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Hello readers,
One of the upsides in my line of work is looking for stories, and some of these are so incredible that I can’t stop thinking about them. One example is the story of two-time Pulitzer-winning journalist and National Geographic fellow Paul Salopeck, who is on a transcontinental journey, walking in the footsteps of the humans who first migrated out of Africa in the Stone Age.
Every time I read the latest dispatch from whichever country he’s traversing through, it makes me think more deeply about all the decisive pivots humans have made. These lessons echo even in the workings of conglomerates like Indonesian carmaker Astra and the ways in which it is fitting into today’s tech-ruled world.
Today we look at,
*A visual story on how Astra has dipped its toes in Indonesia’s tech industry
* The US$93 million SoftBank-led round of NFT firm Sandbox, an Animoca Brands subsidiary.
* Other newsy highlights such as ShopBack’s acquisition of Hoolah and this fintech startup that has more than doubled its valuation.
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Safe and timely bets
Image credit: Timmy Loen
Traditionally known for automobiles, Indonesian conglomerate Astra wants to be an active part of Southeast Asia’s tech and startup ecosystem. It’s a surefire way to future-proof its own traditional business, especially after Covid-19 dented the sales of motorcycles, cars, and automotive components.
- The headliner: Astra’s most notable investment is perhaps in Gojek – the conglomerate was part of Gojek’s US$1.5 billion funding round in 2018. The following year, Astra pumped in another US$100 million into the super app for a joint venture that later resulted in GoFleet, an all-in mobility solution.
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A wide net: The conglomerate has spread out its bets – its subsidiary Astra Ventura has also funded other startups, including online produce marketplace Sayurbox and healthtech platform Halodoc. It is also present in the fintech space.
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More than an investor: Astra wants to do more than just make investments in tech startups. It is also exploring new sources of growth by launching its own digital services.
Read more: Visual: Indonesian carmaker Astra’s deep digital push
Startup spotlight
NFTs are hotter than hot cakes
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