GDP Venture co-leads $12m Series A funding for AI startup Element Inc

Artificial intelligence (AI) startup Element Inc has secured a $12 million funding from a Series A round led by Indonesia’s GDP Venture and US-based PTB Ventures.

As announced by the startup in an official statement, other investors participating in the round include a number of Indonesian corporations namely private lender BCA, through its venture capital arm Central Capital Ventura,  state lender Bank BRI, through its VC unit; and state-owned telco firm Telkom Indonesia, through its VC arm MDI Ventures.

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