Indonesia
Indonesia’s VC deal value expected to decline 70-80% in 2023, says report
Despite a degree of cautious optimism, Indonesia's venture capital deal value is expected to decline 70 percent to 80 percent in 2023, according to a report revealed by Indonesia-based venture capital firm AC Ventures and global consultancy Bain & Company on Wednesday.
Mandiri Capital Indonesia partners Investible to launch new global climate tech fund
Indonesian financial institution Bank Mandiri corporate venture capital subsidiary Mandiri Capital Indonesia (MCI) and Sydney and Singapore-based early stage venture capital firm Investible have teamed up to launch new global climate tech fund.
South Korea’s Shinhan EZ enters Indonesian insurance market via partnership with Tap Insure
Shinhan EZ General Insurance, a subsdiairy of South Korean conglomerate Shinhan Financial Group Co. Ltd, is entering Indonesian insurance market via the partnership with Tap Insure, a strategic partner within the PasarPolis insurtech ecosystem.
Indonesian pet health and nutrition company secures new funding led by East Ventures
Compawnion, an Indonesian pet food company, has secured a new funding led by East Ventures, a sector-agnostic venture capital firm in Indonesia and Southeast Asia. The fund will be allocated to accelerate their distribution, research and development initiatives, broaden the company’s product portfolio, and effectively reach a larger demographic of pet…
Indonesian startup Mimin expands Generative AI services to Malaysia and Singapore
Mimin, the Indonesian platform enabler revolutionizing customer service through artificial intelligence (AI)-driven chat, has announced its expansion into Malaysia and Singapore.
Indonesia’s GoTo reports significant drop in third quarter losses
PT GoTo Gojek Tokopedia Tbk (GoTo), the largest digital ecosystem in Indonesia, on Monday announced that the firm has reported significant drop in third quarter losses, driven by improved monetization and disciplined management of operating expenses. The firm reported adjusted losses before interest, taxes, depreciation and amortization 942 billion rupiah…
Bukalapak’s 3Q revenue up 29 percent on year, on track for profitability by year end
Indonesia-based technology firm Bukalapak announced Friday that its revenue grew 29 percent year-over-year to IDR 1.16 trillion ($72.79 million) in the third quarter ended September 30, 2023, underpinned by marketplace segment. The group's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) improved by 71 percent year-over-year…
Indonesia’s J&T Express makes HKEX debut, raises $450M from global offering
J&T Global Express Limited (J&T Express), a global logistics service provider, has officially listed on the Main Board of the Hong Kong Stock Exchange on Friday under the stock code “1519”. The public offer price was HK$ 12 ($1.53) per offer Share, with net proceeds from the global offering amounting to HK$ 3.53 billion ($450 million).
SoPa’s Thoughtful Media ventures into concert sponsoring in Indonesia
Thoughtful Media Group Inc (TMG), the Thailand-based social commerce-focused, premium digital advertising network of Society Pass Incorporated (SoPa), has on Tuesday announced that it will commence sponsoring local live music events in Southeast Asia (SEA), resulting in creating unique marketing opportunities for advertisers.
Qiscus secures $2M from Init6 for Southeast Asian markets expansion
Qiscus, a technology company providing an omnichannelcustomer engagement platform, has secured $2 million from Init6, an investment company founded by Achmad Zaky, who is also Co-Founder of Indonesian e-commerce giant, Bukalapak. This investment will be strategically used to strengthen Qiscus’ expansion into the Southeast Asian market in upcoming 2024.
