Digital Media Nusantara has secured an undisclosed pre-Series A bridge financing from Malaysia Debt Ventures (MDV), while Indonesia’s McEasy has announced a $1.5 million seed funding from East Ventures.
Digital Media Nusantara raises funds from Malaysia Debt Ventures
Digital Media Nusantara, a Malaysian financial technology and media company, has secured an undisclosed pre-Series A bridge financing from the ministry of finance’s subsidiary Malaysia Debt Ventures (MDV), the company said in a statement on Tuesday.
The funding will be used by the company to digitise its media brands, including The ASEAN Post, Reimagining Southeast Asia, and Spotlights Labs, and to develop its machine learning and AI-enabled capital markets analytics platform called Discovery Technologies.
“Digital Media Nusantara’s mission is to bridge the data and information gap surrounding Southeast Asia’s capital markets,” Rohan Ramakrishnan, Digital Media Nusantara founder and managing director, said.
The company works with software developers in Singapore, India, and Europe to co-develop its complex projects by the first quarter of 2022, the statement said.
Digital Media Nusantara will run additional bridging rounds and targets to close Series A funding in January 2022 to further its business.
Indonesian logistics startup McEasy raises $1.5m
Indonesia’s logistics tracking and management startup McEasy announced on Tuesday that it has secured $1.5 million in a seed funding round from East Ventures for technology development and marketing.
McEasy provides software-as-a-service (SaaS) digital solutions, which include real-time vehicle location tracking, logistics process planning and monitoring, and an app that connects both services, allowing customers to track their vehicle position and operational costs.
The company seeks to use the fresh funding to improve its R&D division and to support its marketing and sales division to reach more players in Indonesia’s logistics sector.
McEasy targets to double the number of vehicles in its system by the fourth quarter of 2021.
“With the current business plan on the table, we believe that the new funds will drive the company’s growth exponentially,” Raymond Sutjiono, McEasy’s co-founder said.
The company, which was founded in 2017 by Purdue University graduates Raymond Sutjiono and Hendrik Ekowaluyo, has benefited from the pandemic that has forced millions of Indonesians to use e-commerce that relies on logistics players.
East Ventures recently led a $36 million funding round in Indonesian e-commerce enabler SIRCLO.