Indonesia

Pintarnya raises $16.7M to power jobs and financial services in Indonesia

Startups /

Pintarnya, an Indonesian employment platform that goes beyond job matching by offering financial services along with full-time and side-gig opportunities, said it has raised a $16.7 million Series A round. The funding was led by Square Peg with participation from existing investors Vertex Venture Southeast Asia & India and East Ventures. Ghirish Pokardas, Nelly Nurmalasari, […]

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Google hit with $12.6M fine in Indonesia for monopolistic practices in payment system

Enterprise /

Indonesia’s antitrust agency KPPU fined Google 202.5 billion Rupiahs, equivalent to $12.6 million, on Wednesday for antitrust violation related to its payment system services for the Google Play Store. The KPPU ordered the search giant to cease the mandatory use of Google Play Billing in the Google Play Store. It also asked Google to let

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CarDekho SEA raises first-ever outside funding, co-founder says he’s interested in acquisitions

Fundraising /

CarDekho SEA, a Singapore-based auto financing service platform, has raised $60 million in equity, valuing the company at over $300 million, from Navis Capital Partners and Dragon Fund. This is its first round of external funding, following a previous investment of $40 million from its parent company, CarDekho Group. The company, the Southeast Asia unit

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Apple to shell out $1 billion on a manufacturing plant in Indonesia

Hardware /

Negotiating with one of the largest companies in the world doesn’t sound easy, but that’s precisely what Indonesia has been doing for the past few weeks with iPhone maker Apple. The backstory here is that after the country required smartphones which are sold domestically to be made of at least 40% locally manufactured parts, Indonesia

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Indonesian VC firm Intudo raises $125M across two funds

Venture /

Intudo, the Indonesia-only venture capital firm, said it has raised $125 million across two investment funds — $75 million for Intudo Ventures IV, and $50 million for another fund that will invest in downstream natural resources and renewable energy. Intudo said Fund IV will invest in Indonesian startups that take advantage of the country’s location,

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Indonesia blocks Google Pixel sales after ban on iPhone 16

Hardware /

Indonesia has banned sales of Google Pixel smartphones for failing to meet domestic content requirements, days after blocking Apple’s iPhone 16 in Southeast Asia’s largest phone market. The Ministry of Industry said Google’s phones cannot be traded until they comply with rules requiring 40% local content in smartphones sold in Indonesia. Google must obtain local

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Validus, a Singapore-based digital SME lending platform, secures $50M debt financing to help enterprises in Indonesia

Fintech /

Validus, a Singapore-based digital lending platform for small and medium businesses, has secured $50 million in debt financing from HSBC under the ASEAN Growth Fund strategy. Validus will use the proceeds to support the financial inclusion of micro, small and medium enterprises (MSMEs) in Indonesia, addressing the challenges they face in accessing financial resources. With

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Antler doubles down on Southeast Asia with $72M second startup fund

Fundraising /

Antler, the Singapore VC that focuses on early-stage investments, just closed its second Southeast Asia fund. It’s raised $72 million to double down on startups in Singapore, Indonesia, Vietnam and Malaysia. This should be welcome news for startups. Like other regions, Southeast Asia has faced a persistent funding slump. Between January and July 2024, tech

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