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Minimarts in Indonesia are becoming a key focus for online brands seeking to tap into the offline retail market, offering convenience and unique products. Meanwhile, Indian startup Scimplify has raised US$40 million in a Series B round to expand its specialty chemical manufacturing services. Other notable developments include Pentera's US$60 million funding for cybersecurity expansion and Scopely's acquisition of Niantic's gaming division for US$3.5 billion.
Minimarts in Indonesia are becoming a key focus for online brands seeking to tap into the offline retail market, offering convenience and unique products. Meanwhile, Indian startup Scimplify has raised US$40 million in a Series B round to expand its specialty chemical manufacturing services. Other notable developments include Pentera's US$60 million funding for cybersecurity expansion and Scopely's acquisition of Niantic's gaming division for US$3.5 billion.
Southeast Asia is attracting global investors seeking safer bets amid US-China tensions, with Singapore and Malaysia showing strong market performance, particularly in banking and semiconductors. In tech news, Singaporean AI startup Ai Palette has been acquired by UK-based GlobalData, enhancing its market intelligence capabilities. Additionally, VinFast partners with Bank Negara Indonesia to boost EV adoption, while other startups in the region secure significant funding for growth.
Amid US-China tensions, Southeast Asia is attracting global investors seeking safer opportunities, particularly in Singapore and Malaysia, where banking and semiconductors are top picks. The region is poised for increased foreign direct investment despite the absence of a true safe haven.In startup news, Singaporean AI firm Ai Palette has been acquired by UK-based GlobalData to enhance market intelligence capabilities. Additionally, VinFast partners with Bank Negara Indonesia to boost EV adoption, while Indian companies like Felicity Games and Giva secure significant funding for growth.
GoTo Group reported a 93% increase in net revenue for 2024, achieving positive annual adjusted EBITDA for the first time, despite remaining loss-making. The fintech segment, including lending and GoPay, drove growth with a 95% revenue increase, while outstanding consumer loans surged 2.7 times. The company is in merger talks with Grab, aiming for greater market share amid Indonesia's economic challenges.
Microsoft is set to launch its first data center in Indonesia, named the Indonesia Central Cloud Region, by Q2 2025. This facility, under construction since 2021, is part of a broader investment of US$1.7 billion and is expected to generate over 106,000 jobs across various sectors, reinforcing the company's commitment to cloud and AI development in the region.
Microsoft is set to launch its first data center in Indonesia, named the Indonesia Central Cloud Region, by Q2 2025. This facility, under construction since 2021, is part of a broader investment of US$1.7 billion and is expected to generate over 106,000 jobs across various sectors, reinforcing the company's commitment to cloud and AI development in the region.
Indonesian agritech firm Elevarm has secured $4.25 million in a pre-series A funding round led by Intudo, with contributions from Insignia Ventures Partners and 500 Global. The funding will be used to develop new agricultural inputs, expand seedling options, and launch AI-driven digital tools to enhance farming practices. Founded in 2022, Elevarm specializes in horticulture and has supported over 15,000 farmers across West Java, Central Java, and Yogyakarta.
Indonesian agritech firm Elevarm has secured $4.25 million in a pre-series A funding round led by Intudo, with contributions from Insignia Ventures Partners and 500 Global. The funding will be used to develop new agricultural inputs, expand seedling options, and launch AI-driven digital tools to enhance farming practices. Founded in 2022, Elevarm specializes in horticulture and has supported over 15,000 farmers across West Java, Central Java, and Yogyakarta.
Southeast Asia's earned-wage access (EWA) sector sees its first exit as Kredivo acquires GajiGesa for about US$12 million, despite the latter's valuation drop. While this signals growing interest from major fintech firms, many EWA startups face challenges in achieving sustainable growth amid high operational costs and lengthy onboarding processes.
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online brands venture into minimarts to capture new markets in indonesia
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