FunP Innovation Group, a Taiwan-based digital advertising sales and advertising technology conglomerate, has reportedly secured US$3.12 million in additional investments to fuel a smart retail and cloud drive into the Indonesian market.
The company received the support of Ennoconn Corporation, a global leader in integrated cloud management services, industrial internet of things (IIoT) and embedded technology, in the funding round.
FunP Innovation Group (BVI) controls cacaFly, a leading digital advertising sales consulting agency, and Tenmax.io, an advertising technology development. Both have spearheaded earlier initiatives in Indonesia, including a joint venture to form a data-driven digital marketing agency for Indonesia, a partnership with Google Cloud to launch a Cloud AI+ Solution Centre in Taiwan and a partnership to develop a one-stop digital advertising solution.
FunP has said that it will use the extra capital injection to develop and roll out smart retail and cloud services solutions for the Indonesian market and other Asia Pacific countries, under its cacaFly business unit and in a partnership with Ennoconn.
Quoted in a number of local reports Brian Yang, funP group Co-founder, and Chief Strategy Officer, says: “Ennoconn’s capabilities in AIoT, together with our own in cloud computing and marketing technology, equals the opportunity to develop pioneering retail solutions for Indonesia and beyond.”
There is a wider context to this announcement, however. Indonesia’s President Joko Widodo has expressed his intention to focus on the digital transformation of the economy through investments in technology like cloud computing and 5G, along with a green city that will harness smart technologies, renewable energy, and IoT. CacaFly, in collaboration with Ennoconn, has committed to help in these initiatives.