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Pongo Pockets US$7.71 Million from SMZDM, Lenovo, and Grift

Pongo has secured Series A financing of US$7.71 million from SMZDM, Lenovo Venture Capital, and Grift Ventures.

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Pongo has secured Series A financing of US$7.71 million from SMZDM, Lenovo Venture Capital, and Grift Ventures.

Jakarta, TechnoBusiness ID (English Edition) Pongo Internasional, an Indonesian e-commerce and influencer marketing company from Indonesia, announced that it has received Series A financing worth US$7.71 million.

Also Read: Doctor Anywhere Raises SGD88 Million in Series C Funding

In today’s announcement, Pongo International received the financing from three major investors, namely SMZDM, Lenovo Venture Capital, and Grift Ventures.

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The funding will be used by Pongo International to fund short video and live streaming businesses in the Southeast Asian market, especially Indonesia, which has lucrative potential.

Also Read: Poptron Pockets $120,000 in Funding from Choco Up

Therefore, Pongo Indonesia will recruit people who have great potential to become live streaming actors. They will be educated to earn income in new ways.

“The sale of products through live streaming certainly opens up opportunities for many people to take on new jobs as live streaming actors,” said Nathasya Kristianto, Director of Pongo Indonesia.

In China, the popularity of live streaming e-commerce is soaring fast. In 2019, 37% of consumers made purchases that way. In the world, according to Forbes, the value of its business has reached US$60 billion per year.

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Also Read: Lifepal Bags US$9 Million Series A Funding from ProBatus Capital

On July 7, Pongo International also earned more than 9,835 transactions with a Gross Merchandise Value of US$101,600 in live streaming sales of 7.7.

Live streaming e-commerce is a fast-growing phenomenon because it triggers consumers to buy certain products through sales promotions such as flash sales at more competitive prices.

Also Read: Ninja Xpress Shipments in Semester 1/2021 Increase Over 80%

Nathasya revealed that currently Pongo Indonesia is preparing to launch a training program for live streaming players which will be held in the near future.

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—Vino Darmawan, TechnoBusiness ID Photo: Pongo International

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