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Indonesia

SEA Digest: Etana secures financing from Jack Ma’s PE; InnovestX launches investment app

PT Etana Biotechnologies Indonesia has secured an undisclosed Series B funding round led by Yunfeng Capital while Thailand securities company InnovestX Securities Co has launched a digital investment app. Etana raises Series B funding round PT Etana Biotechnologies Indonesia, an Indonesian biopharmaceutical company, has secured an undisclosed Series B funding

Indonesian aquatech startup eFishery raises $33m loan facility from Bank DBS

The startup plans to use the money to expand its services in Indonesia

Indonesian e-commerce firm Blibli aims for $2b valuation in domestic IPO

Many analysts are sceptical about the timing of the IPO amid rising interest rates.

Asia PE-VC Summit 2022

Indonesian tech giant GoTo takes a three-pronged path to profitability

Data and product innovation as well as cross-pollination will be the key differentiators

Policy & Regulations

Indonesia’s crossborder payments system with 4 other SE Asian countries to be transformational

Indonesia, Singapore, Malaysia, Thailand and the Philippines will integrate their payment networks.

Policy & Regulations

Cross-border payments to be connected in five ASEAN countries next year

Thailand, Singapore, Malaysia, Philippines and Indonesia to be linked

Indonesian payments unicorn Xendit lays off 5% of Indonesia, Philippines staff

The firm cited “uncertain macroeconomic conditions” for the retrenchment.

Indonesia’s SerMorpheus raises $2.5m to popularise Web 3.0

The money will be used to bridge the gap between brands, consumers, and Web 3.0.

Two Indonesian founders-turned-funders are looking to launch new vehicles

SweetEscape founder is planning to launch a new VC fund, while Magic Fund is planning its third vehicle.

Asia PE-VC Summit 2022

‘Warung tech may become attractive as VCs now prefer execution over innovation’

Warungs are reluctant to pay for tech because they prioritise cashflows over profits, said panellists.