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One example is Fairbanc , which is based in Singapore but focused on Indonesia. Fairbanc announced today it has raised $4.8 Fairbanc will use its new funding on expanding in Indonesia, and exploring new markets like Vietnam and the Philippines in partnership with Unilever.
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. Resurgent HappyFresh raises $20M for its online grocery service in Southeast Asia.
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. Called Intudo Ventures Fund III, it was raised in less than three months and oversubscribed. It shows that for the right markets, hyperlocal is the way to go.”.
RaRa Delivery ’s ambitious goal is to offer same-day deliveries in Indonesia without burning cash like many on-demand logistics providers. The company announced today it has raised $3.25 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 startup is launching out of stealth today, having already raised $1 million in pre-seed funding from the Trans-Pacific Technology Fund (TPTF). . They created Rey to address the low penetration of life and health insurance in Indonesia. We believe that we cannot just go into the market and digitize part of the value chain.”.
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. Indonesian supply chain startup Advotics raises $2.75M led by East Ventures. million round.
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%
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.
Atma , an Indonesian startup that wants to make job hunting less painful, announced today it has raised $5 million in pre-seed funding led by AC Ventures, with participation from Global Founders Capital. Atma says up to over 100 million people in Indonesia fit into this category.
Wagely , an earned wage access (EWA) platform based in Jakarta and Dhaka, has raised $8.3 Wagely, an Indonesian earned wage access and financial services platform, raises $5.6M. 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.
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. The startup has closed three funding rounds of Series B within the past six months, bringing the company’s total raised to over $70 million.
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 startup announced today it has raised a $5 million Series A, co-led by Monk’s Hill Ventures and Qualgro. ErudiFi currently works with more than 50 universities and vocational schools in Indonesia and the Philippines. GajiGesa, a fintech startup serving underbanked Indonesian workers, raises $2.5 million seed round.
The startup announced today it has raised a $5 million Series A led by Monk’s Hill Venture. 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.
Indonesian robo-advisor app Bibit raises $30 million led by Sequoia Capital India. million, based on data from the Indonesia Stock Exchange and Central Securities Custodian. Ajaib raises $65M Series A extension led by Ribbit Capital, increasing the round’s total to $90M.
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 new round of funding brings its total raised to $5.8 Wholesale marketplace Abound raises $22.9M.
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.
If you follow startup news from Indonesia, you know that the country’s estimated 60 million small businesses are a hot target for tech companies. BukuKas and BukuWarung , for example, both recently raised large rounds to fuel their race to digitize SMEs’ operations. The company announced today it has raised $4.8
Railsbank , the London-headquartered Banking-as-a-Service platform, has raised $37 million in new growth funding. and expand its product in APAC, including the Philippines, Indonesia, Malaysia, Australia and Japan. It will also double down on existing markets such as the U.K./Europe.
The startup, which says it is the country’s largest direct-to-consumer insurance marketplace, announced today it has raised a $9 million Series A. The new funding brings its total raised to $12 million. We are really at a tipping point for GDP per capita and a lot of insurance carriers are focusing more on Indonesia,” said Ficari.
Just half a year after leading SODA’s Series B , SoftBank Ventures Asia is raising its bet on the Tokyo-based sneaker resell platform. SODA said that the deal means its share of Japan’s sneaker resale industry is now 80%, making it the market leader by far. Along with its new funding, SODA announced it has acquired rival Monokabu.
Today, Indonesian EWA startup wagely announced it has raised $5.6 In Indonesia, wagely’s competitors include GajiGesa and Gajiku. Fischer said wagely “created the earned wage access category in Indonesia,” and is the market leader with more than 50 large companies, including state-owned enterprises and multi-national conglomerates.
Indonesia’s sprawling archipelago has long been a headache for logistics companies, but there’s no lack of brave challengers. As in many countries around the world, on-demand delivery got a boost during the COVID-19 pandemic in Indonesia. The e-grocery delivery market in Indonesia is projected to reach $6 billion by 2025.
The company’s Series B, which brings its total raised since 2017 to $41 million AUD, will be used to expand in Southeast Asia and double its total team by hiring 100 new people, including 50 software developers. ” co-founder and co-chief executive officer William On told TechCrunch.
