The Foundry
Investments
29Portfolio Exits
3Partners & Customers
1Service Providers
1About The Foundry
The Foundry is a medical device incubator company. It provides a multi-disciplinary team to work with inventors to transform concepts into companies. It offers inventors, entrepreneurs, and investors collaboration to bring products through development, regulatory approval, and commercial release. The company was founded in 1998 and is based in Menlo Park, California.
Latest The Foundry News
Sep 12, 2023
Driving The Acceleration Of The Transition To Electric Motorcycles, Foundry And Deloitte Indonesia Launched Electric Vehicle Research English The research, titled 'An Electric Revolution: The Rise of E-Motorcycles in Indonesia,' delves into the electrifying landscape of Indonesia's electric vehicle market as the country's e-motorcycle industry gains momentum. JAKARTA, Indonesia, Sept. 12, 2023 /PRNewswire/ -- In collaboration with Deloitte Indonesia , Foundry , an ecosystem platform that connects the champions of innovation in Indonesia including enterprises, tech founders, government and regulatory bodies, as well as global partners, have released a comprehensive white paper research titled "An Electric Revolution: The Rise of E-Motorcycles in Indonesia." This research is launched along with the remarkable surge in the adoption of renewable energy in Indonesia over the past two years. This surge is underscored by a remarkable 15-fold growth in the utilization of electric motorbikes from 2020 to 2022. Richie Wirjan, Director of Foundry - Philippe Auberger, CEO Lazada Logistic Indonesia - Irwan Tjahaja, CEO & Founder, SWAP Energi, - Erwin Arifin, Director of Research, Foundry - Nindito Reksohadiprodjo, Partner, Deloitte Indonesia, - Agus Tjahajana, Special Staff to The Ministry of Energy and Mineral Resources of The Republic of Indonesia - Fadli Rahman, Director of Strategic Planning and Business Development at Pertamina New & Renewable Energy during the Press Conference and The Launch of Electric Vehicle White Paper by Deloitte Indonesia and Foundry, 12 September 2023 The launch of this research was attended by various important stakeholders in the Indonesian electric motorbike industry, including Agus Tjahajana, Special Staff of the Ministry of Energy and Mineral Resources; Philippe Auberger, CEO of Lazada Logistics Indonesia; Irwan Tjahaja, CEO & Founder, SWAP Energy; Fadli Rahman, Director of Strategic Planning and Business Development, Pertamina New & Renewable Energy; Nindito Reksohadiprodjo, Partner, Deloitte Indonesia; and Erwin Arifin, Director of Research, Foundry. This research endeavor delves into the landscape of the electric motorbike industry, offering an in-depth analysis of the choices and challenges associated with embracing electric motorbikes. This includes an exploration of charging and swapping options, a cost and infrastructure comparison across different models, and insights from the regulatory perspective. As the 3rd largest motorbike country in the world, the e-motorcycle industry in Indonesia represents a huge opportunity of $19.2 Billion from both a manufacturing and energy distribution perspective. Since 2019, the Indonesian government has continued to implement regulations to provide incentives to consumers, reduce production costs, and accelerate electric two-wheeled vehicle infrastructure to achieve its target by 2030 with a target of 31,000 charging stations, 67,000 swap stations, 30% of motorbike sales consisting of electric, and 13.5 million e-motorcycles on the road. Agus Tjahajana, Special Staff of the Ministry of Energy and Mineral Resources, remarked, "I encountered some obstacles to the adoption of electric motorbikes, including issues with battery standardization and limited mileage. However, with the integration of a battery swapping system, we can significantly expedite the transition and adoption of electric motorbikes. Therefore, we need to establish swap stations across various locations for user convenience. We cannot directly compare electric motorbikes to petrol motorbikes, which have been around for 40 years." Erwin Arifin, Director of Research at Foundry, stated, "This research aims to map the development and opportunities within Indonesia's electric motorbike industry for relevant stakeholders. As a platform ecosystem, we recognize that strong synergy is essential to collectively address challenges, provide solutions, and advance the development of the electric motorbike industry in Indonesia." Nindito Reksohadiprodjo, Partner at Deloitte Indonesia, said, "The ambitious target of reaching 13.5 million electric motorbikes has seen a remarkable 15.4-fold increase in just the past two years. Several key players in the electric motorbike industry in Indonesia have captured significant attention, with each company actively contributing to the rapid transformation of the national transportation landscape. We anticipate that this research will serve as a valuable tool for industry participants as they navigate this burgeoning sector. The transition to electric mobility not only addresses urban mobility challenges but also plays a vital role in promoting environmental sustainability." Fadli Rahman, Director of Strategic Planning and Business Development at Pertamina New & Renewable Energy, highlighted, "In the process of adopting large-scale electric vehicles, it is crucial to consider natural resource management throughout the entire lifecycle. Beyond production and use, we must plan for the utilization and recycling of batteries. This comprehensive approach ensures the sustainability of the ecosystem as a whole." Meanwhile, key catalysts for expediting EV adoption include energy distribution infrastructure, government incentives, standardization of electric motorbike batteries, as well as government carbon