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Hello readers,
My family often jokes about how I single-handedly fuel the growth of some companies. As someone who shops online, tunes into over-the-top content, and orders in food – all of them a little too much – sometimes I feel the same way too.
It can be hard to take a step back and see who the different players are in a specific industry, or who’s really powering the tech we rely on so much. At Tech in Asia, we’ve been doing the hard work and drawing up different landscape reports so that you’ll know the names behind your next online purchase.
Today we look at,
- Mapping Indonesian conglomerates’ tech activities
- Gojek launches car-hailing services in Vietnam
- Other newsy highlights such as YC-backed Indian crypto exchange banks funds, as does Singapore’s Resync Technologies for its green AI solutions.
Premium summary
Powering Indonesia’s year of tech deals
Image credit: Timmy Loen
This seems like something we’ve been writing for country after country in Southeast Asia lately, but the numbers back us up: In 2021, Indonesia is set to see the highest level of deal activity in tech for the last five years. The percentage of investments involving Indonesian conglomerates is also expected to hit a high this year.
- Decoding the numbers: From family-owned businesses to state-owned enterprises, anyone who is anyone is now a part of Indonesia’s tech scene in one way or another. The data Tech in Asia has put together suggests that these corporations are more likely to invest in established startups, but this doesn’t mean early-stage firms get the short end of the stick.
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Leading the pack of investors is: Telkom. The state-owned telecommunications giant is the most active corporate investor in Indonesia, with at least 36 deals since 2016. From founders who are still incubating ideas to companies as big as Gojek, Telkom has something for startups at all stages of development.
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Green signal from Jakarta: One can expect more deals from Indonesia’s state-owned enterprises in the future since the government is encouraging them to invest in local tech startups.
Read more: Mapping Indonesian conglomerates’ tech activities
Startup spotlight
More wheels for Vietnam
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