The company also claimed that its revenue from its livestreaming arm has doubled since the start of 2020 and continues to peak every month despite the COVID-19 pandemic.
PasarPolis will use the fund to advance its AI technology and expand deeper penetration in its three operating markets-Indonesia, Thailand, and VIietnam.
The fresh fund, combined with its undisclosed amount of seed funding led by East Ventures in April, is said to have brought its total funding to eight figures.
Led by B Capital and Insignia Ventures Partners, the new fund will support Payfazz in strengthening its network in Indonesia’s rural economy and exploring opportunities in expanding across Southeast Asia.
Securing a large amount of funding amid the pandemic shows investors’ trust in Social Bella in becoming a prominent player in Indonesia’s $8.5 billion beauty and personal care market.
Bringing Fabelio's total funding to $20 million, this round aims to accelerate the development of Fabelio's supply chain network of logistics hubs and experience centers.
By using technology, Ula provides small retailers with better sourcing and access to working capital, which can leverage their position in grabbing market opportunity.
As a response to COVID-19 pandemic, Bonza uses a math algorithm to project COVID-19 Effective Reproduction Numbers (Rt), which measures the virus’ rate of spread in each Indonesia province to support government policies.
