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Telkomsel Venture Capital Unit Leads Pre-Series A Funding at Feedloop

Telkomsel Venture Capital Unit Leads Pre-Series A Funding at Feedloop

Telkomsel’s venture capital unit, Telkomsel Mitra Innovation (TMI), has just announced its Pre-Series A investment in Feedloop startup.

This Pre-Series A funding round was led by TMI and followed by two other venture capital companies, namely East Ventures and Aksara Ventures.

For information, Feedloop is a startup engaged in SaaS (Software as a Service) and has a No Code Development Platform (NCDP) to help the corporate and SME sector accelerate digital transformation through hyperautomation.

“TMI views that the use of the No Code Development Platform (NCDP) platform to create applications, which is carried by Feedloop, will be very helpful for corporations, SMEs to prospective digital-preneurs,” said TMI President Director Marlin R. Siahaan in an official statement received, Monday (2/8/2021).

Telkomsel Venture Capital Unit Leads Pre-Series A Funding at Feedloop

Furthermore, Marlin said, the collaboration between Feedloop and Telkomsel through TMI’s strategic investment will present many innovations as an effort to open wider opportunities for corporations and SMEs to increase their business potential.

Please note, with the No Code Development Platform called Qore developed by Feedloop, users can create their own applications for various needs, such as human resources, warehouse management, customer apps, and other applications without the need for coding skills.

Besides Qore, Feedloop also develops and manages the Customer Data and Experience Platform (CDXP). Meanwhile, CDXP will combine big data customers from various channels which are then managed in modern marketing capabilities.

From there, companies can unify consumer data in a single customer view platform, increase engagement, and analyze consumer behavior in real-time.

This solution has been used by several large companies, such as BRI, Paragon Technology and Innovation, Accenture Indonesia, and GIZ Indonesia. 

Feedloop is also trusted as a national partner for the National 1000 Startup Movement program from the Ministry of Communication and Information.

Feedloop’s Plans with Accepted Investment

This Pre-Series A investment will provide capital for Feedloop to serve more enterprise sectors in the future. 

Later, these funds will be used to encourage technology and product development, recruit human resources, and build distribution networks in Indonesia and Southeast Asia.

“Entering its third year, Feedloop will continue to be committed to being a digital enabler for Indonesian companies to digitize services and better serve their consumers,” said Feedloop CEO and Co-Founder Ahmad Rizqi Meydiarso.

Telkomsel Venture Capital Unit Leads Pre-Series A Funding at Feedloop

As a first step, the collaboration between Telkomsel and Feedloop encourages synergies to unlock wider potential in developing CPXP as a platform for processing various customer data.

Later, the processed products will be used as a reference in marketing, service, and product innovation. This platform is prepared to assist digital transformation in all sectors, including supporting SOE business units.

“We hope that this collaboration will spur the growth of pioneering businesses such as startups with the support of digital talent capabilities of Indonesian children who can become new digital-preneurs in Indonesia, while strengthening Indonesia’s digital ecosystem that is inclusive and sustainable,” said Marlin.

Disburse IDR 580 Billion for Startup Acceleration

To note, venture capital Telkomsel Mitra Innovation (TMI) is committed to accelerating the development of startups in the country and globally through funding support and empowerment.

Unlike other venture capitalists, TMI is supported by Telkomsel’s assets, ecosystem, and various other business lines, focusing on offering synergy value, and long-term partnerships in helping develop the startup business it finances.

Telkomsel Venture Capital Unit Leads Pre-Series A Funding at Feedloop

TMI was founded in 2019 and is a corporate venture capitalist seeking to drive startups by disrupting a large market to enable industry transformation, increase opportunities and narrow business gaps.

President Director of Telkomsel Hendri Mulya Syam said that Telkomsel places TMI as a partner in supporting and accelerating digital-preneurs from potential startup players in Indonesia and the world.

“This commitment is one of the efforts that Telkomsel continues to make to expand its business portfolio while strengthening the national digital economy,” said Hendri.

The President Director of TMI, Marlin R Siahaan, who was recently appointed by Telkomsel, said that he is trying to introduce TMI to local and global startups who want to grow in the Indonesian market.