Companies Climate Tech Traces Successfully Collect Funding Worth IDR 43 Billion

JAKARTA - Jejalin, a climate tech company from Indonesia, managed to get new funding worth USD 2.7 million (IDR 43.5 billion) from PT ITM Bhinneka Power, along with Indogen Capital, SMDV, and East Ventures.

This funding will be allocated to various main areas, including research and technology development including artificial intelligence (AI) and the Internet of Things (IoT), market growth, and others.

"We believe this funding will push us forward on a mission to improve environmental conditions by accelerating climate mitigation measures using technology," said Arfan Arlanda, CEO & Founder of Tracein in a statement received on Monday, May 13.

Founded in 2018, Tracein comes with a vision to empower businesses and individuals in providing a positive impact on the environment.

Traces offer artificial intelligence (AI) and Internet of Things (IoT)-based solutions that help companies achieve their zero-emission targets to address the challenges of climate change.

Tracein's integrated platform allows companies to calculate emissions from operational activities, making it easier to determine, execute, and report their sustainability plans, including nature-based and carbon projects.

"With the development of progressive technology and a stronger commitment to sustainability, I believe Jekalin will continue to achieve greater success and growth in the future," said Niwat Boonyad, President Director of PT ITM Bhinneka Power.

"As a company that believes that technology can create value that has a positive impact, we believe Tracein is here as the right platform to accelerate climate mitigation in Indonesia," said Avina Sugiarto, Partner of East Ventures.

With this new funding, Tracein aims to accelerate the company's growth, improve the platform's function, and enable more companies and individuals to contribute to climate mitigation actions.