Indonesia
Indonesia’s GoTo reports significant drop in third quarter losses
PT GoTo Gojek Tokopedia Tbk (GoTo), the largest digital ecosystem in Indonesia, on Monday announced that the firm has reported significant drop in third quarter losses, driven by improved monetization and disciplined management of operating expenses. The firm reported adjusted losses before interest, taxes, depreciation and amortization 942 billion rupiah…
Bukalapak’s 3Q revenue up 29 percent on year, on track for profitability by year end
Indonesia-based technology firm Bukalapak announced Friday that its revenue grew 29 percent year-over-year to IDR 1.16 trillion ($72.79 million) in the third quarter ended September 30, 2023, underpinned by marketplace segment. The group's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) improved by 71 percent year-over-year…
Indonesia’s J&T Express makes HKEX debut, raises $450M from global offering
J&T Global Express Limited (J&T Express), a global logistics service provider, has officially listed on the Main Board of the Hong Kong Stock Exchange on Friday under the stock code “1519”. The public offer price was HK$ 12 ($1.53) per offer Share, with net proceeds from the global offering amounting to HK$ 3.53 billion ($450 million).
SoPa’s Thoughtful Media ventures into concert sponsoring in Indonesia
Thoughtful Media Group Inc (TMG), the Thailand-based social commerce-focused, premium digital advertising network of Society Pass Incorporated (SoPa), has on Tuesday announced that it will commence sponsoring local live music events in Southeast Asia (SEA), resulting in creating unique marketing opportunities for advertisers.
Qiscus secures $2M from Init6 for Southeast Asian markets expansion
Qiscus, a technology company providing an omnichannelcustomer engagement platform, has secured $2 million from Init6, an investment company founded by Achmad Zaky, who is also Co-Founder of Indonesian e-commerce giant, Bukalapak. This investment will be strategically used to strengthen Qiscus’ expansion into the Southeast Asian market in upcoming 2024.
Indonesian biotechnology startup Moosa Genetics raises new funding led by East Ventures
Moosa Genetics, an animal genomics and biotechnology startup based in Indonesia, has on Monday announced that the company raised funding led by East Ventures, a venture capital firm focusing on Southeast Asia. The funding also saw the participation from angel investors.
GoTo Financial and Bank Jago launch GoPay Tabungan by Jago, a bank account and e-money service combined
GoTo Financial, GoTo's financial technology business unit, and Bank Jago, an Indonesia-listed technology-based bank, have on Thursday launched GoPay Tabungan by Jago, a bank account for daily transactions that can be accessed directly via the GoPay and Gojek applications.
East Ventures announces first healthcare fund of $30M
East Ventures, a venture capital firm in Indonesia and Southeast Asia, has on Wednesday announced the firm’s first healthcare-focused fund with the amount of $30 million, which is dedicated to supporting innovative healthcare solutions in Indonesia.
Vietnamese EV maker VinFast to expand into Southeast Asia, raising more capital – report
Southeast Asia has a lot of potential with governments looking to boost EV adoption with aggressive targets, VinFast Chief Executive Officer Le Thi Thu Thuy said.
Indonesia’s AMODA raises seed funding co-led by East Ventures and Living Lab Ventures
AMODA, a property and construction technology startup in Indonesia, has secured seed funding co-led by East Ventures and Living Lab Ventures. This round of investment strengthens its balance sheet, following the pre-seed funding in 2022. The funding will be mainly allocated to expanding its product, technology, and operation capabilities.
