The growing technology and digital economy market in Indonesia have been attracting many foreign and domestic technology investors from Venture Capital to tech company giants. There have been many major transactions in this sector and based on expert’s observation, the interests from investors are still going strong.
Having said that, we compile herein the recent Tech Deals that have been completed. The information we provide in this article is compiled based on the deals that have been announced and publicly known.
Please refer to this link for the complete article and list of Tech Deals that have been completed during the period of 1st January to 21 May 2021
NLP Commentary to Recent Tech Deals
The capital funding of Indonesia’s startups blooms in 2021 despite the economic slowdown in 2020 due to the coronavirus outbreak. Despite the economic impact of the pandemic, the technology sector is still growing given that social restrictions have pushed Indonesia to digitalize its economy. The particular areas which have been attracting many interests are, fintech, e-commerce, and Software as a Service (SaaS), logistic and transportation, ed-tech, and health-tech.
Experts view that fintech sector is potential because there are many Indonesians who have not been engaged in formal financial services i.e., banking. They also predicted that e-commerce would keep emerging within this year.
Transportation and logistics startups are also advantaged due to the emerging e-commerce business and various mobilization restrictions imposed by the Indonesian government during the pandemic. It is not surprising that Gojek is targeting a Series F fundraising of US$3 billion (around Rp50 trillion) according to the disclosed information that we can access publicly. However, the real amount of investment may be different due some investors are reluctant to disclose the same when funding takes place.
In addition, ed-tech and health-tech platforms are found attractive by numerous investors since early 2020. Google, Temasek, and Bain and Company noted that the use of digital health services has quadrupled compared to before COVID-19. Meanwhile, the number of downloads of educational applications has tripled within 2020.
Considering the above points, we predict that the investment climate in the technology industry would keep intensifying in the second half of 2021.