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One example is Fairbanc , which is based in Singapore but focused on Indonesia. Fairbanc will use its new funding on expanding in Indonesia, and exploring new markets like Vietnam and the Philippines in partnership with Unilever. As a result, Fairbanc decided to pilot with Unilever in Indonesia instead.
ByteDance’s TikTok wants to do more business in Indonesia — Southeast Asia’s biggest e-commerce market. So after facing roadblocks from the regulators, it’s now come up with a new route to get there. TikTok is putting up $1.5
Chamber of Commerce with support from Business Roundtable — has announced commitments in support of COVID-19 pandemic relief and response efforts in Indonesia and Southeast Asia. Indonesia now accounts for approximately one in five fatalities globally as it struggles with shortages of oxygen and hospital capacity.
HappyFresh , the on-demand grocery app based in Indonesia, announced today it has raised a $65 million Series D. with participation from STIC, LB and Mirae Asset Indonesia and Singapore. It expanded into five markets before shutting down its operations in Taiwan and the Philippines in 2016.
Legit Group, a cloud kitchen brand operator based in Jakarta, has its eyes on the rest of Indonesia after raising a $13.7 The round was led by MDI Ventures, the venture capital arm of PT Telcom Indonesia Tbk, the largest telecom conglomerate in Indonesia. Other cloud kitchen startups in Indonesia include Yummy and Hangry.
Intudo Ventures , the “Indonesia-only” investment firm, announced today it has closed its third fund, totaling $115 million. Intudo founding partners Patrick Yip and Eddy Chan launched the firm in June 2017 as the first Indonesia-only venture capital firm, with a debut fund of $10 million.
RaRa Delivery ’s ambitious goal is to offer same-day deliveries in Indonesia without burning cash like many on-demand logistics providers. RaRa Delivery’s goal is to integrate with all major marketplaces in Indonesia, so sellers can offer it as a delivery option to customers. The company announced today it has raised $3.25
Even the largest landfills in Indonesia are at (or nearing) capacity , and the government has set an ambitious target of 30% waste reduction by 2025. Sustainability is the team’s main focus, with a demonstrated commitment to building a better future for Indonesia. Founded in 2014, Waste4Change has seen a CAGR of 55.1%
Rey was founded this year by Evan Tanotogono, former head of digital channel at Sequis, one of Indonesia largest insurers, and Bobby Siagian, who held lead engineering roles at companies including Tokopedia and Sea Group. They created Rey to address the low penetration of life and health insurance in Indonesia.
The funding will be used for hiring, with plans to expand Atma’s headcount from about 30 employees to 100, product development and its go-to-market strategy. . The platform targets the lower and middle-income segment of the working-age population in Indonesia, or people earning less than 10 million IDR a month (or about $700 USD).
More than half of the population in Southeast Asia is under 30 , making it a coveted market for novel technologies. Indonesia is “catching up” on web3 because its huge talent pool still rests in the Web 2.0 “With so much money coming into crypto, why isn’t much [web3] creativity coming out of Indonesia?”
Spotify says Anchor’s top five markets in 2020, by total number of shows, were the US, Brazil, Indonesia, Mexico, and Great Britain. In Indonesia, Spotify signed nine shows to become exclusives. Spotify itself had another big podcasting year.
Indonesia-based insurtech startup Fuse announced today it has secured $25 million of Series B extension round as it plans to enter more countries including Thailand and Vietnam in Southeast Asia. Fuse claims it currently has more than 60,000 marketers or agent partners using the Fuse Pro mobile app.
Bibit , a robo-advisor app that wants to make investing more accessible in Indonesia, has raised $30 million from Sequoia Capital India. Other investment apps in Indonesia tapping into growing demand for retail investment producgts include Bareksa and SoftBank Ventures-backed Ajaib.
