Artificial Intelligence in Indonesia: The current state and its opportunities
Most of the breakthroughs in artificial intelligence (AI) development are happening elsewhere, but Indonesia is not lagging behind. With a young, tech-savvy population and favorable macroeconomic trends, Indonesian companies are beginning to adopt and advance on AI's vast opportunities. Local and international investors are also eyeing AI's potential for Southeast Asia's largest economy.
SoLeLands, an immersive game-based learning platform, raised funding led by East Ventures
SoLeLands, an immersive game-based learning platform to support kids’ self-discovery, today announced that the company had raised funding led by East Ventures, with the participation of SMDV. The funding will be allocated for capacity building and product development in preparation for the soft launching in the Q4 of 2023.
EDB appoints East Ventures and other six fund management companies as Global Investor Programme
The Economic Development Board (EDB) of Singapore has appointed seven fund management companies as Global Investor Programme (GIP)-select funds. The seven fund managers offering GIP-select funds were appointed following a Call for Proposal (CFP) exercise conducted from 2-31 March this year.
Ringkas, digital mortgage platform, raises US$3.5 million in Seed round to roll out its platform across Indonesia
Ringkas, a digital mortgage platform with the vision to democratize home ownership, announced it has secured a US$3.5 million in Seed Round co-led by East Ventures and Crestone Venture Capital. Other investors that participated include 500 Global, Teja Ventures, Orvel Ventures, Hustle Fund, and others. With the capital from this round, the company will focus on advancing and scaling its platform across multiple cities in Indonesia and the secondary market.
DTC bespoke jeweler, MADLY raises new funding from East Ventures
MADLY, Singapore’s foremost bespoke jewelry design house, today announced an investment received from East Ventures, a pioneering sector-agnostic venture capital firm that has supported over 300 tech companies across Southeast Asia. This funding serves as a vote of confidence from East Ventures to MADLY.
East Ventures announces its first and final close of US$250 million Growth Plus fund
East Ventures, a pioneering and leading Indonesia-focused venture capital firm, today announced the first and final close of its Growth Plus fund, securing a total of US$250 million. The fund will specifically target growth portfolio companies within East Ventures’ ecosystem that demonstrate strong potential.
UENA raised new funding co-led by East Ventures and Trihill Capital, aiming to expand the hyperlocal F&B for daily food
UENA, a hyperlocal online F&B startup based in Indonesia, has raised an undisclosed amount of new funding co-led by the existing investor, East Ventures, and the new investor from Trihill Capital. This new round, that was closed in Q1 2023, strengthens UENA’s balance sheet following the seed funding raised in September 2022. The fund will be used to continue expanding the locations and services to reach more users and customers.
Indonesia-based Praktis raises US$20 million of series A funding led by East Ventures
Praktis, an end-to-end supply chain enabler has raised US$20 million of series A round led by East Ventures (Growth fund) with participation from Triputra Group and SMDV. The investment will be allocated to accelerate technology enhancements for the brands sides, at the same time to help the suppliers to have an easier business process, better team building, and enhancement of the end-to-end supply chain ecosystem.