Indonesia

Moosa Genetics, an animal genomics and biotechnology startup based in Indonesia, has on Monday announced that the company raised funding led by East Ventures, a venture capital firm focusing on Southeast Asia. The funding also saw the participation from angel investors.

GoTo Financial, GoTo's financial technology business unit, and Bank Jago, an Indonesia-listed technology-based bank, have on Thursday launched GoPay Tabungan by Jago, a bank account for daily transactions that can be accessed directly via the GoPay and Gojek applications.

East Ventures, a venture capital firm in Indonesia and Southeast Asia, has on Wednesday announced the firm’s first healthcare-focused fund with the amount of $30 million, which is dedicated to supporting innovative healthcare solutions in Indonesia.

Southeast Asia has a lot of potential with governments looking to boost EV adoption with aggressive targets, VinFast Chief Executive Officer Le Thi Thu Thuy said.

AMODA, a property and construction technology startup in Indonesia, has secured seed funding co-led by East Ventures and Living Lab Ventures. This round of investment strengthens its balance sheet, following the pre-seed funding in 2022. The funding will be mainly allocated to expanding its product, technology, and operation capabilities.

LUNA, an Indonesian embedded fintech and vertical software as a service (SaaS) platform for retailers and micro, small, and medium-sized enterprises (MSMEs), has on Thursday announced the completion of a round of financing led by TNB Aura through its TNBA Scout initiative.

Indonesian technology firm Gojek has on Tuesday announced its expansion to Binh Duong (Di An, Thuan An, Thu Dau Mot) and Dong Nai (Bien Hoa) provinces, neighboring cities of Ho Chi Minh City (HCMC).

South Korean digital bank KakaoBank and Indonesian lender Superbank have announced a strategic partnership to drive digital banking innovation in Indonesia. In this strategic partnership, KakaoBank will acquire a 10 percent stake in Superbank through the issuance of new shares.

Total funding into FinTech startups in Southeast Asia (SEA) fell 74 percent to $229 million in the third quarter of 2023 from $887 million a year ago, making it the lowest funded quarter since 2020, Tracxn said Friday. The drop in funding was largely due to the absence of late-stage rounds in the third quarter of 2023.

Indonesia-based fintech firm ALAMI Group has on Thursday announced the completion of a growth investment round led by Indonesia-only venture capital firm Intudo Ventures. The round is also participated by existing investors such as East Ventures (Growth fund), AC Ventures, Quona Capital, and Golden Gate Ventures.