Indonesia

Indonesia Fintech JULO adds insurance inclusion to financial inclusion with JULO Cares

JULO, an Indonesian peer-to-peer financial technology company, has launched JULO Cares on Friday, an insurance cover embedded within the core JULO digital credit solution. This benefit launched under the JULO Cares platform provides ongoing device protection to users when they avail of JULO’s digital credit.

SWC Global leads $5.41M series A financing in Indonesian D2C startup Rosé All Day Cosmetics

Halal-certified direct-to- consumer (D2C) Indonesian beauty brand Rosé All Day Cosmetics (RADC) announced Friday it has successfully closed a series A funding round of $5.41 million. The funding was led by SWC Global, with participation from DSG Consumer Partners (DSGCP) and the brand’s initial seed investor AC Ventures.

GoTo struck TikTok deal to stop market share slide, CEO says – report

TikTok Shop more than doubled its market share to 11 percent this year, Walujo said on a conference call with investors on Thursday. GoTo’s share of the pie shrank to 23 percent from 28 percent over that span, he was quote as saying.

Indonesia’s aquaculture company eFishery expands to India

Indonesia-based aquaculture company eFishery has announced the completion of its commercial pilot in India, marking a significant milestone in its global expansion journey. The firm has kicked off the pilot project in March of this year, has successfully acquired over 1,000 acres of ponds under contract, and has now distributed more than 3,000 metric tons…

Tracxn : Indonesia sees 54 percent decline in startup funding in 2023

Indonesia has witnessed total funding of $1.4 billion year to date, a drop of 54 percent as compared to the same period in 2022, Tracxn said Wednesday. The number of funding rounds in the country year to date also experienced a drop of 49 percent as compared to the same period in 2022.

Indonesian healthtech firm Klinik Pintar closes $5M round led by Altara Ventures

Jakarta-headquartered healthtech company Klinik Pintar has announced an oversubscribed $5 million Series A1 funding round led by Altara Ventures. The round also saw participation from leading healthcare information technology (IT) corporate, Infocom, and existing investors Golden Gate Ventures, Skystar Capital and Venturra.

China’s Tik Tok to invest $1.5B in Indonesia’s GoTo

Chinese entertainment platform Tik Tok will invest $1.5 billion in Indonesia's largest digital ecosystem PT GoTo Gojek Tokopedia Tbk (GoTo Group). As part of the agreement, Tokopedia and TikTok Shop Indonesia’s businesses will be combined under the existing PT Tokopedia entity in which TikTok will take a controlling stake.

Mandiri Capital Indonesia partners BTN to launch prop-tech focused fund through BTN Fund

Indonesian commercial bank PT Bank Tabungan Negara (Persero) Tbk (Bank BTN) and PT Mandiri Capital Indonesia (MCI), the corporate venture capital arm of Bank Mandiri, have signed a term sheet to establish the BTN Fund, targeting investments in digital technology with a focus on housing.

black and white store with assorted items

Connected commerce: Bridging the gap between online and offline retail

Considering Indonesia's geographical conditions and limited internet access, traditional offline sales channels still dominate the #retail landscape. Connected commerce offers #SMEs a new alternative to expand exposure, boost awareness, gain market access, and distribute goods. #ConnectedCommerce allows a brand to accommodate diverse consumers within…

Indonesia readies ethics guidance for AI developers – report

Indonesia has drafted ethics guidance for developers using artificial intelligence (AI) to prevent potential misuse of the new technology.