Binance, the world’s leading blockchain and cryptocurrency infrastructure provider has established a joint venture with a consortium led by MDI Ventures (MDI) to expand the blockchain ecosystem in Indonesia with the development of a new Indonesian-based digital asset exchange.

MDI is a US$830+ million multi-stage venture capital arm of Indonesia’s largest telecoms company, Telkom Indonesia.

Binance will provide world-class asset management infrastructure and technology to support the development of the new exchange platform.

The consortium has collectively developed the biggest digital and financial technology ecosystems in Indonesia, and have access to more than 170 million consumers in the world’s fourth most populous country.

Changpeng “CZ” Zhao, Founder and CEO of Binance , said: “Our ambition at Binance is to grow the blockchain and cryptocurrency ecosystem globally, and this initiative in Indonesia is a significant step in that direction. With fast technology adoption and strong economic potential, Indonesia could become one of the leading centers of the blockchain and crypto ecosystem in Southeast Asia. We are thrilled to name MDI as our latest partner in the region. With their depth of experience in the market, we are confident that we will deliver leading products for users locally.”

Donald Wihardja, CEO of MDI, said: “Cryptocurrencies, crypto assets, and the underlying technology, blockchain, present an undeniably important part of the financial and other digital infrastructures in the future. MDI, as Telkom’s technology investment arm and technology scout, are very excited to participate in this journey. We look forward to growing with Binance and our investment partners, and bridging the opportunities and technologies to Telkom to help upgrade Indonesia’s capabilities in this digital infrastructure.”

The joint venture is part of Binance’s broader strategy to grow the global blockchain ecosystem. The news follows the recent announcements on Binance’s 100M EUR initiative to support the development of the French and European blockchain ecosystem, as well as Binance Asia Services’ investment in Singapore-based Hg Exchange (HGX).


Alodokter Raises Fresh Capital from MDI Ventures and Samsung Ventures to Grow Ecosystem


Alodokter, the No.1 digital health platform in Indonesia, has raised additional funding from MDI Ventures, a subsidiary of Telkom group and Samsung Ventures Investment Corporation (Samsung Ventures). MDI Ventures’ ongoing support to Alodokter is a testament of their confidence in Alodokter’s tremendous business growth prospects as well as shared mission to improve public health services in Indonesia. Alodokter has successfully raised significant funding since 2019, from investors such as Softbank Ventures, Sequis, Golden Gate Ventures, Philips, Heritas and Hera Capital. Alodokter will use the funding to continually expand and digitize the healthcare ecosystem as well as develop new products for Alodokter’s platform.

Through its subsidiaries, Telkom Group has a mission to support innovation and continues to be committed in providing solutions to millions of people in Indonesia. MDI has invested in more than 50 startups in Indonesia and globally with a focus on investing in the fields of Healthtech, Fintech, Agritech, Logistics, New Retail and Deep tech.

Donald Wihardja, CEO MDI Ventures said, “Alodokter has a proven track record of growing their comprehensive healthcare solution. All the innovations, from telemedicine to insurance, have been developed to cater to Indonesia’s needs for accessible and affordable healthcare services. The funding from MDI will further extend the growth of health services through the potential collaboration with several BUMN entities in Indonesia.”

“With the increasing demand for the use of health services, this follow-on funding aligns Telkom’s mission to increase innovative products within the SOE environment and continues to be committed to providing solutions to millions of people in Indonesia,” explained Director of Enterprise & Business Service Telkom Group, Edi Witjara.

Samsung Ventures mostly invests in startups and companies with new and innovative technologies in the fields of telecommunication, software, internet, bio engineering and healthcare industry around the globe. Samsung Ventures believes in the potential of Alodokter end-to-end ecosystem and strongly believes that it will continue to grow to become the most innovative digital health platform in Indonesia.

This funding goes a long way in fulfilling Alodokter’s mission to develop an integrated digital-based healthcare in Indonesia. The Alodokter platform is currently connected to more than 43,000 doctors and 1,500 hospitals & clinics with millions of patients in Indonesia. Through its platform, Alodokter provides all-encompassing digital health services that include reliable health content, access to general practitioners and specialists (telemedicine), online booking of doctor’s appointments at hospitals, medicine purchase through e-pharmacy and affordable insurance packages.

CEO & Founder Alodokter, Nathanael Faibis, explained, “The investment from MDI Ventures and Samsung Ventures will be directed to further improve Alodokter’s ecosystem. We thank our existing investor MDI Ventures for their trust and welcome Samsung Ventures to take part in our journey. Key focus areas going forward include technology innovation, increasing the talent pool, and adding new features and functionalities. The expansion we carried out is always focused on providing fast, accurate, and reliable consumer experience on the Alodokter platform. By integrating our ecosystem with additional state-owned enterprises, we expect to provide tech-enabled healthcare access to more Indonesian patients.”

“The pandemic has boosted the acceptance of telemedicine services for both patients and healthcare providers. We believe that enabling better healthcare through technology has become more critical than ever. Alodokter stays true to its original mission of democratizing healthcare access for Indonesian families, hence we are grateful to have strong support from investors like MDI Ventures and Samsung Ventures in the current fast-growing phase of Alodokter,” added Suci Arumsari, President Director & Co-founder Alodokter.