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Hi readers,
Let’s start off Monday with good news: China’s out-of-control rocket debris has landed in the Indian Ocean. Interestingly, I learned about this through TikTok, where someone uploaded a clip of some rocket rubble flying over her house.
From getting my news from Reddit and now TikTok, technology is constantly changing our day-to-day activities with every new app that enters our lives. That’s why we love what we do here at Tech in Asia, uncovering news about startups that started from zero but could become game-changers of the future.
It’s difficult to pinpoint the next big thing, but here’s what we know. Among the Southeast Asian countries, Indonesia is buzzing with entrepreneurial spirit – the country has the highest percentage of youth who want to start their own businesses. Venture capital firms also shelled out a lot of money last year to finance these entrepreneurs.
Today we look at:
- The startups in Indonesia that are getting attention these days
- An Indonesian ecommerce enabler that banked US$45 million
- Other newsy highlights such as ByteDance’s plan to hire thousands of staff for its ecommerce arm and Tokopedia’s new operating license for its lending unit
PREMIUM SUMMARY
The companies in Indonesia that made the right moves
We all probably know this already: Indonesia’s tech industry is growing fast. Last year, the archipelago clinched 70% of the funding invested in Southeast Asia. And this year, we’re already seeing some huge funding rounds taking place from companies such as Social Bella, a Jakarta-based beauty and personal care tech startup that raised US$56 million. Which other companies are getting attention in Indonesia recently?
- Money on my mind: Unsurprisingly, most of the Indonesian startups that have recently raised belong to the fintech sector. What’s interesting, though, is that there has been an increase in the number of investment platforms getting funded, which could stem from the rise of younger investors, as our journalist noted in his article.
- Hey, big spender: Retail is another sector that’s gaining traction in Indonesia. Among those that secured funds lately are startups selling eyewear, footwear, grocery items, and even made-to-order milk tea.
- Going solo: There are also a couple of startups geared towards assisting individuals with businesses be more independent. One of them, for example, helps independent merchants and influencers sell better online.
Read more: 50 rising startups in Indonesia
Similar listicles but in other countries:
Riding the ecommerce wave
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