased operations on July 1, 2022. Kaodim, which provided a service marketplace from AC maintenance to construction, also closed all subsidiaries in Singapore and the Philippines. Since its founding in 2015, Kaodim had raised US$17.6 million in funding.