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.