Indonesia: Maison invests in e-commerce site; ANGIN expands network

Soucre: pixabay

Indonesia-focused B2B e-commerce site WOOK has raised $22 million in a Series B round led by private equity firm Maison Capital. Meanwhile, Indonesian angel investment network ANGIN recently announced a new office in Medan, its first expansion within the country.

Maison leads Series B for WOOK

Chinese private equity firm Maison Capital has led a $22-million Series B round for e-commerce platform WOOK, AVCJ reported. Another local PE company Founder Danen Ventures also participated in the round.

WOOK is a B2B e-commerce site dedicated to linking Chinese brands and buyers in Indonesia. The site distributes brands such as DJI drone, Inmotion, Airwheel, Huntkey, ORICO, and TENDA. It also sells its in-house brands VIVAN and ROBOT.

Founded by Chinese entrepreneur Longhua Xu, WOOK has over 10,000 retailers and a team of 300 salesmen across Indonesia. The platform also has 17 branch offices in the country.

WOOK received its series A financing round from Wu Xiaoguang – a former Tencent senior executive vice president and co-founder – and a number of other investors like Ling Daihong, Yang Xiangyang in Shenzhen and Dark Horse Fund.

ANGIN expansion to Medan

Angel Investment Network Indonesia (ANGIN) has begun to expand its reach in Indonesia by opening a new office in Medan. Tying up with a local partner – entrepreneur and investor Edy Tan – ANGIN’s Medan arm will begin operation in June. It will be based in a co-working space in Medan’s business center called Clapham Collective.

Medan has a population of 30 million – the fourth largest in Indonesia – and within close proximity to Singapore, Kuala Lumpur and Bangkok.

ANGIN Medan is ANGIN’s first subsidiary. To “amplify its impact”, ANGIN is exploring similar opportunities in other regions in Indonesia.

Also Read:

Angel investing can help push entrepreneurship in Indonesia: Shinta Kamdani, ANGIN

Indonesia: Kargo gets funding from East Ventures, ANGIN angel investor

China: IFC invests in Maison’s $200m fund, takes stake in PSBC

China Dealbook: Starr leads $70m round in Gushengtang, Maison to exit Shanghai Guanyi

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.