Indonesia

With this fresh funding, ESB will further expand its proposition including tech-enabled upselling features, enhanced business intelligence (BI) platform, delivery solutions, payment solutions, financing, and human resources information system (HRIS) to become the dominant end to end F&B business operating platform.

Shoplinks will use the funds to strengthen its foothold in Indonesia before expanding into other Southeast Asian markets. Additionally, the funds will be used to grow its team and invest more in product development.

TransTRACK.ID will use the funds to scale product development and expand its network of partners across Indonesia to dominate the market.

While we are still in the midst of a long-drawn pandemic, I believe startups are still presented with advantages in this season as COVID has kicked off the acceleration of the digital economy, mostly arising from the shift in consumer habits from offline to online.

The Jakarta-based startup has reached a valuation of $1 billion after raising $153 million in a financing round led by DST Global.

Grab has increased its holding in Ovo's parent company PT Bumi Cakrawala Perkasa from about 39 percent.

The partnership further enhances the shopping and payment experience of shoppers and supports Muslim retailers and businesses with increased sales amid the pandemic.

The funding round was co-led by Prosus Ventures, Tencent and B Capital Group. Amazon founder Jeff Bezos's Bezos Expeditions also joined the round.

Startup Studio Indonesia has a preference for the following six sectors: education, health, maritime, agriculture, travel, and logistics but put more emphasis towards selection criteria: product-market fit traction, founder’s profile, local defensible-factor, and market size.

Forge Ventures said it will build a concentrated portfolio of just 15 companies over the next three years with a focus on Singapore and Indonesia.