Indonesia’s online vocational training platform Arkademi announced that it has secured undisclosed funding from US-based venture capital firm SOSV while Jakarta-based legal news site Hukumonline has raised Series A funding from US-based Media Development Investment Fund (MDIF).
Arkademi secures funding from US-based SOSV
Indonesian online vocational learning platform Arkademi has secured an undisclosed investment from US-based venture capital firm SOSV, according to its statement last week.
Established in 2018, it provides online training courses in journalism, entrepreneurship and social media marketing.
“Indonesia requires 113 million skilled workers and we’re still 57 million short. The gap is real and has started to turn into a serious issue. Meanwhile, the unemployment rate still accounts for 5% of the population. This is a threatening issue for all industries. Arkademi was established to help alleviate it,” co-founder and CEO Hilman Fajrian said.
Arkademi will allocate the fresh funds to hire talent, enhance its products, and expand its business in Indonesia.
The startup expects to offer 200 courses and partner with 150 institutions this year. The company currently offers 50 classes and collaborates with 20 partners.
Arkademi joined the Amazon Web Service (AWS) Asia Pacific Edstart Incubation programme in 2018. The firm will also join SOSV accelerator programme under MOX or Mobile Only Accelerator, an accelerator for mobile-first, mobile-only markets including Southeast Asia, South Asia and Latin America.
Legal news site Hukumonline completes Series A from US-based MDIF
Jakarta-based legal service provider Hukumonline has completed its undisclosed series A follow-up investment round from New York-based non-profit organization Media Development Investment Fund (MDIF).
Established by a group of legal practitioners and law reform activists in 1999, it provides a database of regulations, digital legal information, and court decisions in Indonesia. It provides free access to the public, but also offers premium content to businesses and multinational corporations.
MDIF invested in the firm through its Emerging Media Opportunity Fund I or EMOF. The funding will allow Hukumonline to develop new products, improve existing products and grow its subscriber base number.
“Hukumonline continues to perform strongly and has firmly established itself as one of the country’s leading sources of legal information and analysis,” said MDIF Deputy CEO Mohamed Nanabhay.
So far, MDIF, which provides debt and equity financing to independent media companies, has invested $225 million in 117 independent media firms across 41 countries.
Meanwhile, EMOF is a private equity fund focused on investments in digital and broadcast media primarily in South East Asia, Africa and Latin America. Its portfolio includes Malaysia-based political news site Malaysiakini, Jakarta-based news and analysis site Katadata, and radio and online news portal Cambodian Center for Independent Media.