Online media platform focusing on economic and business research, Katadata, announced the acquisition of fresh funding led by East Ventures. The previous investors, Emerging Media Opportunity Fund (EMOF) and Lin Che Wei were also involved in this round. The value is still undisclosed.
The fund will be used for product development and machine learning-based data management system. Metta Dharmasaputra, Katadata’s Co-founder & CEO, said the funding is part of their further step to develop business as a data-based media.
“With the support of the to-be-developed data system, it’s expected to result in an in-depth data-based news and analysis which capable to help business players, government, and other stakeholders. As planned, the new data-based product will be launched by the end of the year,” he said.
Founded in 2012, Katadata is known as a news portal that mostly provides infographic and video content. All packed in two brand sites, katadata.co.id and databoks.co.id.
“By combining traditional journalistic principles with technology-based distribution methods, we can achieve a better future. East ventures has high hopes that Katadata can be a role model for the long-form news media in Indonesia,” Willson Cuaca, East Ventures’ Managing Partner, said.
Moreover, Lin Che Wei, Katadata’s angel investor said that this third round is believed to accelerate the digitization process, artificial intelligence technology development, and big data.
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Original article is in Indonesian, translated by Kristin Siagian
