Indonesia

Startup Studio Indonesia has selected 15 early-stage startups - out of a total of 5,723 registrants - to take part in Startup Studio Indonesia's third batch of incubation training.

The additional funds will be utilized for KitaBeli’s expansion into more cities, as well as build out a wider stock-keeping unit mix.

Other investors include MDI, Pavilion Capital, AC Venture, CCV, Wavemaker, PT SAT, Saison Capital, Orion Advisors (DST Founders).

The fresh funds will be used to expand the leadership and growth teams, to enter new geographies and to deepen technology development.

Xendit will relocate its financial hub to Malaysia, following an investment from the Malaysian government’s venture capital investment fund.

The funding will be used to grow Dagangan's house brand of private-label local products, product development, talent acquisition, and grow partnerships with community leaders, key opinion leaders, local entrepreneurs, and village chiefs.

Giftee's investment into TADA Network marks its second major investment outside of Japan as part of the company's expansion in Southeast Asia.

With the latest investment, Xendit plans to continue innovating its product suite, with sights on expansion into select countries across Southeast Asia.

With the fresh capital, the company will continue to democratize access for Indonesian retail investors to grow their wealth via its digital savings and investing products.

The funding aims to further develop SIRCLO’s technological capabilities and accelerate the retail digitalization for various businesses all across Indonesia.