Singapore-headquartered ride hailing service Grab has teamed up with BRI Ventures, the venture capital arm of Indonesian state-owned financial services firm BRI, to form an accelerator partnership, Tech in Asia has reported.
Grab Ventures Velocity (GVV) Batch 4 x Sembrani Wira will back startups based in Indonesia at the post-seed round stage that are working on innovative products and services for retailers and micro-enterprises.
GVV was formed in 2018 alongside sister unit Grab Ventures and has some 20 alumni companies from across Southeast Asia, such as online fruit and vegetable retailer Sayurbox, agricultural technology developer Tanihub and online insurance service Qoala.
Sembrani Wira is an accelerator formed by BRI Ventures in March this year, targeting digitalisation-focused companies located in its home country. Its first cohort had eight participants including salary advance service GajiGesa, logistics marketplace Biteship and CookLab, which provides personalised cooking plans.
GVV Batch 4 x Sembrani Wira’s participants will have access to Grab and BRI’s network and mentoring meetings with industry experts, with the possibility of forming partnerships with Grab, and will receive funding from BRI Ventures.
