Grab announced yesterday that it has partnered with Indonesia-based Warung Pintar, a micro retail technology startup company, connected by ASEAN Impact Challenge partnership, in a bid to empower grassroots community in Indonesia to migrate to the digital economy.
ASEAN Impact Challenge (AIC) is a regional platform specified to discover innovators and entrepreneurs from Southeast Asia. It follows the mission of United Nations Sustainable Development Goals (SDGs). In collaboration with Grab, AIC created the inaugural GrabImpact Award in 2018 that supports Southeast Asia’s innovators to help them scale technologies to solve the challenge of mobility, O2O and payments in the region. Warung Pintar defeated around 500 other participants in November last year, winning that award and US$10,000 worth of Grab services for a year. The startup has also been brought into the Grab Ventures Velocity accelerator.
This is one of the developments of Grab Ventures’ dedicated US$250 million fund for Indonesian tech startups looking to scale business across the region.
Grab Ventures Velocity is a scale-up programme, bringing both public and private sector partner to provide startup partners with regional market access, mentorship, a proof of concept leveraging Grab Platform and where suitable, strategic investments.
Warung Pintar recently raised a US$27.5 million financing round.