Emtek Embraces Sinarmas, Grab, and Pieter Tanuri as Vidio Investors

Summary

Vidio, a local over-the-top (OTT) platform owned by PT Surya Citra Media Tbk (SCMA), raised US$45 million in a funding round from strategic partners, led by Sinarmas Group's PT Dian Swastatika Sentosa Tbk (DSSA) through its subsidiary PT DSST Mas Gemilang. Several leading companies have become investors, including Grab Holdings Limited subsidiary Grab LA Pte Ltd (Grab) and PT Ekonomi Baru Investasi Teknologi (EBIT), a subsidiary of the Bali United football club.

DSSA Director Daniel Cahya said that this collaboration is intended to develop a mutually beneficial service offering between Vidio and its investor partners. "The Emtek Group can also take advantage of strategic partnerships with DSST, Grab, and EBIT to keep driving Vidio's growth and strengthen its position as the leading OTT in Indonesia," Daniel said in a written statement Tuesday.

He said this investment is the starting point for sustainable collaboration between Sinarmas and Emtek. "We believe this collaboration is a positive start for the Sinarmas Group, including Smartfren [cellular data], MyRepublic [FTTH], and other DSST digital investments, with Vidio as the content provider," Daniel said.

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