Indonesia’s Dealoka secures Series A funding from SB ISAT Fund
Ideabox alumnus Dealoka sealed an undisclosed Series A funding from SB ISAT Fund. The startup becomes the very first entity that gets funded by SB ISAT Fund since the VC was introduced eight months ago.
SB ISAT Fund manages US$50 million which is rooted from a collaboration between SoftBank Japan and Indosat and aims to facilitate the growth of startups in Indonesia that focus on e-commerce, digital and social media, and mobile finance services.
Dealoka is a marketing platform which “restores” the way deals promotion are done through location-based services. Since its launching back in June last year, Dealoka, which is available for iOS and Android, has been downloaded more than 35,000 times.
Dealoka is Indosat’s tech partner for the acquisition of new customers as well as the company’s points and digital vouchers exchanger. Dealoka has partnered with blitzmegaplex, Wendy, and Baskin Robbins. Through its partnership with Giant, Bakerzin, and Share Tea, Dealoka is also Indosat’s platform for loyalty division development.
“Indosat commits to establish the most powerful digital ecosystem in Indonesia. We can facilitate and support companies which are in their growing phase by initiating a number of events and programs, starting from IWIC idea competition, Ideabox, and SB ISAT Fund. SB ISAT Fund’s investement at Dealoka affirms our long-term commitment for startups in Indonesia,” Indosat’s Group Head Digital Business and Commercial Development Tauseef Riaz stated in his press release.
Sidnei Budiman, Dealoka’s Co-founder added, “We are glad to collaborate with SB ISAT , since they are really experienced in cellular and digital marketing. As Alibaba, to whom SoftBank previously invested, that has become the marketing giant for Chinese merchants, we aim to empower Indonesian merchants so that they may reach the right consumers at the right time through the right message. We want our partnering merchants to be the leader of this digital era.”
The post appeared first on DailySocial and e27.
About Ideabox
Ideabox is a tech business incubator powered by Indosat in partnership with Kejora and supported by Ooredoo Group.
We focus our investments on early stage startups related to telecommunication, media and technology sectors.
We run 120 days acceleration program to bring startups from ideas to awesome product.
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About Dealoka
Dealoka is a complete o2o platform that integrates digital wallet payments, in-store digital voucher validation, airtime topups, bill payments, movie & transport tickets all at the touch of a button.
Leader: Sidnei Budiman
About SB ISAT
SB ISAT Investment Fund is a fund of PT Indosat Tbk, Investment Arm and SoftBank Capital. The fund specializes in investments in growth-stage startups. It seeks to invest in technology companies in sectors such as e-commerce, digital, social media and mobile financial services. It invests in companies based in Indonesia.
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