VC-backed Gunosy commits $5m to Indonesia's Kurio
Gunosy, a listed Japanese news app backed by VC firms Jafco and B Dash Ventures, has committed IDR67 billion ($5 million) to Kurio, a similar company based in Indonesia.
In a release, Kurio referred to the investment as a Series B round, and said it will use the capital to expand its business in Indonesia and Southeast Asia. The company currently has more than 200 media partners in Indonesia and claims its app has been downloaded 600,000 times; it is working on building relationships in Singapore and Malaysia.
Kurio's Series A in 2004 was led by CyberAgent Ventures, with participation by other angel investors. The company is also supported by Indonesian VC firm GDP Ventures through its Merah Putih Incubator.
Gunosy hopes to take advantage of Kurio's experience as the company plans its own entry into Indonesia and Southeast Asia. Last year marked its entry into South Korea, as it acquired mobile content platform Pikicast.
Founded in 2012, Gunosy raised several funding rounds from Jafco and B Dash, along with Japanese telecom giant KDDI Corp., before going public last year, raising around JPY10.3 billion.
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