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Here’s what you might’ve missed in Southeast Asian tech

Tokopedia’s William Tanuwijaya speaking on stage at TIA Jakarta 2016.

Tokopedia gets over US$1 billion in fresh investment in addition to a significant new shareholder, Gobi Partners launches a fund to address Southeast Asia’s supposed series B problem, and Obike secures US$45 million to take bicycle-sharing to new markets. Here are some of the big stories from Southeast Asia’s tech and startup ecosystem in the last seven days.


Uber has appointed a new chief business officer for its Asia-Pacific operations. New boy Brooks Entwistle has previously served as CEO of regional investment firm Everstone Group and chairman of Goldman Sachs Southeast Asia. Uber said his appointment reinforces Uber’s commitment to “writing a new chapter” in Asia-Pacific, where it has faced fierce competition and numerous controversies. (Tech in Asia)

Gobi Partners has launched a new Southeast Asia-centric US$200 million growth fund. The pan-Asia venture capital firm said its Meranti ASEAN Growth Fund, which has so far closed US$50 million in backing, will focus on what it sees as underfunded series B and C rounds in the region. (Tech in Asia)


Inside Facebook’s new Jakarta office. Photo credit: Tech in Asia.

Meranti’s first disclosed investment is in Sale Stock. The Indonesian fashion startup raised a total of US$27 million in its “series B+” round, which Gobi Partners co-led with Singapore-based VC firm Golden Equator Capital. (Tech in Asia)

Alibaba led a US$1.1 billion investment in Tokopedia. The Indonesian consumer-to-consumer online marketplace announced that the Chinese internet giant is now one of its major shareholders at its eighth anniversary event. (Tech in Asia)

Facebook has opened its first permanent office in Indonesia. The country is Facebook’s fourth-largest market in terms of the size of its user base, and Jakarta is the world’s most active city on the US company’s Instagram app. But it may be that Indonesia’s strict new regulations for internet companies are what ultimately encouraged the move. (Tech in Asia)


Obike Singapore bike-sharing

Photo credit: Obike.

Obike has raised one of the largest-ever series B rounds in Southeast Asia. The dockless bike-sharing service got US$45 million from investors including an unnamed “leading global transportation platform.” Obike – which has already launched in markets across Asia-Pacific and Europe – said it would use the capital to fund further international expansion. (Tech in Asia)

Money transfer startup SingX has secured US$4.5 million in a pre-series A round. The platform currently enables remittances from Singapore to India, Hong Kong, and Malaysia, and is planning to use the investment to expand its services to new markets. (Tech in Asia

This post Here’s what you might’ve missed in Southeast Asian tech appeared first on Tech in Asia.

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