The acquisition signals The FIT Company's effort to develop a wellness ecosystem in Indonesia.
The move comes on the heels of an overall $250 million investment in GOJEK.
The proceeds will be used to strengthen the company’s capital as well as its financial structures.
GOJEK has introduced a new insurance platform, Go-Sure, while e-commerce site Blibli has launched a live streaming app.
This is MDI’s third fund. The venture capitalist launched a $40 million fund in May 2019.
Sinar Mas Group holds 8.5% stake in IBS through its listed subsidiary Dian Swastatika Sentosa.
The acquisition will help MNC Vision ramp up its services in the paid TV business.
The partnership will sharpen its focus on cashless payments, a key frontier in the region's super app battle.
Q & A
It raised $25 million from investors including Warburg Pincus and Sequoia in October 2018.
Indonesian B2B meal solutions marketplace Redkendi has raised an undisclosed amount in seed funding from local investment firm Prasetia Dwidharma.
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