ID Digest: Elefin, Insignia Ventures join hands; Living Lab Ventures ties up with IHK Berlin

ID Digest: Elefin, Insignia Ventures join hands; Living Lab Ventures ties up with IHK Berlin

B2B e-commerce player Elefin has announced its partnership with Singaporean VC firm Insignia Ventures, while Living Lab Ventures has signed a partnership with IHK Berlin.

Elefin to expand into healthcare sector

Indonesian-based B2B e-commerce firm Elefin has announced a partnership with Singapore’s Insignia Ventures which will allow it to expand into the healthcare sector.

Elefin, which is embedded with a pay-later facility, just celebrated its second anniversary. Since then, Elefin has facilitated transactions amounting to 300 billion rupiah between buyers and sellers in the hospitality and healthcare sectors.

“This strategic collaboration with Insignia has been instrumental in furthering our shared values of providing liquidity to businesses and reinforcing our position as the pioneer of sustainable B2B platforms,” said Victoria Tahir, co-founder of Elefin, in a statement.

The platform has a unique model that allows buyers to leverage the platform to improve their margins while providing fast and impactful assistance to their supply chains.

In the past two years, Elefin has partnered with some well-known hotel chains including Marriott International Hotel Group, Intercontinental Hotel Group, Red Planet Hotel Group, Lawson Group, and LotteMart, as well as various restaurant chains.

Living Lab Ventures to be IHK Berlin’s go-to partner

Living Lab Ventures, the corporate venture capital arm of Sinar Mas Land, has partnered with The Berlin Chamber of Commerce and Industry (IHK Berlin). Under the partnership, Living Lab Ventures will be a go-to-market partner of companies under IHK which have plans to expand into Indonesia.

IHK Berlin is a business organisation which aims to support local or multinational companies in Germany. The organisation will be responsible for sharing their business experience, connecting with the government, public and media, as well as organising trade events and others.

“The collaboration with IHK Berlin will allow us to catch potential startups and German companies which want to enter Indonesia. Otherwise, it will also allow Indonesian tech companies to expand their business to Europe,” Bayu Seto, partner of Living Lab Ventures, said in a statement.

Living Lab Ventures focuses on smart technologies, digital life, and mobility startups. Before collaborating with IHK Berlin, the CVC also became a go-to-market partner for Japanese startups under JETRO to expand in Indonesia.

Edited by: Joymitra Rai

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