PT Ilectra Motor Group announced that it expects to receive IDR 220 billion in funding from PT. Indika Energy Tbk, Alpha JWC Ventures, Horizons Ventures Limited
PT Ilectra Motor Group announced that it has entered into a loan agreement with new investors Alpha JWC Ventures, Horizons Ventures Limited for $7,500,000 (IDR 110,000,000,000) and aggregate gross proceeds of IDR 220,000,000,000 ($15,000,000) in a round of funding on May 19, 2022. The transaction will include participation from returning investor PT. Indika Energy Tbk for $7,500,000 (IDR 110,000,000,000).
On the same date, the company received $7,500,000 (IDR 110,000,000,000) in its first tranche from Alpha JWC Ventures and Horizons Ventures Limited.