Government Encourages Softbank to Invest in Aruna and Ruangguru

Having previously been reported to immediately inject fresh funds for Grab Indonesia and Tokopedia, Softbank will also provide funding for startups edutech Ruangguru and startup agtech Arun.

This news was conveyed by the Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan in the event titled "Indonesianism Summit 2019", as quoted by Tirto. This initiative was pushed by the Indonesian government to Softbank CEO Masayoshi Son during a visit to the Merdeka Palace some time ago.

As known, Ruangguru is an educational startup that is quite popular in Indonesia. Currently they have a variety of services, ranging from guidance, study materials, to online exams.

Ruangguru already have more than 15 million users. At their 5th anniversary event, they shared their plans for an international expansion debut. Previously they also said they would soon announce the acquisition of a new funding round this year. Finally, they received series B funding led by UOB Venture.

While Aruna is a startup that is trying to bring digitalization in the maritime sector. The services are integrated, in the form of digital management, logistics to microfinancing. In 2017, they announced the acquisition of initial funding from UMG Indonesia, including establishing a strategic partnership to expand market share.