Malaysia's Carsome to invest $7.1m in Indonesia operations

Malaysia-based online used car platform Carsome, which recently raised $19 million in a Series B round, has committed a sum of $7.1 million to its Indonesia operations to drive further growth in the country, according to the startup’s Indonesia country manager Andreas Djingga.

Carsome had earlier said that proceeds from its Series B round would be used to scale and deepen its foothold in Indonesia and Thailand, the region’s largest automotive markets with over 3.6 million used car transactions annually. The funding round was led by Burda Principal Investments and joined by Gobi Partners.

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