Kecilin Secures US$4 Mln to Expand Data Compression Business

By Editorial Team 05/05/2023
startup business
Summary

Software as a service (SaaS) startup Kecilin raised US$4 million in a pre-Series A funding round from Mandiri Capital Indonesia (MCI), Provident Growth, BNI Ventures, and Arkana.

MCI chief investment officer Dennis Pratistha revealed Kecilin's plan to spend the funds to finance new business initiatives and develop products.

According to Dennis, the growing digital economy means that the amount of data stored and transferred by corporations will increase. This condition opens up opportunities in the SaaS industry, especially for data compression developers such as Kecilin.

"Kecilin can become the market leader in this industry, so it can help small or large businesses to reduce bandwidth costs," he said on Thursday.

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