Indonesia

Thailand-based insurtech Roojai Group announced last Friday that it has acquired Lifepal, an online insurance broker in Indonesia with over 2 million unique visitors per month.

SIRCLO, a an omnichannel commerce enabler in Indonesia has announce its partnership with Shopify, the global e-commerce powerhouse, to enhance its e-commerce capabilities. This alliance is set to transform the online retail experience, combining the strengths of both companies to offer superior e-commerce platforms in Indonesia.

Total funding into Indonesian FinTech startups fell 51 percent to $765 million in 2023, from $1.6 billion in 2022, Tracxn Technologies Ltd. said Tuesday. The Indonesian startup ecosystem is the second highest-funded startup ecosystem in the Southeast Asian (SEA) region in terms of overall funding and also the second largest economy in the SEA region.

KOMUNAL, an Indonesian fintech firm focused on driving financial inclusion through the digitalization of rural banks (BPR), has closed the year 2023 by raising $5.5 million in a Series A+ funding round led by Sumitomo Corporation Equity Asia.The funding round also saw participation from notableventure capital firms including Jafco Asia, Skystar Capital,…

Semaai, an Indonesian agritech startup, has raised $4.7 million in a mix of equity and debt financing. CyberAgent Capital led this investment round with participation from new investors, namely Sumitomo Corporation Equity Asia, Ruvento, MyAsiaVC and Heracles Ventures.

The U.S. International Development Finance Corporation (DFC) has approved 17 new transactions in the first quarter of FY2024 at the board and sub-board levels, totaling more than $3.3 billion. This includes a $126 million loan to PT Medco Cahaya Geothermal to finance the development of 31.4MW of geothermal power generation capacity in East Java, Indonesia,…

As we usher into 2024, with the hope for a better year, here are some of the top tech news in 2023.

Indonesian quick commerce startup Dropezy has expanded into the poultry downstream industry and rebranded to Sekilo. The firm said that motivated by a commitment to address evolving market demands and capitalize on emerging opportunities, Sekilo stands poised to revolutionize the meat processing and distribution space through innovative solutions.

The four EV producers have also expressed their readiness to follow the regulations in Indonesia, including complying with the 40 percent domestic component level rule.

The global wave of layoffs hitting US tech companies like Meta, Amazon, and Twitter has also come to Southeast Asia amid a slowdown in fundraising activities for tech startups. Tech companies including venture capital-backed startups in Southeast Asia have also announced layoffs and austerity measures to cope with the uncertain macroeconomic situation.