The 4th quarter 2022 round-up of Indonesia’s tech-focused news headlines, reports, articles and downloads, collected across October, November and December of 2022.
Indonesia’s tech news in 2022’s 4th quarter touched on items including the country’s moves towards more electric vehicles (and environmental issues with nickel mining), the central bank’s ‘digital rupiah’ CBDC project, Indonesia’s moves in the ESG space, and more. Hit the links below to read each article online, in full.
December 2022 | November 2022 | October 2022
December 2022: Indonesia
Lowy Institute: Asia Power Index, 2023 edition
- Indonesia: PaperID invoicing startup raises $12M with software-as-a-service platform providing a one-stop platform for creating invoices, and managing accounting and inventory
- Indonesia: “…gov’t aims to boost domestic use of electric vehicles to 2 million units in 2025, and…plans to offer an incentive of $484 for consumers to swap gas-guzzling motorbikes for electric ones.”
- A deep-dive into the problems with electric vehicles and their battery systems, focusing on the impact on Indonesia in nickel sector
- Indonesia: Central bank states that planned ‘digital rupiah’ can be used in future to buy products in the metaverse, allowing it to be “integrated, interconnected, and interoperable [with other CBDCs]”
“BI will roll out the digital rupiah in stages, starting from wholesale CBDC to development of the digital rupiah’s business model for monetary operations and money market, and eventually a retail CBDC for everyday use.”
- Indonesia: ‘Project Garuda – Navigating The Architecture Of Digital Rupiah’ white paper is available to download
- Indonesia: Bakool gains high-profile backing with group buying platform for fresh produce focused on Indonesia’s untapped tier 2 cities
- Muslims in the Metaverse: “New virtual products like ‘Kaaba glasses’ are raising thorny questions about so-called ‘metaworship'”
- Singapore’s Haulio digital haulier announces first overseas acquisition with controlling stake taken in Indonesia’s Logol, a logistics-focused platform
BDA Partners: SEA FinTech Investment Landscape
November 2022: Indonesia
Indonesia: Project Garuda Digital Rupiah CBDC White Paper
- Indonesia: FishLog fisheries management startup gains $3.5M pre-Series A with 4-product suite aimed at streamlining operations for participants
- Indonesia Stock Exchange inks MOU with Singapore’s Metaverse Green Exchange for IDX emissions trading scheme, launching in 2025, with MVGX to build blockchain-based carbon registry and exchange
“The infrastructure also provides an immutable record of the creation and ownership of the credit, as well as a tamper-proof record of the performance of the green project with which the carbon credit is associated, to date,” explains Bai. The carbon registry will run on Ethereum.
Deloitte: Metaverse value to Indonesia
October 2022: Indonesia
Indonesia: E-Conomy 2022 Report – Google, Bain, Temasek (pdf)
- Download: ‘AC Ventures Impact Report – Scaling Impact With Technology, Accelerating ESG Adoption in Indonesia’s Digital Economy’
- Indonesia: Waste4Change gains $5M Series A funding with tech monitoring and recording processes in waste management flow, providing automation in material recovery facilities
- Malaysia’s AirAsia to expand beyond low-cost carrier business with ride-hailing app launch in Bali, testing the Indonesian market for uptake
- Indonesia: SerMorpheus raises $2.5M with Web3 enablement platform, onboarding and aiding brands and creators to develop NFTs, and manage engagement with customers and communities
- Indonesia: YouVit raises $6M Series B with omnichannel distribution of vitamin brand, with a presence in over 20K retail stores, online channels and direct-to-consumer sales
- Hong Kong’s WeLab fintech platform and Indonesia’s PT Astra conglomerate complete acquisition of PT Bank Jasa Jakarta, with plans to launch Indonesia-focused digital banking services
Credit Suisse Research: The global effects of Asia’s aging population
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