BERITA SUBANG - Telkomsel Mitra Inovasi (TMI), a venture capital unit of Telkomsel, leads Pre-Series A investment in Feedloop, a startup specialized in SaaS (Software as a Service) which has a No Code Development Platform (NCDP).
Telkomsel claimed in its statement on Thursday, July 30, 2021, its strategic investment in Feedloop is part of its efforts to move forward in opening up opportunities to empower digitalpreneurs, especially startups that have the potential to grow in Indonesia.
The round funds of Pre-Series A investment were lead by TMI with the largest portion and followed by two other venture capital companies, East Ventures and Aksara Ventures.
Feedloop provides a modern business platform to help enterprises and SMEs accelerate their digital transformations across various business process through hyperautomation.
"TMI believes that the utilization of the NCDP enabled by Feedloop will greatly help enterprises, SMEs, and aspiring digital preneurs," said CEO of TMI, Marlin R. Siahaan.
"It is projected that in the next few years, the solutions created from this service will be widely adopted by application developers or other businesses to be able to build an effective and efficient platform, so that they will be able to create more customer-centric solutions, especially in the era of 5G."
Martin said Telkomsel Mitra Inovasi expects that through this strategic investment, "there will be more collaborative innovations with Feedloop that we are ready to roll out, as part of our effort to open wider opportunities for enterprises and SMEs (small and medium enterprises) to increase their business potential."
What is Feedloop?
Feedloop is a startup focusing on developing and managing No Code Development Platform (NCDP) called Qore, which allows users to create their own applications for various needs such as human resources, warehouse management, customer apps, and other operational needs which do not require skills in understanding programming languages or coding.
Besides Qore, Feedloop develops and manages a Customer Data and Experience Platform (CDXP), which combines Customer Big Data Insight from various channels to be managed by modern marketing capabilities to ensure enterprises can merge customer data insights into a single customer view platform, increase engagement, and analyze consumer behaviour in real-time.
Feedloop enabled solutions have been used by large-scale companies such as BRI Bank, Paragon Technology and Innovation, Accenture Indonesia, and GIZ Indonesia to accelerate their business transformation.
Feedloop has also been trusted as a national partner by the Ministry of Communication and Information Technology of the Republic of Indonesia in a movement to grow more startups called ‘Gerakan Nasional 1000 Startup Digital’. In this movement, Feedloop has provided a platform to help startup founders build ready-to-use applications within a month.
This Pre-Series A investment will allow Feedloop to have a resource to serve more enterprises in the coming years.
Telkomsel said in its Friday's statement that Feedloop plans to use the funds to drive the development of products and technologies, recruit human resources, and build a distribution network for marketing platforms in Indonesia and Southeast Asia.
"Stepping into the third year of operation, Feedloop will continue our commitment to be a digital enabler for Indonesian companies to digitize their services and serve their consumers better. Furthermore, we also try to help SMEs in Indonesia to be able to participate in digital transformation to advance their businesses," said CEO and Co-Founder of Feedloop, Ahmad Rizqi Meydiarso.
"The investment from TMI will help us to accelerate the realization of our big mission to be able to create an equal distribution of digital transformation across Indonesia."
As an initial breakthrough, Telkomsel and Feedloop have encouraged the synergy value to collaborate in the developing Customer Data and Experience Platform, a platform that is created to collect and process various customer data that can be used as a reference for marketing, customer service, and product innovations. The platform has been designed to help all sectors to adopt digital transformations, including state-owned enterprises or known as BUMN.
This collaborative action also encourages Telkomsel's plan to develop Feedloop's NCDP platform further, so that users can launch their own applications in a few days. This platform is expected to be easier to use for them to accelerate digital transformation across SMEs and enterprise sectors.
"We hope that this collaboration will drive more Indonesian startups to grow, so that it can support the development of more dedicated talent and digital preneurs in Indonesia, as well as strengthening Indonesia’s digital ecosystem to be more inclusive and sustainable. This step is part of Telkomsel’s commitment as a digital connectivity, digital platform and digital service provider in all walks of life with the spirit of leading digital technology,” Marlin said.
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