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 capital will strengthen Traveloka’s balance sheet and boost efforts to deepen Traveloka’s offerings in select priority areas, including building a more robust and integrated travel & lifestyle portfolio in key markets.
The partnership is expected to enable both parties to identify potential investment, assist startup expansion with each other’s strong network, and encourage technology transfer.
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.
The three companies aim to provide rural residents in Indonesia with access to healthcare information especially related to the COVID-19 pandemic, for free to patients visiting doctorSHARE's Nusa Waluya II Floating Hospital.
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.
The fund aims to raise a total of $88 million to help Southeast Asian digital companies emerging in the post-lockdown aftermath of the COVID-19 pandemic.
