Indonesia’s leading early-stage angel investment network, ANGIN, has announced two strategic investments: Acronesia, an agritech startup, and Collabit, a marine biotech startup, while Thailand’s insurtech Rabbit Care has acquired GluayGluay.com, an online motor insurance distribution.
ID’s angel network ANGIN invests in two startups
ANGIN (Angel Investment Network Indonesia), Indonesia’s leading early-stage angel investment network, has announced two strategic investments—in Acronesia, an agritech startup, and Collabit, a marine biotech startup—through its WiraUsaha programme, backed by the Koalisi Ekonomi Membumi (KEM).
Founded in 2020 in Bengkulu, Arconesia addresses the challenges of palm oil replanting by introducing climate-smart intercropping, particularly watermelon cultivation, during the typically unproductive replanting phase.
This approach allows farmers to earn additional income, improves soil health through organic ground cover, and naturally suppresses weeds—reducing input costs and enhancing palm growth. The model also creates job opportunities for rural women and optimises existing land use to prevent further deforestation.
Through its digital platform, Arconesia provides streamlined onboarding, access to financing, agronomist training, and guaranteed market offtake, enabling smallholders to transition to more sustainable and resilient farming practices.
“Arconesia stood out for its practical, inclusive approach to transforming palm oil landscapes. It reimagines sustainability in a way that’s locally grounded and scalable—precisely the kind of innovation WiraUsaha and KEM were created to support,” said David S. Soukhasing, managing director at ANGIN, in his LinkedIn post.
Meanwhile, Collabit, founded in Bitung, North Sulawesi in 2019, taps Indonesia’s marine sector’s untapped value by transforming fish by-products into high-value marine ingredients, such as marine collagen, jelly drinks, and fish peptides (organic biostimulants), reducing waste while creating new income streams for coastal communities.
By applying circular economy principles, the startup promotes sustainability in fisheries, supports local supply chains, and replaces chemical inputs in agriculture with natural, marine-based alternatives.
ANGIN’s investment will enable Collabit to expand production capacity to meet rising demand, accelerate product innovation through R&D, strengthen supply chains to benefit local fisherfolk, and advance sustainable marine processing practices aligned with environmental goals.
“We’ve followed Michella I.’s [Collabit’s founder] journey for over a decade. Her deep roots in coastal communities and her vision for a resilient blue economy made Collabit a natural fit. Her unwavering dedication to impact exemplifies the values we aim to support,” added Soukhasing.
Thai’s insurtech Rabbit Care buys GluayGluay.com
Rabbit Care, a direct-to-consumer insurance comparison platform under Thailand’s BTS Group, has acquired GluayGluay.com, an online motor insurance distribution.
The move further consolidates Rabbit Care’s position in Thailand’s fragmented insurance brokerage industry and advances its mission to modernise the sector.
GluayGluay.com, which built a loyal following among digital-first motor insurance buyers, brings with it a database of over 100,000 motor insurance inquiries. The acquisition will allow Rabbit Care to integrate GluayGluay’s users into its proprietary CareOS platform, enabling faster comparisons, more tailored services, and greater operational efficiency.
“With this acquisition, Rabbit Care strengthens its leadership in modernizing Thailand’s insurance brokerage sector. We are scaling innovation, expanding access to personalized insurance solutions, and delivering faster, simpler, and more transparent experiences—shaping a smarter, more digital, and customer-driven future for the industry,” said Michael Manfred Steibl, Rabbit Care’s co-founder and CEO, in a statement.
All active GluayGluay.com policies will remain in force, with customers gaining immediate access to Rabbit Care’s broader suite of offerings and support from over 400 licensed insurance agents via phone and chat.
This marked Rabbit Care’s third brokerage acquisition, following Asia Direct Broker in 2021 and EasyCompare in 2023. The company said it will continue to pursue strategic acquisitions to further consolidate the industry and expand consumer access to tech-enabled insurance services.
Thailand’s insurance brokerage landscape is still highly fragmented, with around 800 licensed players. Smaller brokers face mounting pressures from leadership succession issues, digital transformation costs, and tightening compliance under data protection regulations such as the Personal Data Protection Act (PDPA) and rising digital transformation costs.
Meanwhile, consumer demand continues to shift online, particularly for motor and health insurance. The digital insurance market in Southeast Asia is expected to triple in size—from $2.4 billion in 2024 to $7.5 billion by 2030—driven by a CAGR of roughly 20%, according to the latest e-Conomy SEA report by Google, Temasek, and Bain & Company.
