Roambee, a US-based IoT startup announces that it has received a Series B1 investment from TMI, the venture capital arm of Indonesian network provider Telkomsel, joined by fellow CVC MDI Ventures.
The investment, as reported by DealStreetAsia, was made out of the US$40-million joint fund the two firms share with Singtel Innov8.
Telkom Indonesia is the parent company of MDI and Singtel Innov8, and Telkom Indonesia and Singtel are the stakeholders in Telkomsel.
The fund was launched in May 2019, and followed by the announcement of investment made by TMI in Indonesian digital credit card company Kredivo two months later.
Roambee is a portfolio company of MDI Ventures. The VC firm invested US$2 million into the company in June 2018 to facilitate its expansion into Indonesia and other Southeast Asia markets.
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Roambee was founded in 2013 with a focus on enabling IoT-based smart logistics and asset monitoring solutions to help its customers to implement advanced digital supply chain in their companies to increase business performance.
Roambee accounts companies including T-Mobile, Huawei, Oracle, and Accenture among its portfolios.
Roambee is headquartered in Santa Clara, California, US and has representative offices in Mexico, Brazil, Germany, South Africa, United Arab Emirates, India, and Malaysia.
“Collaboration with Telkomsel allows Roambee to capitalise on Telkomsel’s reach, their future proof telecom infrastructure, and their enterprise sales network to offer an on-demand monitoring solution to Indonesian and Asian enterprises,” said Roambee CEO Sanjay Sharma.
Telkomsel has been developing and expanding the Narrow Band – Internet of Things (NB-IoT) technology which synergise with Roambee’s core of business.
Also Read: Indonesia’s MDI Ventures on their investment strategies for foreign startups
Telkomsel’s IoT seeks to support Telkomsel’s enterprise customers as well as the realisation of Industry 4.0.
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Picture Credit: MDI Ventures
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