JULYASIA BUSINESS OUTLOOK9Baskit, a firm dedicated to digitising and developing distribution enterprises inside Indonesia's supply chains, has raised $3.3 million in seed funding. The latest round of funding comes only three months after the company raised $1.5 million in a Pre-Seed round.Betatron Venture Group, Forge Ventures, Investible, 1982 Ventures, DS/X Ventures, Orvel Ventures, and Michael Sampoerna were among the regional and local investors who participated in the newest round. Baskit's ambitious expansion plans, technological stack development, and entry into new supply chain verticals will benefit from the funding.Baskit has enjoyed significant growth since its commercial debut in November 2022, with a stunning monthly revenue growth rate of more than 70 percent. The company credits its rapid growth to the urgent need to expand distribution and wholesale operations, which was exacerbated by the Covid-19 outbreak. Baskit's technology strives to bridge the growing gap between digital awareness and accessibility, a major difficulty for distribution organisations in the face of falling profit margins, inflation-induced complications, and declining sales in a variety of industries. Pertamina, Indonesia's national energy provider, announced late Monday that it planned to collaborate with Electrum to create battery packs for electric motorcycles, with the goal of putting millions of electric two-wheelers on the Southeast Asian country's highways.The agreement was inked on Friday at the groundbreaking ceremony for Electrum's electric scooter plant, where the company, a joint venture between coal miner TBS Energi Utama and global tech conglomerate GoTo Gojek Tokopedia, plans to build 250,000 electric scooters each year.According to Pertamina spokesman Dicky Septriadi, the projected battery packing factory run by Pertamina's renewables unit and Electrum could have a capacity of around 300 megawatts.Indonesia has the world's largest reserves of nickel - a key element in electric vehicle (EV) batteries - and is keen to utilise the mineral to create a full supply chain for the industry. INDONESIAN ENTERPRISE BASKIT RAISES $3.3 MILLION IN SEED FUNDINGPERTAMINA JOINS HANDS WITH ELECTRUM TO MANUFACTURE EV BATTERY PACKSNEWSROOM
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