Telkom’s MDI Ventures to invest $25m in 10 Indonesian startups in 2016

Indonesia telecom operator Telkom’s venture arm, Metra Digital Innovation (MDI) Ventures, said it will allocate Rp 300 billion ($25 million) to invest in 10 startups this year. The move is part of state-owned Telkom’s initiative to enable innovation and build synergy with the group’s core business.

MDI chief executive officer Nicko Widjaja said, the firm is is aiming to take five to six new startups under its wings soon.

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