Indonesia’s travel booking unicorn Traveloka’s latest funding round, in which it raised $250 million, was “the toughest” in the company’s history, said the company’s chief strategy officer Joydeep Chakraborty at the Asia PE-VC Summit 2020. The funding, which was sealed in July, came around the time when the company faced severe headwinds from the coronavirus outbreak.
“They [investors] took their time to make sure that they are going to come into a company which, first of all, can survive the crisis, and secondly, has the management that can navigate the company back to its growth path,” Chakraborty said, added.
Also participating in the session – Navigating the crisis and fundraising during the pandemic – was Andree Susanto, co-founder & CEO, Waresix. The Indonesian logistics technology startup, which raised significant funding during COVID-19, admitted that it had also experienced unprecedented challenges in the process of securing its investment.