Ajaib Group , an online investment platform that says it now runs the fifth-largest stock brokerage in Indonesia by number of trades, announced it has raised a $25 million Series A led by Horizons Ventures, the venture capital firm founded by Li Ka-Shing, and Alpha JWC.
We proudly welcome NGO partners Vietnet-ICT and the Lin Centre in Vietnam, as well as ASEAN Foundation , Kopernik Marketplace , and YCAB Foundation in Indonesia to the TechSoup Global family. They are all part of TechSoup Asia , which serves charities in the Philippines, Malaysia, Singapore, Thailand — and now Vietnam and Indonesia.
Chinese automaker Neta announced on August 10 a plan to sell its electric vehicles in Indonesia from the fourth quarter of this year. This marks Netas debut in Indonesia, having previously expanded to Thailand, Malaysia, and other ASEAN countries. Neta statement, in Chinese ]
Part of the funding will be used to expand into new markets, like Thailand, Malaysia and Vietnam. Xendit now has over 3,000 customers, including Samsung Indonesia, GrabPay, Ninja Van Philippines, Qoala, Unicef Indonesia, Cashalo and Shopback. In Indonesia, if you subscribe to HBO, the experience is extremely high-friction.
SiCepat , an end-to-end logistics startup in Indonesia, announced today it has raised a $170 million Series B funding round. The logistics industry in Indonesia is highly fragmented , which means higher costs for businesses. Waresix acquires Trukita to connect more of Indonesia’s fragmented logistics chain.
Una, one of the largest e-commerce aggregators in Asia, has already established its presence across Asia, including Singapore, Australia, India, China, Indonesia, Malaysia and Taiwan, since its launch in 2021. . The e-commerce market of South Korea is expected to increase up to $250 billion by 2025.
Chinese automaker Great Wall Motor (GWM) announced its entry into the Indonesian market on August 28. GWM began its ASEAN market expansion in 2021 and entered Vietnam, Singapore, and Indonesia in August 2023.
Food Market Hub co-founders Anthony See and Shayna Teh. Malaysia-based Food Market Hub is a cloud-based platform that connects food and beverage (F&B) outlets directly to suppliers, making it easier to communicate and manage orders. This brings Food Market Hub’s total funding to $4.7 million so far.
One Impression, an Indian influencer marketing platform that does business in markets including Indonesia, Dubai, Europe and the U.S., The Gurugram-based startup is building an Amazon-like platform to help brands quickly find relevant influencers for their marketing campaigns.
The funding will be used on hiring, enhancing Evermos’ recommendation engine and other AI-based tech, and entering new regions in Indonesia. Its goal is to reach more than one million resellers throughout Indonesia over the next five years. For example, it has to be halal, if it’s fashion it has be modest fashion.”.
The new funding will be used to expand in Indonesia and develop new distribution channels, including insurance agents and SMEs. Insurance penetration is still relatively low in many Southeast Asian markets , including Indonesia, but the industry is gaining traction thanks to increasing consumer awareness.
Chinese automaker Geely denied rumors that the company was planning to build a factory in Indonesia, according to a September 17 report by Chinese tech news site IThome.
But in markets like Indonesia, many still use digital wallets or e-commerce platforms, creating alternative sources of user data that can help them secure working capital and other financial tools. Once it completes the program, it will be able to partner with more fintech companies in Indonesia, including bigger institutions.
The funding will be used to expand in the Asia-Pacific region, including Indonesia, the Philippines, Malaysia and Indonesia, and to add new features in response to demand from hospitals and healthcare organizations during COVID-19. Bot MD was also part of Y Combinator’s summer 2018 batch.
Now it’s set a goal of investing in 100 more startups with the launch of its second emerging market seed-stage fund, called Seedstars International Ventures II (SIV), with a first close of $20 million. We’re really looking to diversify holdings, leveraging learnings from one market to another,” said Sosrodjojo.
