Indonesia

AC Ventures has closed its Fund III with over $205 million in committed capital, bringing the firm’s total asset under management to over $380 million across its funds. The fund was oversubscribed and participated by renowned global and regional institutional investors, including the World Bank’s International Finance Corporation (IFC) and Disrupt AD, Abu…

Desty, an Indonesia-based E-Commerce solution platform startup, announced Friday that it has secured $5 million of extended pre-series A round led by East Ventures (growth fund) with participation from Jungle Ventures and returning investors Fosun RZ and January Capital.

J&T's main backers Boyu Capital, Hillhouse Capital Group and Sequoia Capital China, and Chinese internet giant Tencent Holdings were among investors in the latest fundraising.

The funding round will enable SUN Energy to cement its leading market position in Indonesia and bolster growth in the region alongside blue-chip strategic partners that share a similar vision on energy transition.

StraitsX has launched the StraitsX Indonesian Rupiah (XIDR), its second stablecoin in Southeast Asia (SEA). Each XIDR token is fully-backed by one Indonesian Rupiah and will be supported by partners in the StraitsX ecosystem.

State-owned companies will be directed to help with this new funding.

Gojek and PT TBS Energi Utama Tbk (TBS) has announced the formation of a joint venture to accelerate the adoption of electric vehicles (EVs) in Indonesia. The joint venture, known as Electrum, will act as a platform through which both companies will develop infrastructure for two-wheel EVs throughout the country, both parties said in a statement.

The firm is keen to pursue acquisitions in categories that augment its loyalty point ecosystem, as well as e-Commerce and online travel.

Orbit Malaysia will actively invest in Series A, industry-leading companies operating in the FinTech, AgriTech, eCommerce, EdTech and HealthTech sectors, and will invest not only in Malaysian startups, but also significantly in other high-growth Southeast Asian startups.

Ula has secured an additional $23.1 million funding from Tiger Global. With a total Series B funding of $110 Million, Ula will continue to invest in geographic, product, and team expansion, with a special focus on supporting underserved retailer communities through technology in Tier 2 to 4 cities.