Kul Bhushan · · 1 min readIndonesian tech firm secures $42m from LDA Capital
IndoSterling Technomedia has entered into a put option deal worth US$42 million with LDA Capital, a global alternative investment firm. The platform, which focuses on B2B markets, is the digital tech arm of Jakarta-based IndoSterling Group.
IndoSterling Technomedia CEO Billy Andrian / Photo credit: IndoSterling
Founded in 2011, IndoSterling Technomedia has built a diverse portfolio that includes companies in Indonesia’s edtech, property tech, and digital publishing sectors.
The fresh funding comes as the country’s digital economy is projected to be worth US$146 billion by 2025 and grow at a compound annual growth rate of 20%, according to a report from Google, Temasek Holdings, and Bain & Company.
IndoSterling Technomedia believes the projected growth will benefit the firm and help it become the next Indonesian tech unicorn.
“LDA’s flexible financial solution will aid us to become the leading big data enabler as we intensify the depth of our products and services,” IndoSterling Technomedia CEO Billy Andrian said in a statement.
See also: Carousell in talks for $150m acquisition of 99 Group
Editing by Samreen Ahmad and Eileen C. Ang
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