Gravel Secures US$14 Million to Date From East Ventures, Among Other Strategic Investors

Gravel, the leading construction technology company in Indonesia, raised US$14 million to date from investors including New Enterprise Associates (NEA); Weili Dai, Co-Founder Marvell Technology Group; Lip-Bu Tan, Executive Chairman of Cadence Design System and Chairman of Walden International; SMDV; East Ventures; along with other strategic investors. This significant backing strengthens Gravel’s ability to broaden its presence within the global construction technology sector.

Gravel’s journey began in 2019 as an app to connect customers with skilled construction
workers. The company’s significant 45x revenue growth between 2020 and 2022 is supported by a solid community of 1.7 million workers and strong collaborations with architects, contractors, and material suppliers, as well as with the government fostering certified construction worker standards. With over 6,000 projects across 20 provinces, Gravel’s portfolio ranges from major ventures such as LRT Jabodebek (Greater Jakarta Light Rail Transit), Jakarta International Stadium, Pelni Hospital, and the Keong Mas IMAX Theatre to local construction projects that touch the daily lives of Indonesians.

Over time, Gravel aims to extend its capacity to help anyone build, renovate, and repair living, working, and recreational spaces efficiently by using technology to connect customers to not only qualified construction workers, but also tools, building materials, and experts.

The company has rolled out four transformative features in the app to address industry demands for holistic services: Gravel Construction (for hiring daily construction workers), Gravel Borongan (for construction with lump sum contract), Gravel Maintenance (for instant home fixing and repairing services), and Gravel Material (for tools and materials procurement).

All features will be connected with the Gravel-developed SalamChat—a secure, fast, and reliable instant messaging app to facilitate smooth communication and collaboration among involved parties. As the Co-Founder and Chairman of Gravel, Dr. Nicholas Sutardja is a driving force behind the company, imbued with unwavering confidence in Gravel’s mission and vision.

He said, ”Our innovative strategy is not only about revolutionizing the industry but also about uplifting the lives of Indonesian construction workers across the country. I am extremely proud of Gravel’s accomplishments, as this is more than a business endeavor, it’s a mission with high social impact. Indonesia is just the beginning and the impact it brings can span globally,”

Georgi Ferdwindra Putra, Co-Founder and Co-Chief Executive Officer of Gravel stated “Through leadership and innovations, Gravel has broadened its horizons to manage the full spectrum of the construction process. From allocating architects or design studios to create building designs and drawings; selecting contractors suitable to licenses, permits, and budget allocation, deploying Gravel-verified workers of any trade skills, offering construction materials and tools throughout the process, all the way to providing maintenance service as buildings come to life to ensure they remain pristine—we empower
owners and contractors across every stage of the construction process.”

In its pursuit to revolutionize Indonesia’s construction sector, Gravel has harnessed the power of technology. Their smart matching technology called Personalized Job Feed is streamlining the process of connecting the right construction workers with projects, ensuring high-quality worker allocation in as fast as one and a half minutes, a significant leap from the conventional 5 – 14 days.

This not only accelerates the construction process but also substantially reduces costs.
Beyond this, Gravel’s data platform facilitates real-time analysis of project activities, enabling data-driven decision-making. Looking ahead, Gravel is set to roll out a predictive model designed to monitor the progress of construction projects efficiently. “Bridging technology and construction amplifies value and potential,” remarked Fredy Yanto, Co-Founder and Co-Chief Executive Officer of Gravel.

“Our solutions, underpinned by AI, pave the way for heightened accuracy and efficiency. By combining our tech-driven platform with an amazing pool of tech talent, we aspire to simplify the construction process of high-rise buildings, making it as seamless as checking out on an e-commerce platform.”

With Indonesia’s large market and the steady growth of the construction industry, Gravel’s
strong and consistent growth has become a major attraction for investors. This environment, marked by Gravel’s solid performance and ongoing expansion, offers a very appealing investment opportunity.

“We believe there is strong talent and potential in Southeast Asia, and have been keeping an eye on the region for relevant investment opportunities,” said Carmen Chang, Partner and Chairman and Head of Asia, NEA.

“Gravel is our first Southeast Asia investment and we’re excited about the company’s potential to elevate Indonesia’s construction industry through technology. We believe in the team’s drive to impact Indonesia as well as the global construction industry and look forward to partnering with them as they continue to build on their existing traction.”

Edward Judokusumo, Principal at SMDV stated, “In Gravel, we see the embodiment of
Indonesia’s digital future in construction. As Indonesia actively pursues even distribution of its developmental efforts across all provinces, Gravel’s technology emerges as a supporter and a driving force that can substantially amplify this nationwide growth. Gravel will become the key ally in promoting a growing Sinarmas ecosystem, through modern, sustainable construction practices that respond to evolving Sinarmas’ business developments. This approach not only aligns with the core values but also serves as a catalyst for progress in Sinarmas’ various sectors.”

Gravel is currently engaged in discussions with several renowned companies regarding potential construction projects, including Sinarmas Land, the large and diverse property
developer in Indonesia behind the BSD City, Kota Deltamas, and Grand Wisata development projects.

These ventures will encompass diverse areas such as residential zones, commercial spaces, hospitality structures, convention centers, and industrial complexes. As Gravel eyes global expansion, the company remains confident that its technological solutions have the potential for broader, global implementation, reinforcing its preparedness to make a mark on the international construction tech landscape.

Gravel consistently welcomes diverse partnerships, from minor to grand-scale projects, such as establishing public facilities, restaurant chains, retail spaces, and pivotal roles in projects for Indonesia’s emerging national capital, Nusantara Capital City (IKN). Central to these projects is Gravel’s commitment to offer comprehensive support to customers at every phase of the construction journey.

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