Teja Ventures Provides Funding to Binar Academy; Immediately Book Second Managed Fund

Binar Academy, platform edutech developed by Alamanda Shantika has completed the initial phase of funding from venture capital based in Singapore, Teja Ventures. It was not stated further how much investment was given to Binar Academy.

To DailySocial, Teja Ventures partner David Soukhasing said that the choice of Binar Academy to be included in their portfolio is a strong trust and confidence in the founders of the company who have had track record which is quite positive.

"Binar Academy has also had a fairly good number of clients, ranging from the middle to the upper class. Besides that, it also has the potential to scale-up and provide a good solution quickly and has a pretty solid foundation," said David.

Founded in 2017, Binar Academy is currently present in around 33 cities in Indonesia. Earlier this month they also released an application that can now be downloaded on the App Store and Play Store. Binar Academy's focus since the beginning has been to be able to produce new digital talents who are able to master programming languages ​​through the platform.

In addition to education, Binar Academy also distributes several talents that are relevant to the needs of companies to startups to join them as employees.

In addition to Binar, there are several other startups that provide concept education service "bootcamp". One of them is Hacktiv8, they also provide a lot of education about programming, including distributing their graduates to partner companies. The other players are Skillvul, which is also correlated with the Impact Byte program.

Teja Ventures Plan

Previously, David was known as the Managing Director of ANGIN (Angel Investment Network Indonesia). Then together with his relationship Virginia Tan, who is also a client of ANGIN, founded Teja Ventures since 2019. They also have more concentration on supporting female business founders.

"Teja Ventures is a client of ANGIN (as we have 120 other clients including ADB, TINC, Moonshot Ventures) and is also connected to me because I am one of the four businesses, which includes Indonesia," said David.

After providing funding to Binar Academy, Teja Ventures' next plan is to continue to invest in startups that have good potential. Starting from beautytech, supply chain leaders SMEs, wellness, and others. Teja Ventures also continues to strive to support their portfolio companies in Indonesia such as Duithape, Burgreens, Green Butcher, Shox/Home, and Cycle.

"In the future, Teja Ventures is also preparing to raise funds for the second fund management and continue to maintain the momentum of both LP and deal-flow, said David.