Indonesian VC East Ventures looks to raise $609k for COVID-19 detection, cure

Indonesian VC East Ventures looks to raise $609k for COVID-19 detection, cure

Venture capital firm East Ventures says it is targeting to raise a total of Rp 10 billion ($609,000) to produce 100,000 coronavirus test kits and finance a vaccine research project in Indonesia.

The early-stage investment firm says it will work with one of its portfolio companies, deep-tech startup Nusantics, on the initiative. Nusantics is a member of the Technological Research and Innovation Task Force for COVID-19 under the Indonesia Technology Assessment and Application Agency (BPPT).

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