From mergers and acquisitions to funding and contests, here is the next edition of the Indonesia weekly review – your weekly dose of the latest happenings from the Indonesia startup ecosystem.
Indonesian Coworking Space EV Hive Gets $3.5 Mn Pre-Series A Funding
Jakarta-based coworking space provider EV Hive has raised $3.5 Mn in Pre-Series A funding. The funding round was led by Insignia Venture Partners. The round saw participation from Intudo Ventures, Pandu Sjahrir and a network of prominent angel investors.
Existing investors East Ventures, SMDV and Sinar Mas Land also participated in the round.
This investment marks Intudo Ventures’ debut investment in Indonesia.
Related Article: Indonesian Coworking Space EV Hive Gets $3.5 Mn Pre Series A Funding
Since its founding in 2015, EV Hive’s network has hosted over 187 events with over 17,000 attendees. EV Hive also acts as a community platform for learning and growth acceleration for entrepreneurs.
Zilingo Lands $17 Mn In Series B Funding To Capture Southeast Asia’s Fashion Market
Tim Draper, founder of DFJ also joined the Series B funding round along with the family office of Manik Arora, who was the founder of IDG Ventures India. The participation in Series B funding represents Arora’s first investment in Southeast Asia and one of Draper’s early investments in the region too. Existing investors, Venturra Capital, SIG, Beenext, and Wavemaker joined the recent Series B funding round as well.
Prior to raising the Series B funding round, the company had raised $8 Mn Series A funding in September 2016 and $2 Mn Seed funding round in 2015, taking the total funding raised by Zilingo to $27 Mn.
Stay tuned for next week’s Indonesia Weekly Review.