Indonesia's Tech Scene Booms as Startups Secure Millions in Funding
Indonesia's tech scene is buzzing with activity as several startups secure significant funding. Phasio, a manufacturing startup, has raised USD 2.5 million in a seed round. Meanwhile, Luna, an embedded fintech platform, has secured funding led by TNB Aura. Eazy Digital, an insurtech platform, has also raised USD 1 million in seed funding.
Phasio will use the funds to accelerate its go-to-market strategy, scale its engineering team, and improve its platform's features. Luna, which serves over 7,000 retailers and MSMEs in 70 cities across Indonesia, plans to use the funds to recruit talent, expand to new cities, and develop its platform. Eazy Digital, on the other hand, will use the funds to enhance its agency management system and expand into Malaysia and the Philippines.
TNB Aura's managing partner Glen Ramersan believes Luna's access to MSMEs can enable business owners to access a full suite of product offerings. Republik, a social media platform, has concluded its seed funding round, raising USD 6 million at a USD 75 million valuation. The funds will be used to build its platform and develop blockchain-based tools for Web3 creators.
These investments reflect the growing interest in Indonesia's tech industry, particularly in fintech and insurtech sectors. The funds raised will enable these startups to expand their services, improve their platforms, and tap into new markets.
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