The other one is expanding out to fintech companies—for example, there’s been a big uptick in Indonesia, especially accounting platforms. Suddenly the malls are closed, so we’ve been able to sign some of the bigger retail outlet groups in the market as well.”.
To get more data for its latest Southeast Asia Tech Talent Compensation report, which covers startup hiring in Singapore, Indonesia and Vietnam, Monk’s Hill Ventures teamed up with Glints , one of its portfolio companies. Commercially in Southeast Asia, you can’t stay in a single market unless it’s maybe Indonesia,” said Yeo. “If
Wagely says its user base grew 10x year over year in 2021, with clients including British American Tobacco, Ranch Market, Adaro Energy and Medco Energi. Wagely also received backing from Central Capital Ventura, the venture capital arm of Bank Central Asia (BCA), one of Indonesia’s largest private banks. pre-Series A.
In Indonesia, there are 33 million farmers and the majority are aged over 45 years. If nothing changes, within 10 years Indonesia will experience a farmer regeneration crisis.”. Finally, Agri Output is a market price system for use during the crop distribution process. Eratani’s team. Image Credits: Eratani.
But founder Matthew Joseph Martin soon realized that the startup, backed by investors like Boost VC and Tim Draper, was serving a relatively niche market in the States. So he started researching markets with large populations of Muslim people. Indonesia emerged as the best choice. Meanwhile in Malaysia, where 61.3%
Socar , South Korea’s largest car-sharing startup, tumbled in its Seoul stock market debut Monday even after pricing shares below the bottom end of a marketed range. Socar’s debut comes amid a sluggish period in the IPO market in South Korea that has prompted a series of Korean companies to delay their listing plans.
Beam, which currently operates e-scooters and e-bikes in 35 cities across Malaysia, Thailand, South Korea, Australia and New Zealand, aims to spread into markets like Japan, Indonesia, the Philippines, Vietnam and Turkey. . Advanced rider assistance systems: Tech spawned by the politics of micromobility.
The startup, which claims to run the fourth largest stock brokerage in Indonesia based on number of trades, announced the $25 million first closing of its Series A in January. In Indonesia, less than 1% of the population own stocks , but that number is increasing, especially among millennials.
The company offers a complete spectrum of e-commerce support services for direct-to-consumer (D2C) brands, from making a website, setting up a payment system, and managing marketing to handling shipping, warehousing, and logistics. Approximately 200 D2C brands have already started using Plugo’s beta service in Indonesia.
It’s good momentum for us to launch new products and grab the market.”. While the rate of retail investment in Indonesia is still low, its growing quickly because of a confluence of factors , including people’s desire to diversify and increase their assets during the pandemic. million public equity investors in the country.
BukuWarung , a fintech focused on Indonesia’s micro, small and medium enterprises (MSMEs), announced today it has raised a $60 million Series A. The oversubscribed round was led by Valar Ventures, marking the firm’s first investment in Indonesia, and Goodwater Capital.
The round will be used to expand in Indonesia and the Philippines, acquire more esports teams and scale Ampverse’s play-to-earn unit. . He added that expanding into Indonesia and the Philippines will “round off our SEA footprint,” which already includes Singapore, Thailand and Vietnam.
Indonesia-based startup GoTo Group announced today it has secured more than $1.3 billion transactions in 2020, with gross transaction value of over $22 billion, contributing to more than 2% of Indonesia’s GDP. Indonesia has more than $1 trillion in GDP with a population of 270 million. Goto Group claims that it generated over 1.8
ErudiFi currently works with more than 50 universities and vocational schools in Indonesia and the Philippines. ErudiFi is tackling an underserved market that is plagued with high-interest rates by traditional financial institutions and limited reach from peer-to-peer lending companies.”
Peeba says the lack of B2B-focused online wholesale solutions and tech infrastructure hampered Asia’s antiquated B2B retail, wholesale market in business growth and new market entries during the pandemic. The platform brings both emerging and traditional brands to the world of local retail in Asia.
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