Indonesia

Ayoconnect, an Indonesia-based open finance API platform, has on Tuesday announced a strategic partnership with Mastercard to modernize bank account-based payments and co-create open finance solutions in Indonesia.

MUFG Innovation Partners Co., Ltd. (MUIP) and MUFG Bank, subsidiaries of Mitsubishi UFJ Financial Group, Inc. (MUFG), have on Tuesday announced that they have established a $100 million fund called the MUFG Innovation Partners Garuda No. 1 Limited Investment Partnership with PT Bank Danamon Indonesia, Tbk (Danamon), a leading commercial bank in Indonesia.

EdenFarm, a food service-focused startup based in Indonesia, has secured $13.5 million in its latest Pre-Series B bridge round led by Telkomsel venture arm Telkomsel Mitra Inovasi (TMI), AppWorks, and AC Ventures. The round was also supported by Decart Ventures, Fubon Capital, Trihill Capital, OCBC NISP Ventura, Nakhla and Capria Ventures.

JD.com is China’s largest online retailer and its biggest overall retailer, as well as the country’s biggest Internet company by revenue.

Imajin, a manufacturing startup based in Tangerang, Indonesia, announced Wednesday that it has secured seed funding led by East Ventures, along with the participation of 500 SEA, Init 6, as well as other investors and angel investors.

iSeller, Indonesia’s omnichannel-based Point of Sale (POS) platform for online and offline merchants, has on Thursday announced the completion of a $12 million Series B round of financing led by Intudo Ventures. The round also saw participation from KVision (Kasikornbank), as well as existing investors Mandiri Capital Indonesia and Openspace Ventures.

Indonesia has the world’s largest nickel reserve which is essential for the battery industry.

Komunal, an Indonesia-based fintech company, has on Tuesday announced that it has successfully secured $8.5 million of funding led by East Ventures (Growth fund). This funding round is also participated by AlphaTrio Sustainable Technology Fund, Skystar Capital, Sovereign’s Capital, Ozora, and Gobi Partners.

Mindtera, an Employee Assistance Program (EAP) platform in Indonesia, has announced the close of its combined seed and seed extension round at $850,000 funding led by East Ventures. The round also saw commitments from Seedstars International Ventures among other prominent angel investors.

Malaysia-based integrated car e-commerce platform Carsome is bolstering its Indonesian operations via partnership with Indonesian electric vehicle (EV) firm Electrum and has committed to investing in expanding its business in the nation’s planned Nusantara capital.