In today’s briefing:
- Adi Sarana Armada (ASSA IJ) – Leading Player in People and Goods Mobility
- Komunal lands US$5.5M in Series A+ round to digitalise rural banks in Indonesia | e27
- Semaai nets US$4.7M to expand its agritech, fintech solutions to Central Java | e27
Adi Sarana Armada (ASSA IJ) – Leading Player in People and Goods Mobility
- Adi Sarana Armada (ASSA IJ) represents one of the most interesting plays on people and goods mobility and end-to-end logistics in Indonesia, being market leaders in auto leasing and auctions.
- Revenues slowed in 9M2023 due to a slowdown in Anteraja because of slower e-commerce but other areas saw strong growth, especially its auction and used car business.
- Adi Sarana Armada continues to build its renamed Cargoshare end-to-end logistics business with new customers and a move into cold chain logistics. Valuations are attractive relative to growth.
Komunal lands US$5.5M in Series A+ round to digitalise rural banks in Indonesia | e27
- Komunal, a fintech company offering neo-rural bank services in Indonesia, has raised US$5.5 million in a Series A extension funding round led by Sumitomo Corporation Equity Asia.
- Jafco Asia, Skystar Capital, Sovereign Capital, and Gobi Partners co-invested.
- With the Series A+ funding, the startup aims to drive financial inclusion in Indonesia by digitalising rural banks.
Semaai nets US$4.7M to expand its agritech, fintech solutions to Central Java | e27
- Indonesian agritech startup Semaai has secured US$4.7 million (approximately IDR 73 billion) in a mix of equity and debt financing led by CyberAgent Capital (Japan).
- New investors Sumitomo Corporation Equity Asia, Ruvento, MyAsiaVC, and Heracles Ventures, besides existing backers Peak XV’s Surge, Accion Venture Lab, and Beenext, participated.
- This brings its total funding raised to date to US$7.6 million.
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