Otoklix, a company based in Indonesia, has reported significant annual growth and is on the verge of becoming profitable. The company has also revealed its strategy to play a central role in the country’s upcoming electric vehicle infrastructure upgrade.
Established in 2019, Otoklix is reshaping Indonesia’s automotive aftermarket, a sector that has traditionally suffered from fragmentation and inefficiency. Over the past two years, this tech startup has consistently achieved a 2x increase in revenue year-over-year and substantial double-digit growth in unit economics, outpacing its revenue growth and reaching profitability within just 12 months.
The Indonesian automotive aftermarket is one of Southeast Asia’s largest, estimated by Otoklix to be valued at approximately US$16 billion. Despite its impressive growth, the industry faces numerous challenges. Servicing and repairing cars in Indonesia has historically been a cumbersome process.
Authorised dealers struggle with high costs and long waiting times, while independent workshops, which dominate 80% of the market, grapple with issues like fraud, lack of standardisation, and poor after-sales service. Many of these independent workshops still rely on manual, paper-based methods for transaction management, hindering their own growth and profitability.
With early support from AC Ventures, Otoklix has taken proactive steps to address these industry challenges. The platform offers vehicle owners a simplified, standardised, and transparent process for vehicle maintenance.
Users can easily find and access services at recommended nearby independent workshops and receive warranties for transactions at Otoklix-partnered locations. For the workshops themselves, Otoklix provides robust customer relationship management and supply chain management software solutions, resulting in substantial improvements in revenue, profit margins, and operational efficiency.
Otoklix’s financial performance matches its technological advancements, with the company poised to achieve profitability within a year. These solid financial fundamentals underscore the effectiveness of its business model and the strong demand for its services.
Looking ahead, Otoklix has ambitious plans. This includes the establishment of its own workshops to boost profit margins and exploring business-to-business solutions, including partnerships with corporate clients like Indonesia’s state-owned Telkom Group.
On the technology front, the company is developing a proprietary AI stack to automate data processes and diagnostics, enhancing workshop efficiency. Importantly, Otoklix is positioning itself as a pioneer in Indonesia’s electric vehicle aftermarket, with a focus on preparing and educating workshop teams to service electric motorbikes.
Additionally, Otoklix has entered into a strategic partnership with Pertamina, Indonesia’s state-owned oil and natural gas corporation, to reintroduce the Bright Olimart service chains across Pertamina Petrol Stations. This partnership is expected to expand Otoklix’s reach and provide added convenience and assurance for vehicle owners nationwide.
Otoklix’s success story goes beyond business achievement; it serves as a prime example of how digital transformation can rejuvenate traditional industries. It signifies the Indonesian market’s readiness for technological innovations that address real consumer pain points while empowering traditional sectors with the tools needed for modern competitiveness.
The company’s impressive growth metrics provide compelling evidence of its alignment with market demands.
Martin Reyhan Suryohusudo, co-founder and CEO of Otoklix, said, “In just two years, Otoklix has achieved remarkable year-over-year topline growth, and the data confirms that there is significant untapped potential in Indonesia’s automotive aftermarket.
“We don’t see challenges like lack of standardization and inefficiencies as obstacles but as opportunities. Opportunities to introduce transformative digital solutions that not only streamline vehicle maintenance for owners but also drive operational excellence for independent workshops.
“Our double-digit positive unit economics signal that we are on the right path, and this is just the beginning. As we move towards profitability, we are gearing up to capture a larger market share and set new industry standards, making Otoklix synonymous with automotive care in Indonesia.”
