Indonesia

Mandiri Capital Indonesia (MCI), a corporate venture capital (CVC) firm backed by Indonesia’s largest financial corporate, Bank Mandiri, have unveiled its first overseas Xponent program in Bangkok, Thailand.

PathGen Diagnostik Teknologi (PathGen), an Indonesia-based healthcare biotechnology startup, announced Friday that it has raised funding from venture capital firms East Ventures and Royal Group Indonesia.

Jago, an Indonesia-based mobile café company, has on Wednesday announced the completion of a $6 million Series A round of financing.The funding is led by Intudo Ventures and BEENEXT Accelerate, with participation from ORZON Ventures and D Global Ventures.

American technology firm Apple announced Tuesday it will open Indonesia’s fourth Apple Developer Academy in Bali, expanding on its investment to increase opportunities for developers, students, and entrepreneurs looking to embark on careers in the region’s growing iOS app economy.

Nvidia and Indonesia's telco PT Indosat Ooredoo Hutchison plan to build an AI center in Central Java in 2024, worth $200 million.

Singapore-based insurtech firm Igloo has on Wednesday announced its partnership with one of Indonesia’s unicorns and leading e-commerce companies, Tokopedia, to make purchase protection products more accessible and convenient for consumers.

WasteX, a Singapore-based climate tech company operating in Indonesia and the Philippines, has secured $450,000 in funds from P4G Partnerships, an initiative that helps businesses working on climate mitigation and adaptation solutions in food, water, and energy.

Indonesian fisheries startup FishLog announced Tuesday that it has successfully closed its Pre-Series A extension round funding. The round saw participation from Mandiri Capital Indonesia, BNI ventures, Accel Partners, Insignia Ventures Partners, and Saison Capital. With investments from Mandiri Capital and BNI Ventures.

Vietnamese automaker VinFast has officially opened its first dealer store in Indonesia. In addition to partnering with PT Gallerie Setia Utama, VinFast plans to significantly expand its EV distribution network across major cities in Indonesia throughout 2024.

PasarPolis, a Insurtech company based in Indonesia, has reported a 2 times revenue growth since its last funding round until 2023. It has maintained a positive gross margin since its first year of operation, demonstrating its financial strength and stability.