Indonesia's TMI, MDI Ventures back Series B1 round of US IoT startup Roambee

Indonesia's TMI, MDI Ventures back Series B1 round of US IoT startup Roambee

TMI, the venture capital arm of Indonesian network provider Telkomsel, in collaboration with fellow CVC MDI Ventures, has made a Series B1 investment in US-based internet-of-things (IoT) company Roambee.

The investment has been made out of the $40-million joint fund the two firms jointly have with Singtel Innov8. The parent company of MDI and Singtel Innov8, Telkom Indonesia and Singtel respectively, are the stakeholders in Telkomsel.

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