Aiming At The $150 Billion Market? Tencent Invests In Indonesian E-commerce Startups

Bezos, the founder of American e-commerce giant Amazon, recently participated in a US$87 million Series B financing of Indonesian startup Ula. This is his first investment in the e-commerce field in Southeast Asia.

Ula issued a statement saying that Prosus Ventures, Tencent and B-Capital led this round of financing, and Bezos Expeditions, local private equity fund Northstar Group, Southeast Asia venture capital funds AC Ventures and Citius also participated in the investment.

Ula’s previous financing includes a USD 10.5 million seed round in June 2020 and a USD 20 million A round in January this year.