Indonesia, India See Major Investments in Startups and Green Energy
Indonesia and India have seen significant investment in startups and green energy initiatives. Grouu, an Indonesian infant and toddler nutrition startup, received additional funding from Teia Ventures. Meanwhile, Atomicwork, an employee support startup, raised USD 11 million in a seed funding round. In India, Ather Energy, an electric two-wheeler manufacturer, secured investment from Hero MotoCorp for expansion.
Grouu, founded to provide nutritious and safe food for infants and toddlers, has attracted further investment from Teia Ventures. The Indonesian startup aims to improve child health through quality products and education.
Atomicwork, launched in September 2022 by Vijay Rayapati, Kiran Darisi, and Parsuram Vijayasankar, focuses on supporting employees' mental health and well-being. The company raised USD 11 million in its seed round to expand its services.
In the logistics sector, IndoSpace Logistics Parks IV secured USD 150 million in its second round of fundraising, bringing the total to USD 393 million. The funds will support the development and operation of modern logistics facilities across India.
Ather Energy, facing challenges due to Indian government subsidy cuts, has received a boost with Hero MotoCorp's intention to invest up to USD 66.5 million. The investment aligns with India's focus on electrification in the two-wheeler sector and will support Ather Energy's expansion.
These investments reflect the growing interest in various sectors across Asia. Grouu and Atomicwork are set to expand their services, while IndoSpace Logistics Parks IV continues to grow. Ather Energy's partnership with Hero MotoCorp signals a push towards electric two-wheelers in India.
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