Creative Economy Minister pushes Indonesian-made technology innovation to break into global markets
Jakarta (ANTARA) - Minister of Creative Economy Teuku Riefky Harsya is encouraging Indonesian technology companies to continue producing innovations capable of meeting industry needs and creating added value that can break into global markets.
Teuku Riefky Harsya, who also serves as Head of the Creative Economy Agency, views McEasy’s development as a positive example of an Indonesian technology company with innovations that strengthen the mobility, transport, and logistics ecosystem.
“Indonesia has the talent, the market, and industry needs that can serve as room for technological innovation to grow, as demonstrated by McEasy. The challenge is ensuring that such innovation is continually developed into products with added value that can be commercialised and, ultimately, compete in the global market,” Riefky said in a statement received in Jakarta on Tuesday.
Over the company’s journey since 2017, McEasy successfully secured Series B funding worth US$9 million from Integra Partners, a Singapore-based venture capital firm, along with growth debt facilities from InnoVen Capital, after previously obtaining Seed and Series A funding from East Ventures and Granite Asia.
Its technological innovations are used by around 2,000 companies, with its system recording roughly 350 million kilometres of vehicle travel each month.
McEasy Co-Founder and CEO Raymond Sutjiono said the Series B funding is an important step to accelerate the development of the company’s analytics and artificial intelligence technology, while also serving as capital to expand its business into the Southeast Asian market.
“This funding enables us to move from merely recording to being able to predict, transforming nine years of vehicle data into AI models that help fleet operators know what will happen next, not just what has already happened,” Raymond said.
Riefky said the achievement shows that Indonesian technology companies have the capacity to build products that answer industry needs while also earning the trust of markets and investors.
The Minister added that the Ministry of Creative Economy is committed to playing a supporting facilitative role to help technology startups strengthen their journey from innovation to commercialisation, so they can grow into sustainable products and businesses.
This is so that innovations born in Indonesia do not stop at the prototype stage, but are developed, protected, commercialised, and expanded into larger markets.