PT Telkomsel Mitra Inovasi (TMI) partnering with other investors backing United States-based internet of things (IoT) startup Roambee’ Series B1 funding round worth of US$15.2 million - Photo by the Roambee

JAKARTA (TheInsiderStories) – A local venture capital, PT Telkomsel Mitra Inovasi (TMI) partnering with other investors backing United States-based internet of things (IoT) startup Roambee’ Series B1 funding round worth of US$15.2 million. The investment was made through a $40-million joint fund with its sister company, MDI Ventures, under Telkom Group.

Led by Anchor Group, a Swiss-based investment firm, and Comcraft, a global investment group, the Roambee series also included investments from Intuitive Ventures, logistics conglomerate Jebsen & Jessen, and industrialist Anant Singhania.

Anchor Group’ managing partner Dweep Chanana, said, “As the only company to collect, translate and transform data into actionable intelligence operating globally, we believe that Roambee is already materially disrupting the logistics industry and well poised to drive and benefit from further transformation of supply chains.”

Established in 2013, Roambee is one of MDI Ventures’ portfolio companies, having received a $2 million investment in June 2018 to support its Southeast Asian expansion. The operator has more than 200 paying customers with operations in Brazil, Mexico, India, Germany, United Kingdom, and Uni Arab Emirate. Its headquartered in Silicon Valley, California.

Last year, TMI and MD Ventures, get fresh funding of $40 million from its parent company, PT Telkom Indonesia Tbk (IDX: TLKM). The funds use for its business by funding new startups until the end of 2019.

According Chief Executive Officer MTI Andi Kristianto, with the new injection, the new company would look for startups that already had traction and seemed to be able to synergize with assets owned by Telkomsel.

After get fresh funding from its holding, both companies injected undisclosed amount of funds to a strategic investment-based company funded PT Finaccel Teknologi Indonesia or popular with brand Kredivo. In early 2019, both companies had also made initial funding to Kredivo with total amount $30 million.

Kredivo is a startup with innovative products in the form of new alternative digital payment methods, with a variety of methods and payment terms for buyers. Kredivo has been helping payment transactions for major players in e-commerce such as Tokopedia, BukaLapak, Shopee, and Moka’ online cashier system.

In addition to Kredivo, Kristianto admitted, TMI did not set the number of startups that will be funded this year, but certainly the fund manager will see the opportunities. So far, TMI collaborated with MDI Ventures, its holding, and Singapore-based Singtel Innov8.

Meanwhile, MDI Ventures is currently the most active corporate venture capital in Indonesia with a good track record of exit, and Telkom was formed to develop digital business.

To date, MDI Ventures has invested in 33 companies in 10 countries. In investing, there are several startup criteria that are used as references by MDI Ventures, including having high future value and positive synergy value for TelkomGroup product development.

Recently, TMI with MDI Ventures injected $4 million in the first round of its ongoing Series C investment in Anchanto, a Singapore headquartered pan-Asia SaaS technology company. MDI Ventures’ funding comes after Series B funding from Japan’ Transcosmos Inc., and Singapore’ Luxasia Group in May 2017.

The proceeds of the fund will be used to expand the market outreach and to build a stronger regional Southeast Asia presence.

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