Indonesian digital health startup Fita has raised funding while the Asian Development Bank has approved a $107-million financing for Vietnam-based BIM Wind Power Joint Stock Company.
Indonesian health platform Fita bags $1.9m
Indonesian digital health startup Fita has raised 30 billion rupiah ($1.9 million) from Indico, a subsidiary of Telkomsel Ekosistem Digital, according to a press release.
Fita will utilise the fresh funding to further develop its products and services. The startup plans to add features such as gym memberships and exercise classes.
The firm is expanding the scope of online purchases such as wearables, supplements, and vitamins, as well as recommendations for the right insurance package for users.
Launched in 2021, Fita focuses on preventive health with a vision to become an integrated health platform in Indonesia. The startup operates two platforms; Fita user app and CATCH (Coach at the Center of Health), a platform for professional coaches to develop comprehensive programs for users.
Fita’s apps have been downloaded by over 2.5 million subscribers. It has more than 200 certified coaches, 800 health content and exercises, and 200 healthy food recipes.
ADB okays $107m loan for Vietnamese wind power company
The Asian Development Bank (ADB) has approved a $107-million financing for Vietnam-based BIM Wind Power Joint Stock Company to support the operation of the 88MW wind farm in southern Vietnam.
ADB acted as the lead arranger and bookrunner, providing $25 million from its ordinary capital resources, while the package also includes $25 million from Japan International Cooperation Agency, $13 million from Hong Kong Mortgage Corporation Limited, $17 million from Sumitomo Mitsui Banking Corporation, $18 million from ING Bank, and $9 million from Cathay United Bank.
ADB will also administer an additional $5-million grant from the Goldman Sachs and Bloomberg Philanthropies-backed Climate Innovation and Development Fund to help de-risk the investment.
BIM Wind is jointly owned by the Philippine conglomerate Ayala Corporation’s unit, ACEN Corporation, and Vietnam-based property developer BIM Group.