Wavemaker Partners, Alpha JWC Ventures, and Insignia Ventures Partners joined the round.
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The fresh capital will be used to expand Ajaib’s technology infrastructure, recruit engineering talent, and deepen its product offerings.
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The latest investment comes after the firm received US$20 million in a series A funding round led by Northstar Group last year.
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Indonesian food and beverage chain Goola received its first institutional funding of US$5 million from local venture capital firm Alpha JWC Ventures.Goola was founded in 2018 by Kevin Susanto, Benz Budiman, and Gibran Rakabuming, Indonesia’s first son.It has currently opened five stores in Jakarta, offering a grab-and-go version of local drinks such as Es Doger Jeger, Es Kacang Hijau, and Es Goola Aren.According to a statement, the startup has 15 more stores ready to open this year.It also said it looks to reach 100 stores in Indonesia by 2020, with plans of expanding regionally and globally.Goola is also planning to launch a mobile app aimed at reducing waiting time in stores and tracking consumer trends.
Market research is critical to a company’s success.However, trouble arises when survey participants are not always truthful about their responses.Neurosensum, an Indonesia-based market research startup, has been attempting to tackle this problem.It uses everything from virtual reality and facial coding to brain mapping and eye-tracking to gain a deeper understanding of customer preferences and behavior.After all, the human brain works in mysterious ways, and it’s hard to lie on a subconscious level.When Tech in Asia spoke to Neurosensum in January 2019, it had raised US$620,000 from Alpha JWC Ventures as well as additional funds from some angel investors.
Kopi Kenangan, a startup that wants to make quality, fresh coffee affordable to Indonesian consumers, has raised $20 million as it begins to consider overseas expansion in Southeast Asia.The round comes courtesy of Sequoia India and Southeast Asia, via the $695 million investment fund it closed last year.Started in 2017 by Edward Tirtanata and James Prananto, the company aims to bridge the gap between cheap street vendor coffee and drinks priced at the higher end of the spectrum from international chains such as Starbucks — the ‘sweet spot,’ you might say.That delta is a major reason why Indonesia, which is the world’s fourth-largest coffee exporter, has Southeast Asia’s lowest coffee consumption per person, Tirtanata argued.Rather than lattes, mochas or flat whites, its top-selling drink is ‘Es Kopi Kenangan Mantan,’ a sweet Indonesian coffee that uses palm sugar, among other local Southeast Asian beverages.Ingredients are sourced locally, including four different coffee blends from across the country and organic palm sugar.
Singapore-based Zuzu Hospitality Solutions today announced it has raised a US$3.7 million series A round led by Wavemaker Partners.The round, which was closed in Q4 2018, will fund the startup’s plan to expand to Thailand, Malaysia, and Australia.Existing investors Golden Gate Ventures, Convergence Ventures, and Alpha JWC Ventures participated in the round.New investors Access Ventures and Line Ventures also joined in.Before the new injection, Zuzu’s last funding was a US$2 million seed round in 2017.Zuzu offers an outsourced yield management solution for independent hotels.
Bandung-based “hi-tech” accommodation startup Bobobox announced it has raised an undisclosed pre-series A funding from existing investors Alpha JWC Ventures and Genesia Ventures, as well as three undisclosed international backers.Bobobox plans to use the money to fuel its expansion across Indonesia in the next two years.Founded in 2017, the startup provides affordable hotel accommodation in the form of “pods.”It currently has one flagship hotel in Pasir Kaliki, Bandung, which houses 62 pods.It’s looking to expand to 11 more locations this year, starting with Greater Jakarta, Bogor, Bali, and Yogyakarta.Bobobox co-founder and managing partner Antonius Bong shares that the startup wants to be Indonesia’s “biggest budget accommodation chain by 2020, operating in over 200 locations.”
Indonesian fund Alpha JWC Ventures has commenced its entry into Vietnamese startup scene through a pre-series A funding for Base.vn, a software-as-a-service company.The funding of US$1.3 million is Base.vn’s second investment round.This round was co-led by Alpha JWC Ventures and Beenext.The company’s previous backers 500 Startups and VIISA also joined in.Alpha JWC Ventures claims this is the biggest ever funding round raised by a B2B tech company in Vietnam.Base.vn helps enterprises streamline management and operation activities such as hiring, payroll, task management, team collaboration, and approval management.
