Indonesia

Indonesia-based farming-as-a-service (FaaS) company Beleaf Farms (Beleaf) has on Tuesday announced their $6.85 million Series A investment led by Alpha JWC Ventures. Additional investors participating in this round include Openspace and several strategic angels.

GENEXYZ, an Indonesian firm that brings virtual influencer and human IPs, has on Wednesday announced the close of its seed funding of $1 million, led by East Ventures. This round of funding is also participated by other investors such as Emtek, MDI, Trinity Optima, and Massive Music.

Gojek has on Monday announced that its on-demand food delivery feature, GoFood, is now available on the MoMo platform, in a partnership that continues to leverage the extensive and comprehensive synergies between Gojek and MoMo.

Indonesian e-commerce company Bukalapak is more confident in delivering its long-term mission of turning profitable by the fourth quarter of 2023 after having posted six sequential quarters of adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) improvement.

Hong Kong and Malaysia also signed 11 MoUs, including the one involving MTR Corporation.

Cainiao Group, the logistics arm of Chinese conglomerate Alibaba Group Holding Limited, has on Thursday announced the launch of its first warehouse, Cainiao Cikarang Logistics Park, in Jakarta, Indonesia as part of its regional cHub expansion plan. In addition to the Indonesia cHub, Cainiao said that its smart infrastructure business is currently expanding…

GoTo Financial, GoTo's financial technology business unit, has officially launched the GoPay app in Indonesia, as part of its commitment to provide financial services for more people across the country, including those who are not Gojek and Tokopedia users.

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…

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.

“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.