Indonesia
Indonesia’s Legit Group secures $13.7M fresh Series-A funding for expansion plans
Legit Group, a multi-brand cloud kitchen conceptor andoperator based in Indonesia, has officially announced that it has raised a total of $13.7 million. This Series-A round is led by MDI Ventures, the venture capital company from PT Telkom Indonesia Tbk, and followed by other investors such as Sinar Mas Digital Ventures (SMDV), East Ventures, and Winter…
Indonesian insurtech firm PasarPolis sees significant growth potential in Indonesia
With less than two percent insurance penetration, Indonesia presents a market with significant headroom for growth, Indonesia-based insurtech firm Pasar Polis said Monday.
Indonesia’s Travelio raises an undisclosed Series C funding led by a large Korean financial group
Indonesia-based home rental startup Travelio has raised an undisclosed Series C funding round led by a large Korean financial group.
Telkom to integrate broadband arm IndiHome into Telkomsel
Telkomsel major shareholders Singapore Telecommunications (Singtel) and Indonesian telecommunications firm Telkom have signed an agreement to spin off and integrate Telkom's fixed broadband business IndiHome into Telkomsel.
Indonesia cuts VAT on electric vehicles drastically to 1% – report
The incentive came into effect this month and will remain in place until the end of the year, the Coordinating Ministry of Maritime and Investment Affairs said in a statement.
Indonesia’s Fresh Factory raises $4.15M in pre-Series A funding led by SBI Ven Capital
Fresh Factory, an Indonesia-based integrated cold chain fulfilment and enabler startup, has on Monday announced it has raised $4.15 million in pre-Series A funding. The round was led by SBI Ven Capital through its joint fund with Kyobo Securities and NTUitive.
Indonesia’s Social Bread officially launched after raising $400,000 seed funding led by East Ventures
Social Bread, an Indonesia-based digital marketing marketplace to support business owners, predominantly small and medium enterprises (SMEs), has been officially launched.
Indonesia’s Etana secures financing from DEG, East Ventures and others
PT Etana Biotechnologies Indonesia (Etana), an Indonesian biopharmaceutical company, has secured a new round of investment led by DEG followed by Yunfeng Capital, HighLight Capital and East Ventures.
Antler commits to investing into 30+ Indonesian startups in 2023
Antler, a global early-stage venture capital firm with strong presence in Indonesia, said Wednesday it will continue its commitment to support aspiring founders and early-stage teams by providing backing from day zero along with a goal to invest in over 30 Indonesian startups in 2023.
Indonesia’s Hijra Bank optimistic on this year performance, aiming 1M users in 2024
Indonesian Islamic digital bank Hijra Bank is optimistic that its performance this year will increase, because it is supported by the number of users that have experienced significant growth, in line with the high public needs in sharia financial services.
