Digital competitiveness now more equitably spread across Indonesia
FOR all the talk of a global digital winter, Indonesia’s digital economy – on track to be worth an estimated US$360 billion by 2030 – continues to power ahead.
East Ventures launched the East Ventures – Digital Competitiveness Index 2023
East Ventures, a pioneering sector-agnostic venture capital firm that has supported over 300 tech companies across Southeast Asia, together with Katadata Insight Center and PwC Indonesia launched the East Ventures – Digital Competitiveness Index (EV-DCI) 2023, which is the 4th edition since it was first launched in 2020. The EV-DCI 2023 report presents the measurement of Indonesia’s digital competitiveness with the theme “Equitable digital nation”.
Equitable digital nation: Willson Cuaca, Co-Founder & Managing Partner at East Ventures
As an early believer in the capabilities of Indonesia's digital ecosystem since 2009, East Ventures has witnessed the evolution of digital growth in Indonesia. At that time, the internet penetration was only 30 million people. As of January 2023, internet penetration has reached 212.9 million, or 77 percent of Indonesia's total population. It is an astonishing number for the growth of Indonesia's digital economy.
“We never intentionally look for unicorns”: Willson Cuaca
Since East Ventures was established in 2009, we never intentionally look for unicorns. The statement came from East Ventures’ Co-Founder and Managing Partner, Willson Cuaca during the panel discussion titled ‘Finding the Next Unicorn’ in OCBC NISP Business Forum 2023.
‘The impact of SVB does not directly affect our ecosystem’: Willson Cuaca
News of the ‘collapse’ of Silicon Valley Bank (SVB) continues to loom over the global tech startup ecosystem – Indonesia is no exception. As of March 2023, the 16th largest bank in the United States was shut down due to the significant decrease in the values of its investments – among other reasons.
East Ventures launched a white paper on genomics in collaboration with the Ministry of Health of the Republic of Indonesia
East Ventures today launched a white paper “Genomics: Leapfrogging into the Indonesian healthcare future” in collaboration with the Ministry of Health of the Republic of Indonesia and Redseer Strategy Consultants, to provide a comprehensive understanding of how genomics can improve the healthcare system in Indonesia. This white paper serves as a guide for stakeholders in taking the necessary steps to improve our healthcare system and infrastructure for the future.
Peris.ai, a cybersecurity as a service startup, secured funding led by East Ventures
Peris.ai, Indonesian-based cybersecurity as a service startup, today announced the new funding led by East Ventures, the leading and pioneering sector-agnostic venture capital firm in Indonesia. Magic Fund also participated in this funding. Peris.ai will allocate the fresh fund mainly to further build and enhance its cybersecurity platform, train machine learning and AI capabilities, and nurture the ethical hacker community.
Closing 2022 with high achievements, Komunal raises new funding led by East Ventures
Komunal, the first fintech company to digitize BPR in accelerating the financial inclusion in Indonesia’s tier 2 and tier 3 cities, announced that it has successfully secured US$ 8.5 million of funding led by East Ventures (Growth fund). This funding round is also participated by AlphaTrio Sustainable Technology Fund, Skystar Capital, Sovereign’s Capital, Ozora, and Gobi Partners. This fresh fund will be used towards the company's mission, which is to accelerate financial inclusion and strengthen the neo-rural bank ecosystem in Indonesia, especially outside the Greater Jakarta area.