Society’s online behavior enhances Indonesia’s digital economy investments
During Gambir Trade Talk #3: “Digital Economy Transformation: Indonesia’s Readiness”, held by the Indonesian Ministry of Trade on October 12, 2021, Willson Cuaca, Co-Founder and Managing Partner of East Ventures said that society’s change of behavior during the pandemic has accelerated digital adoption and increased the amount of digital investments in Indonesia.
East Ventures-backed companies, Nalagenetics and Ruangguru, crowned as Top Startup in the G20 Innovation League 2021
Indonesian healthtech company focusing on personalized screening and intervention Nalagenetics and the leading edtech company in Southeast Asia Ruangguru have been chosen as the Top 10 startup in the G20 Innovation League 2021, an international forum held at Sorrento, Italy, on October 9-10, 2021.
East Ventures co-leads series A funding round of US$ 15 million for Singapore-based Qapita
Singapore-based Qapita, provider of equity management SaaS solutions today announced it has raised a Series A round of US$ 15 million (approximately 213 billion rupiah). This round is co-led by Indonesia-based East Ventures (Growth Fund) and Vulcan Capital, with participation from NYCA and other existing investors including MassMutual Ventures, Endiya Partners. Several existing angel investors including Alto Partners, Partners of the Northstar Group and K3 Ventures invested in this round. This round will see Qapita expand its operations in Indonesia.
Jojonomic amplifies enterprises’ efficiency through digitizing manual processes
Indrasto Budisantoso, CEO and Co-Founder of Jojonomic, believes that an exceptional startup founder is one who recalls and transforms pain points occurring in the society into an all around platform that caters to solving matters of a specific field. Having spent a good portion of his career as a management consultant at an international firm that required him to travel extensively and often, Indrasto found himself drowning in the tedious and repetitive process of having to do reimbursements manually.
Regional logistics platform Luwjistik raises US$ 1.1 million in seed funding round led by East Ventures
Luwjistik, a Singapore-based startup specializing in e-commerce logistics integration, has secured US$ 1.1 million (approximately IDR 15 billion) in a seed round led by East Ventures, with participation from MDI-Finch’s Arise and Global Founders Capital.
Chinese language learning startup T-Lab raises US$ 1.6 million in seed funding round led by East Ventures, targeting mainly the US and SEA market
T-Lab, an edtech company providing Chinese language learning targeting mainly the United States and Southeast Asia, announced earlier today that it has secured US$ 1.6 million of seed funding. The funding round is led by East Ventures with participation from K3 Ventures, Blue Elephant Capital, and Plug & Play. The fresh capital will be used to strengthen T-Lab’s research and development (R&D) division and enhance the curriculum for providing high-quality Chinese educational resources.
Indonesia’s fintech company Komunal raises US$ 2.1 million of series A funding led by East Ventures, further promoting the country’s financial inclusion
Komunal, Indonesia’s first fintech company to offer Neo-rural bank services locally, announced earlier today that it has secured US$ 2.1 million (approximately IDR 30 billion) in the Series A funding round. The investment is led by East Ventures with participation from Skystar Capital. Both investors also backed Komunal in the seed funding round. The fresh capital will accelerate Komunal’s mission to boost financial inclusion in Indonesia by enhancing its latest product DepositoBPR.
‘A solid and integrated digital ecosystem is what jumpstarts Indonesia’s digital economy’: Willson Cuaca
Here is one riveting fact about our treasured country, Indonesia: it is the world’s largest archipelago consisting of 17,508 islands. Out of 600 million of Southeast Asia’s population, 270 million inhabit Indonesia. What is more, US$ 1.1 trillion out of US$ 2.1 trillion of Southeast Asia’s economy is located in Indonesia. That being said, Indonesia is the largest and most homogeneous market in the subregion with profuse economic potentials. The abundant islands dotting the country also signify the many inefficiencies to address and overcome. The vast market with overflowing problems that entail was the reason why East Ventures came to life. As long as problems are consistently lurking around us, it is imperative that we bring solutions and innovations to the table.