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.

Having announced the launch of the fund in May last year, TMI made an undisclosed amount of investment in Indonesian digital credit card company Kredivo two months later.

Like Kredivo, Roambee is also a portfolio company of MDI Ventures, after the VC firm invested $2 million into the US-based company in June 2018 to support its foray into Indonesia and other SEA markets.

Founded in 2013, Roambee has been consistently enabling IoT-based smart logistics and asset monitoring solutions to help its customers to implement the most advanced digital supply chain in their companies in order to increase their business performance.

Roambee says its services have been used by over 300 companies across the globe including T-Mobile, Huawei, Oracle, and Accenture. Roambee is headquartered in Santa Clara, California, US and has representative offices in Mexico, Brazil, Germany, South Africa, United Arab Emirates, India, and Malaysia.

“Collaboration with Telkomsel allows Roambee to capitalize on Telkomsel’s reach, their future proof telecom infrastructure and their enterprise sales network to offer an on-demand monitoring solution to Indonesian and Asian enterprises,” said Roambee CEO Sanjay Sharma.

Telkomsel has been developing and expanding the Narrow Band – Internet of Things (NB-IoT) technology. Therefore, its synergy with Roambee helps Telkomsel’s IoT use cases to grow exponentially in order to support Telkomsel’s enterprise customers as well as the realization of Industry 4.0.

 

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.