Akulaku in Talks to Raise $100 Million with Ant Financial as Potential Backer

Written by: admin on January 11, 2019

Jakarta-based Startup Akulaku in Talks to Raise $100 Million Series D Round, Having Potential Backer as Alibaba's Ant Financial

An ecommerce platform for electronic goods, Akulaku is reportedly in an advanced discussion to complete a Series D round of financing, hoping to raise up to $100 million in this round. According to sources, potential backers include Alibaba’s financial affiliate Ant Financial, which will be joining the round as a strategic investor.

If the deal is pushed through, will bring the firm’s total funding to $220 million. In last October it raised a $70 million Series C. It will also grant Alibaba’s a further reach into Indonesia’s ecommerce landscape. Besides Indonesia, Akulaku also has a presence in the Philippines, Vietnam, and Malaysia.

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Central Bank Unveils a 3.4% Hike in Indonesia's Retail Sales in November While December's Growth is Projected to Climb to 4.7%

A survey carried out by the central bank indicates that Indonesia registered a 3.4 percent growth of retail sales in November on a yearly basis, ticking up from a 2.9 percent in the previous month. The main sales drivers were supported by clothing, automotive fuel sales, as well as cultural and recreational goods.

The momentum is expected to continue, with predicted retail sales growth to pick up the pace at 4.7% annually in the fourth quarter, compared with 4.6% in the third quarter.

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Thailand's Media Mogul RS Company Bets on Retail Trade as Its Income Generator for 2019

Under this year’s new strategy, up to 60% of the company’s total income will come from its high-end retail trade while 30% from its media business. RS Company expects to witness around $15.6 million in revenue this year.

At present, RS Company is managing more than 1 million database customers.

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Japanese Discount Store Don Quijote to Open Its Second Southeast Asia Branch in Thailand in February

Slated to open on February 22nd, Don Quijote is to open Donki Mall in Bangkok, Thailand. Together with the producer and distributor of TOA paint and coating products, this is the second outlet in Southeast Asia after Singapore.

The joint venture in Thailand will see Don Quijote holding 49%, TOA Group 40%, and Nippon Parking 11%. Similar to stores across Japan, Don Quijote promises products and food from Japan that are well-loved by Thais.

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Genesia Ventures' New Fund to Fuel Southeast Asian and Japanese Startups with $80 Million in Capital

The launch of Genesia Ventures’ second fund worth $80 million, which aims to invest in seed-stage startups across Japan and Southeast Asia. Prior to this, Genesia Venture Fund Ⅱ has already raised $45 million and expects to make the final close at the end of September 2019.

In addition, Takahiro Suzuki, previously CEO of Indonesian VC firm CyberAgent Ventures, has joined Genesia as a General Partner. Genesia has already been making preparations for a representative office in Jakarta.

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