Indonesia
Hong Kong online wholesale marketplace Peeba officially launches in Southeast Asia
Hong Kong online wholesale marketplace Peeba is marking the first step in its Southeast Asia expansion by announcing that it is setting up an office in Indonesia. By empowering small retailers, both online (including TikTok and Instagram shops) and offline, to compete on the same footing as larger retailers, Peeba is set to disrupt the traditional retail…
MDEC expects high-tech Malaysian companies to generate $55M in digital export
Malaysia Digital Economy Corporation (MDEC) has projected a total of 42 high-tech Malaysian companies participated in its recent programs in Indonesia, to generate MYR 250 million ($54.65 million) in digital export.
Grab could achieve adjusted EBITDA breakeven in 3Q following layoff exercise, say CGS-CIMB analysts
“Layoff exercise in June leads us to believe Grab can achieve adjusted EBITDA breakeven in 3Q23F (forecast), one quarter ahead of guidance,” CGS-CIMB analysts Ong Khang Chuen and Kenneth Tan wrote in a research note on Thursday.
Indonesia‘s MAKA Motors raises $37.6M in seed funding round co-led by AC Ventures, SV Investment, East Ventures
Indonesia-based electric vehicle (EV) startup MAKA Motors announced Thursday the successful completion of its seed funding round, raising $37.6 million. The funding round was co-led by AC Ventures, South Korean investor SV Investment, and East Ventures.
INA and BII announce partnership to foster green investments in Indonesia
Indonesia Investment Authority (INA), the sovereign wealth fund of Indonesia, and British International Investment (BII), the United Kingdom’s development finance institution (DFI) and impact investor, have on Tuesday announced a strategic partnership aimed at fostering sustainable economic development and cooperation, especially in green sectors.
AC Ventures, BCG see potential value of up to $400B for green growth economy in Indonesia
The value of Indonesia’s green growth opportunity is at $400 billion, combining industry revenue and carbon offset potential, said AC Ventures (ACV) and Boston Consulting Group (BCG) on Thursday. The green growth in Indonesia involves three key focus areas – strategy and professional services (a $46 billion potential market by 2030), solutions that optimize…
Singapore’s Antler partners Khazanah to launch and invest in Malaysia
Singapore-based venture capital firm Antler is extending its international footprint into Malaysia through a partnership with the sovereign wealth fund of Malaysia Khazanah. Khazanah said in a statement on Thursday that Antler is aiming to invest in over 30 startups across Malaysia over the next three years.
Malaysia’s Teleport unveils first A321 freighter
Teleport, the logistics venture seeded by Malaysia-listed firm Capital A Berhad, has officially inducted its first Airbus A321 Freighter (A321F) aircraft into its air logistics fleet, which is set to strengthen its position as the market leader in terms of most air cargo volume by tonnage across Southeast Asia, as certified by the World ACD.
Indonesia’s Orderfaz completes pre-seed funding led by 1982 Ventures
Orderfaz, an Indonesian fintech startup for social commerce sellers, has on Thursday announced the completion of a pre-seed round of financing led by 1982 Ventures. With this round of financing, the firm plans to bring on new hires across all functions to drive platform development and market expansion.
Former Allianz Indonesia CEO joins PasarPolis as President
Indonesia-based insurtech startup PasarPolis has appointed industry veteran Peter Van Zyl as its President. Former Director and Chief Executive Officer of Allianz Indonesia, Van Zyl will bring his deep expertise and leadership to bear on the firm's ongoing mission to democratize insurance.
