Indonesia
VinFast powers Indonesia’s EV future with expansion plan
The Indonesian government's push for an electric vehicle ecosystem creates an ideal opportunity for VinFast, Vietnam's premier EV manufacturer, to contribute to Indonesia's goal of reaching sustainable transportation.
Warren Buffet-backed China’s EV giant BYD debuts in Indonesia – report
BYD is also accelerating its overseas footprint by setting up production facilities in Brazil and Thailand (with an annual production capacity of 150,000 units each) and expanding its sales network in Europe, according to DBS Group Research.
Singapore-based agritech firm DayaTani secures $2.3M seed round financing
In a significant move towards transforming agriculturaltechnology in Indonesia, DayaTani, a farming focused agritech startup based in Singapore, has announced its successful acquisition of $2.3 million in seed round financing. The round sees participation by prominent venture capitalists namely KBI Investment and MDI Ventures backed Ascent Venture Group who…
Thailand-based insurtech Roojai acquires Indonesian online insurance aggregator Lifepal
Thailand-based insurtech Roojai Group announced last Friday that it has acquired Lifepal, an online insurance broker in Indonesia with over 2 million unique visitors per month.
SIRCLO partners with Shopify to enhance E-Commerce capabilities
SIRCLO, a an omnichannel commerce enabler in Indonesia has announce its partnership with Shopify, the global e-commerce powerhouse, to enhance its e-commerce capabilities. This alliance is set to transform the online retail experience, combining the strengths of both companies to offer superior e-commerce platforms in Indonesia.
Funding into Indonesian FinTech startups falls 51 percent to $765 million in 2023
Total funding into Indonesian FinTech startups fell 51 percent to $765 million in 2023, from $1.6 billion in 2022, Tracxn Technologies Ltd. said Tuesday. The Indonesian startup ecosystem is the second highest-funded startup ecosystem in the Southeast Asian (SEA) region in terms of overall funding and also the second largest economy in the SEA region.
Indonesia’s KOMUNAL raises $5.5M in Series A+ funding round led by Sumitomo Corporation Equity Asia
KOMUNAL, an Indonesian fintech firm focused on driving financial inclusion through the digitalization of rural banks (BPR), has closed the year 2023 by raising $5.5 million in a Series A+ funding round led by Sumitomo Corporation Equity Asia.The funding round also saw participation from notableventure capital firms including Jafco Asia, Skystar Capital,…
Indonesian AgriTech Semaai raises $4.7M in Pre-Series A funding led by CyberAgent Capital
Semaai, an Indonesian agritech startup, has raised $4.7 million in a mix of equity and debt financing. CyberAgent Capital led this investment round with participation from new investors, namely Sumitomo Corporation Equity Asia, Ruvento, MyAsiaVC and Heracles Ventures.
US DFC approves loan to Indonesian clean energy firm Medco Cahaya Geothermal
The U.S. International Development Finance Corporation (DFC) has approved 17 new transactions in the first quarter of FY2024 at the board and sub-board levels, totaling more than $3.3 billion. This includes a $126 million loan to PT Medco Cahaya Geothermal to finance the development of 31.4MW of geothermal power generation capacity in East Java, Indonesia,…
[Year in review] Southeast Asia’s Top 10 tech news in 2023
As we usher into 2024, with the hope for a better year, here are some of the top tech news in 2023.
