JAKARTA — This year has been a rollercoaster for the startup community in Indonesia, with nearly a dozen tech enterprises shutting shop amid a prolonged “funding winter” and a challenging business landscape.
Many startups have had to resort to drastic measures, including massive layoffs, to extend their runway and stay afloat. As the challenges deepened, several homegrown startups faced the harsh reality of shuttering their operations, while regional companies opted to exit the competitive landscape.
