Indonesian early-stage VC East Ventures has invested in the seed round of marketing SaaS company Feedloop while online automobile marketplace Automo has closed a seed funding round of $145,000 from angel investors.
Saas startup Feedloop secures seed funding from East Ventures
Marketing SaaS company Feedloop has secured an unspecified amount of seed funding round from early-stage investor East Ventures, as announced in a statement.
Founded in late 2018, Feedloop aims to fulfill the needs of modern marketers to cater to Generation Z and millennial audience with highly interactive marketing campaigns such as survey, quizzes, and interactive storytelling.
Within less than six months of operation, the company, which is set up by a co-founder of Indonesian AI firm Kata.ai, has executed pilot projects with multiple brands and digital marketing agencies to test the potential use cases of such technologies.
The deal is the latest by East Ventures in a busy first half of the year, which has seen it invest in almost 10 companies, including Triplogic, Advotics, and Kedai Sayur.
While the firm focuses on the seed to Series A deals, it has a joint growth stage fund, EV Growth, through which it makes follow-on investments in its portfolio companies.
Automo raises $145k seed funding
Online automobile marketplace Automo has closed a seed funding round of $145,000 from angel investors, as reported by e27.
According to the report, participants in the round include an angel from Prestige Corp in Indonesia, owner of Singapore-based Cars and Trips, and another undisclosed investor. The round also includes SGD30,000 Startup SG Founder Grant.
Automo also announced that it has rebranded itself as Otomo in order to reflect a more global long-term vision for the company.
Otomo is an online platform for tourists to find drivers or automotive rental in Indonesia.
In the automotive rental space, the company faces fierce competition from established ride-hailing players like Grab and GOJEK which offer users access to car and motorbike rentals. However, differently to its competitors, Otomo also works with local vendors to provide luxury cars like Rolls Royce and Lamborghini, as well as private jets and yachts.