The company is one of the largest VC–backed startups in Southeast Asia, having raised over $60M in funding. The final piece of my four-part guide to expanding a business into Asia is tailored more towards local startups and a big issue that affects many of them: raising funding from investors. Where are all of the VCs in Asia?
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.
Komunal is reaching out to Indonesia’s rural customers by going where they are. Founded in 2019, the startup announced today it has raised $8.5 Combined they only made up about 2% of the Indonesian banking market although they have much bigger potential.”. Komunal raises $8.5M
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
Indonesia’s Xendit , a startup focused on building digital payments infrastructure for the region, has just raised $64.6 The funding brings the total amount raised by the Jakarta-based company to $88 million since its 2015. The market opportunity is there. ” It is also eyeing other markets.
The startup announced today it has raised a seed extension of $1.5 The funding brings Jeff’s total raised to about $2.5 Jeff raises $1M to build alternative credit scoring and other fintech products for Southeast Asia. Jeff raises $1M to build alternative credit scoring and other fintech products for Southeast Asia.
BukuKas , one of several startups helping SMEs go online, announced today it has raised a $10 million Series A led by Sequoia Capital India. BukuKas was founded by chief executive officer Krishnan Menon and chief operating officer Lorenzo Peracchione, who met eight years ago while working at Lazada Indonesia.
Sunday , an insurtech startup based in Bangkok, announced it has raised a $45 million Series B. The new funding will be used to expand in Indonesia and develop new distribution channels, including insurance agents and SMEs. Indonesian D2C insurance marketplace Lifepal raises $9M Series A.
Xendit , a payments infrastructure platform for Southeast Asia, has raised $300 million in fresh funding. The new round brings its total raised to $538 million and was led by Coatue and Insight Partners, with participation from Accel, Tiger Global, Kleiner Perkins, EV Growth, Amasia, Intudo and Goat Capital. billion to $15 billion.
The Singapore-based startup announced today it has raised $6.6 The new funding will be used to grow its customer base in Singapore, Vietnam and Indonesia, and expand into new markets in Southeast Asia, like Malaysia, the Philippines and Thailand. million in pre-Series B funding, led by Headline Asia.
At the same time, it has raised $35 million in a Series C funding round led by UAE-based investor Mubadala. Dostavista, the ‘crowdsourced’ same-day delivery service, raises $15M Series B. They have succeeded in going global; becoming competitive in 10 new international markets.”.
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.
This brings GudangAda’s total raised so far to about $135 million. Founded in January 2019, GudangAda is now used by half a million SMEs and covers 500 cities in Indonesia. Before raising its Series B, it had already grown to $6 billion in net merchandise value on $35 million of funding. Its last funding was a $25.4
The company announced today it has raised a $4.29 million seed round led by Wavemaker Partners, which it says is the largest seed round ever raised in Malaysia, based on data from Crunchbase. million hectares around the world, and Poladrone sees a serviceable addressable market of 4.2 He added that oil palm farms cover 18.7
The Singapore-based startup announced today it has raised a $12 million Series A to build out its B2B transactions platform. All of Tinvio’s existing investors—Sequoia Capital India’s Surge, Global Founders Capital and Partech Ventures—also returned for its Series A, which brings Tinvio’s total raised to $18.5 million seed round.
The startup announced today it has raised a $2 million seed round, co-led by SOSV and Vectr Ventures. Hong Kong-based viAct helps construction sites perform around-the-clock monitoring with an AI-based cloud platform that combines computer vision, edge devices and a mobile app.
A Manila-headquartered startup called CloudEats , which operates cloud kitchens across the Philippines and Vietnam, just raised a $7 million Series A extension led by Nordstar to accelerate the digitization of food service in Southeast Asia. . We are taking the best practices along with key learnings to our next market launch.” .
The startup announced today it has raised a $14 million Series A led by Jungle Ventures with participation from eWTP Capital (a venture fund under Alibaba and Ant Financial) and ThinkZone Ventures. Edupia raises Series A to close the education gap in Vietnam by Catherine Shu originally published on TechCrunch.
The company, which focuses on halal products and other items for Muslim customers, announced today it has raised a $30 million Series B, led by UOB Venture Management’s Asia Impact Investment Fund II. Its goal is to reach more than one million resellers throughout Indonesia over the next five years.
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