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.
The funding serves as a strategic partnership between Delman and the three investors, and will enable Delman’s expansion in developing a big data management ecosystem
Focusing on culinary business support, five startups chosen to participate in the venture building program all have purposes that could leverage culinary business. Four of them are Indonesia-based.
An extension to its pre-series A round was led by Accion Venture Lab, and will be used to expand its technology and platform to to help underserved students and schools impacted by COVID-19 pandemic
GFC continues to back Klikdaily following its pre-series A funding round in mid-2019. The startup has seen significant growth due to growing demand amid pandemic.
Indonesia's low insurance penetration rate, added with rapid growth of mobile users and middle-income class provide a promising opportunity for insurtech in Indonesia.
The fund will be used to help enhance financial inclusion in Southeast Asia, and to create positive impact toward Indonesian economy by reaching more SMEs.
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