In today’s briefing:
- Mitra Keluarga Karyasehat (MIKA IJ) – Stepping on the Gas
- Credit Scoring Firm Rings up $4m to Boost Financial Literacy in Indonesia
- Indonesian Agritech Firm EFishery Hits Unicorn Status with $108m Series D
- JumpStart Coffee Gets Fresh Funding, Targets Overseas Expansion
Mitra Keluarga Karyasehat (MIKA IJ) – Stepping on the Gas
- Mitra Keluarga (MIKA IJ) recently booked 1Q2023, where headlines did not reflect the true recovery of the core business given COVID was still a factor boosting last year’s revenues.
- Non-COVID inpatient and outpatient volumes were up by +19% YoY reflecting the strength of the recovery as the environment normalizes but occupancy rates still have a significant upside.
- Mitra Keluarga has started to put foot-to-pedal in terms of expanding new hospitals and increasing capacity at existing hospitals combined with increased efficiencies. Valuations are attractive versus history.
Credit Scoring Firm Rings up $4m to Boost Financial Literacy in Indonesia
- Financial illiteracy has become a global problem, leading many to make uninformed, crippling decisions. This is especially true in Indonesia.
- With informal financing and predatory lending running rife, the country has a financial literacy rate of 38%.
- SkorLife, a credit builder based in the country, looks to change this. Founded by Ongki Kurniawan and Karan Khetan in 2022, the startup allows users to check their credit scores from Indonesia’s bureaus.
Indonesian Agritech Firm EFishery Hits Unicorn Status with $108m Series D
- Indonesian agritech startup eFishery has raised US$108 million in series D funding, pushing its post-money valuation to US$1.3 billion, according to VentureCap Insights, which tracks regulatory filings.
- The latest round is led by 42xfund and it saw participation from existing investors Northstar Group and SoftBank Vision Fund II.
- EFishery last raised US$90 million in a series C funding round in January 2022.
JumpStart Coffee Gets Fresh Funding, Targets Overseas Expansion
- JumpStart Coffee, an Indonesian startup that makes smart coffee machines, has raised an undisclosed amount in a series B round led by Cool Japan Fund and Living Lab Ventures.
- Founded in 2018, JumpStart specializes in manufacturing vending machines that can serve over 20 types of coffee and non-coffee drinks.
- The startup said it has installed 2,000 machines in the Greater Jakarta Area, Bandung, and Surabaya.
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