Tokopedia raises $1.1b from SoftBank, Alibaba to evolve into infrastructure-as-a-service
Tokopedia has secured US$1.1 billion in its latest funding round, the company announced today. The deal turns the Indonesian ecommerce unicorn into the most valuable startup in the country, valued at about US$7 billion. The funding is led by SoftBank Vision Fund and existing investor Alibaba Group, with participation from SoftBank Ventures Korea and others. Tokopedia also raised the same amount of funding last year in an Alibaba-led round. According to co-founder and CEO William Tanuwijaya, Tokopedia is evolving its ecosystem to infrastructure-as-a-service, providing logistics, fulfillment, payments, and financial services technologies to empower online and offline commerce. “This will broaden…