As investors turn cautious in lending to startups, growth-stage tech companies in Indonesia are looking at alternative financing options such as convertible notes, venture debt, or pure debt to raise funds this year.
While logistics company Kargo is closing around $15 million in a bridge round from existing investors, according to sources aware of the development, DealStreetAsia reported in August that agritech firm EdenFarm is closing its pre-Series B round at around $13 million via SAFE (simple agreement for future equity) notes.