Indonesian digital media advertising platform Target Media Nusantara (TMN) has received an undisclosed series A funding from Alpha JWC Ventures.The platform is part of China-based Focus Media Group’s – an interactive digital media network – expansion efforts into Indonesia.TMN started mid-2018 and aims to be a market leader in the country’s indoor digital media advertising sector.By the end of 2018, the company plans to achieve 900 advertising screens installed in 200 greater Jakarta buildings.It has 450 screens installed in 104 buildings thus far.
Indonesian coffee chain Kopi Kenangan announced on Thursday its recent seed funding of US$8 million from Indonesia-focused venture capital firm Alpha JWC Ventures.Founded in August 2017 by serial entrepreneurs Edward Tirtanata and James Prananto, Kopi Kenangan is Indonesia’s fastest-growing grab-and-go coffee chain.Within a year, it already opened 16 stores in Greater Jakarta area, and the number will keep on rising as the company plans to operate a total of 30 stores by December 2018.Tirtanata said that he sees the startup “not just as a small coffee shop business, but something that can be grown into a big venture with [a] ‘new retail’ concept through [its] additional technological side.”Last month, Indonesian VC firm East Ventures partnered with local coffee chain Otten to launch Fore Coffee, a tech-driven, on-demand coffee concept store.In China, tech-enabled chain Luckin Coffee achieved unicorn status after raising US$200 million from investors including Singapore sovereign wealth fund GIC.
The peer-to-peer lending startup, which allows small and medium-sized enterprises to borrow money from both accredited and retail investors, closed its series B funding round.Softbank Ventures Korea led the round with participation from Sequoia India, Golden Gate Ventures, and Alpha JWC Ventures.Sharia-compliant HelloGold closes series A round from 500 Startups (Malaysia).The Kuala Lumpur-based fintech startup, which provides what it claims to be the world’s first sharia-compliant platform for trading gold, secured the funding from 500 Startups.The self-collection platform for online shoppers has closed its seed round with funding from TRi5 Ventures and a group of angel investors.Park N Parcel will use the capital to boost its team through new hires, and to expand its business to Hong Kong, Japan, and Thailand by the end of the year.
The round included returning investors Sequoia India, which led the Singapore-based startup’s Series A two years ago, Golden Gate Ventures and Alpha JWC Ventures, as well as new backers Qualgro and LINE Ventures.Funding Societies also said it has raised credit lines from banks and financial institutions to lend to small- to medium-sized businesses.Founded in 2015 by Kelvin Teo and Reynold Wijaya, the startup’s name represents its “vision of financial inclusion in Southeast Asia.”Its Series B was oversubscribed, says Funding Societies, which operates in Singapore, Indonesia, where it is called Modalku, and Malaysia.When it announced its $7.5 million Series A in August 2016, Funding Societies had disbursed $8.7 million Singaporean dollars, a number that has since grown to $145 million SGD, chief executive officer Teo tells TechCrunch.Among many players, we were most impressed with Funding Societies for what it has achieved in a short period of time and its potential to continue to become the number one player.”
Sale Stock, an Indonesian ecommerce startup that sells its own women’s fashion label, has raised a US$27 million “series B+” round co-led by venture capital firms Gobi Partners and Golden Equator.Alpha JWC Ventures, Convergence Ventures, GEC, KIP, MNC, and SMDV also took part in the round.Gobi backed the startup through its new US$200 million Meranti ASEAN Growth Fund, which has closed US$50 million so far, it said today.The fund looks to back 15 or more startups in Southeast Asia.Its limited partners include MAVCAP, GS Shop, and CKM.Sale Stock appeared to have gone through some rough patches last year, laying off over 100 people and trimming salary costs by 13 percent.
This Series A round was led by Indonesia s Venturra Capital, from its $150 million fund, with participation from Singtel Innov8, Golden Gate Ventures, Alpha JWC Ventures, Skystar Capital and GMO Venture Partners among others.All in all, Carro — which only launched in November 2015 — said it has welcomed ten different investors from across Indonesia, Singapore, Japan and China.Carro plans to hire local staff to run each country business much like a founder, rather than shipping expats in, he explained.There are plenty of classifieds that help car owners to sell their vehicles online, but Carro aims to stand out from the crowd with a services-focused offering.Aside from the commission fees it takes when it sells a partner s package, it draws money from each transaction that it enables.However, with tens of thousands of dollar purchases at stake, mobile tends to be for browsing with most consumers preferring to buy on a tablet or laptop after doing more research before parting with their hard-earned cash.
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