Exclusive: Indonesia’s Target Media Nusantara bags Series A funding from Alpha JWC

The Target Media Nusantara team

Digital media advertising platform Target Media Nusantara (TMN) has secured Series A funding from Indonesia-focused venture capital firm Alpha JWC.

Financial details were not disclosed. The investment in TMN comes after Alpha JWC led a Series A round of funding for another media startup, Nusantara Technology, in October.

TMN is a part of China-based Focus Media Group, which claims to be the country’s largest lifestyle targeted interactive digital media network. It runs an LCD display, poster frame, movie theatre, and in-store advertising network.

Focus Media has previously expanded to Singapore, Hong Kong, and South Korea, where it claims to cover a total of over 3 million screens catering to more than 5,500 brands. It launched TMN in Indonesia in mid-2018 and is eyeing the country’s indoor digital media advertising sector.

TMN founder and chief executive Thomas Chan said the fresh funding will be used for business development and operational purposes. The media startup plans to double its presence from 450 advertising screens in the Greater Jakarta area to 900 screens by the end of 2018.

It expects to stand out from the competition in the domestic market with features such as live uploads, smart audio (where ad volume in an elevator is automatically adjusted based on the number of people) and an in-the-works eyeball-tracking analytics technology.

“We are proud to be the exclusive and trusted partner for Focus Media Group for the expansion in Indonesia,” said Alpha JWC Ventures co-founder and managing partner Chandra Tjan.

Alpha JWC firm has invested in nearly 30 companies across the fields of media, co-working space, financial services, SaaS, e-commerce and marketplaces; and scored one exit by selling its stake in co-working space operator Spacemob.

The VC firm recently launched its $100-million second vehicle. Its first fund had a $50-million corpus and was backed by institutional investors in Asia, the US and Europe.

Also Read:

Exclusive: Alpha JWC, Insignia invest in Indonesian media startup Nusantara

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.