taxes and electric vehicle tax credits. During a panel discussion, Irwan Tjahaja, Founder & CEO of SWAP Energi, emphasized, "As pioneers in the battery swapping and electric motor industry, we are dedicated to actively participating in the realization of a greener and more sustainable Indonesia. With 1,500 swap stations spread throughout Indonesia, we aim to accelerate the deployment of 5,000 battery exchange points, facilitating the transition to a more eco-friendly mode of transportation for electric motorbike users." Philippe Auberger, CEO of Lazada Logistics Indonesia, added, "As a company committed to sustainability, Lazada recognizes the importance of electric motorbikes. We have undertaken various initiatives, including the use of environmentally friendly cardboard for shipping and targeting a 50% conversion of petrol motorbikes to electric motorbikes. Additionally, Lazada Logistics Indonesia received the B20 Sustainability 4.0 Award in the Responsible Consumption and Production (Plastics) category and has installed solar panels in its facilities." Meanwhile, the catalysts needed for faster EV adoption include: Energy Distribution Infrastructure, EV battery standardization, as well as government carbon taxes & electric vehicle tax credits. As the electric motorcycle market in Indonesia continues to grow, it is clear that these eco-friendly vehicles are here to stay. The convenience, affordability, and sustainability offered by e-motorcycles are reshaping the way Indonesians commute. Indonesia's electric vehicle landscape is charged with potential, and the rise of e-motorcycle players signals a brighter, cleaner future for the nation's urban mobility. END About Deloitte Indonesia Deloitte Indonesia are independent firms that provide auditing, consulting, financial advisory, risk advisory, tax and related services to selected clients. We are Members of the Deloitte Asia Pacific Network and of the Deloitte Global Network. Our Indonesian practice has grown rapidly over the years to its current size of over 1,700 staff with over 60 partners, two offices located in Jakarta and Surabaya. Our practice is represented by: Imelda & Rekan, Registered Public Accountants Deloitte Touche Solutions, Tax Consulting PT Deloitte Konsultan Indonesia, Risk Advisory and Assurance Services PT Deloitte Advis Indonesia, Financial Advisory Hermawan Juniarto & Partners, Lawyers Each firm is its own separate legal entity and operates independently. For further information, please visit https://www2.deloitte.com/id/en.html About Foundry Foundry , an ecosystem platform that connects the champions of innovation in Indonesia including enterprises, tech founders, government and regulatory bodies, as well as global partners, which aims to foster collaboration and grow the industry together through idea sharing, education, and business partnerships. Through its main programs, Foundry aims to foster positive collaboration towards industry growth, especially in Indonesia's technology and digital sectors. For further information, please visit www.foundry.id PRESS CONTACT
The Foundry Investments
29 Investments
The Foundry has made 29 investments. Their latest investment was in Prepare Your Mind as part of their Seed VC on February 2, 2022.
The Foundry Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
|---|---|---|---|---|---|---|
2/23/2022 | Seed VC | Prepare Your Mind | $2M | Yes | 1 | |
3/19/2020 | Series E | Fractyl Health | $55M | Yes | 4 | |
2/19/2019 | Unattributed - II | Hat Trick Medical | $1M | No | 1 | |
5/24/2017 | Unattributed | |||||
4/28/2015 | Series C |
Date | 2/23/2022 | 3/19/2020 | 2/19/2019 | 5/24/2017 | 4/28/2015 |
|---|---|---|---|---|---|
Round | Seed VC | Series E | Unattributed - II | Unattributed | Series C |
Company | Prepare Your Mind | Fractyl Health | Hat Trick Medical | ||
Amount | $2M | $55M | $1M | ||
New? | Yes | Yes | No | ||
Co-Investors | |||||
Sources | 1 | 4 | 1 |
The Foundry Portfolio Exits
3 Portfolio Exits
The Foundry has 3 portfolio exits. Their latest portfolio exit was TWELVE on August 25, 2015.
The Foundry Partners & Customers
1 Partners and customers
The Foundry has 1 strategic partners and customers. The Foundry recently partnered with Mercedes-Benz on October 10, 2015.
Date | Type | Business Partner | Country | News Snippet | Sources |
|---|---|---|---|---|---|
10/1/2015 | Partner | Germany | Mercedes-Benz, with The Foundry, brings Hollywood into the vehicle Being present in the Silicon Valley , Mercedes-Benz identified this state of the art digital technology and initiated a partnership with with The Foundry . | 1 |
Date | 10/1/2015 |
|---|---|
Type | Partner |
Business Partner | |
Country | Germany |
News Snippet | Mercedes-Benz, with The Foundry, brings Hollywood into the vehicle Being present in the Silicon Valley , Mercedes-Benz identified this state of the art digital technology and initiated a partnership with with The Foundry . |
Sources | 1 |
The Foundry Service Providers
1 Service Provider
The Foundry has 1 service provider relationship
Service Provider | Associated Rounds | Provider Type | Service Type |
|---|---|---|---|
Other Investors | Investment Bank | Financial Advisor |
Service Provider | |
|---|---|
Associated Rounds | Other Investors |
Provider Type | Investment Bank |
Service Type | Financial Advisor |
Partnership data by VentureSource
The Foundry Team
5 Team Members
The Foundry has 5 team members, including current Chief Executive Officer, Managing Partner, Hanson S Gifford.
Name | Work History | Title | Status |
|---|---|---|---|
Hanson S Gifford | Chief Executive Officer, Managing Partner | Current | |
Name | Hanson S Gifford | ||||
|---|---|---|---|---|---|
Work History | |||||
Title | Chief Executive Officer, Managing Partner | ||||
Status | Current |
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