PT Telkomsel Mitra Inovasi (TMI), an investment arm of telco provider Telkom Indonesia (TLKM), has invested nearly US$2 million in PrivyID, as part of Series A round. Recently, the local venture capital get fresh funding of US$40 million from its parent company to expand the company businesses.
The investment has been carried out through MDI Ventures, the corporate venture capital initiative of Telkom Indonesia, said Kenneth Li, head of investor relations at MDI Ventures. According to him, e-signature market already grown fast in recent year and will obviously getting bigger.
He noted, several other player already tap in to the market, validating this market has big potential. In addition, communication and information ministry through 2008′ Electronic Transaction and Information law stated that the government backing e-signature platform businesses.
