EV Growth leads round to fund Indonesian logistics tech startup.
Singapore-based EV Growth VC sees its first fund oversubscribed from its initial US$150 million target, hitting US$200 million.
Participating in the round are SMDV, Vertex Ventures , Pavilion Capital, Line Ventures, Digital Garage, Agaeti, Triputra, Jerry Ng, EV Growth and OVO.
Funds will primarily be used to accelerate and support the company’s expansion in Europe and North America.
Indonesian logistics-tech startup aims to improve warehouse services for customers and warehouse operators.
Aims to boost growth-stage Indonesian startups.
Round was led by Insignia Venture Partners, with participation from Intudo Ventures, Pandu Sjahrir and a network of angel investors.
Indonesian fashion-based eCommerce platform targets the middle-class market in tier 2 and tier 3 cities.
The US$200 million fund will be aimed at Southeast Asian innovation and tech-related companies.
The investment, if it comes through cements Indonesia as a hot startup destination, with other strong startups to benefit more than rest of the pack.