New investment fuels up ALAMI Group in pre-series B round led by East Ventures (Growth fund)
ALAMI Group, a leading Indonesian Shariah-compliant SME lending platform announced that it has successfully closed pre-series B round led by East Ventures (Growth fund) alongside returning investors namely AC Ventures, Quona Capital and FEBE Ventures. US-based venture capital firm Capria Ventures also joined the round, marking its first direct investment in Asia Pacific. The amount of the funding was not disclosed.
Cold chain may be the next opportunity for Indonesia’s logistics startups
Indonesian last-mile logistics startup Paxel found that almost half of its shipments are of frozen food – primarily from MSMEs sending their products to customers. This is despite the company’s fleet mainly made up of motorcycles that are not equipped with any kind of refrigeration.
Bioma, a Product-as-a-Service startup, raised pre-seed funding co-led by East Ventures and Init-6
Bioma, a Product-as-a-Service startup that enables consumers to rent various types of physical assets, announced the completion of an undisclosed amount of pre-seed funding round co-led by East Ventures and Init-6. Bioma will allocate the fund to further expand its services, especially in catering to different use cases of the customers. Bioma will also utilize the fund to invest in more resources, mainly to add operations, products, and tech talents, ensuring a seamless user experience.
East Ventures: Uplifting Indonesian Society Through The Digital Economy, a case study by the CIIP
As the largest venture capital (VC) fund in Indonesia, investing in early-to-growth stage digital solutions across Southeast Asia and Japan, East Ventures has invested in digital solutions that solve the pain points of local communities, including by increasing access to education and optimizing end-to-end logistics, creating seamless and safe payment processes, and democratizing access to commerce.
Fundraising tips for startup founders
Unlike conventional companies, the startup business model relies heavily on external capital support. Then, how can startup founders find investors so quickly?
East Ventures donated 53 oxygen concentrators to BUMN Foundation for Indonesia
East Ventures, a pioneering sector-agnostic venture capital firm that has supported over 250 companies in Southeast Asia, continues its support to overcome the COVID-19 pandemic in Indonesia by donating 53 units of oxygen concentrator (OC) to the BUMN Foundation for Indonesia (BUMN Foundation).
Digitalization is a new engine to boost the economy in Bali
Famously named the "Island of Paradise," Bali has relied on tourism to back its economy for decades. The travel and tourism sector has become the source of most Balinese people's livelihood. Therefore, the pandemic has brought extreme struggles for the province with a 4.3 million total population that relied heavily on the tourism economy.
Web3 discovery platform Playground closes pre-seed round co-led by East Ventures and Mirana
Playground, a new platform dedicated to Web3 Gaming and NFT discovery, announced the completion of its oversubscribed pre-seed funding round co-led by East Ventures and Mirana Ventures.