The fresh capital will be used to expand its operations by opening up more flagship hotels in new cities.
The funding will be used to invest in core technology infrastructure, marketing, and team growth.
Grab will also establish a Grab Innovation and Engineering Lab as the R&D centre in BSD City, which is being developed as Indonesia's Silicon Valley.
The announcement was made through a post on the company’s Instagram account, in which it admitted that it had been “unable to make Qlapa profitabl
Q & A
Hadinegoro has taken the company through three funding rounds, raising a total of over $35 million in the space of just over a year.
Indonesian e-bike sharing startup Migo is facing regulatory challenges just a few months after its launch.
The beauty-focused community startup boasts 2.5 million users on its website and app, and claims to be already profitable.
The Limakilo deal comes just over a month after Warung Pintar announced the completion of its $27.5-million Series B round.
IPOs & Markets
Football is Indonesia’s number one sport which attracts enormous public interest. However, the country’s premier professional league is currently
Other participating investors include Lilly Asia Ventures, Kington Capital, King Star Capital and Chengdu Miaoji.
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