Recently, Indonesia-based BINAR secured an undisclosed funding round from international strategic investors, including Blue7, JN Capital & Growth Advisory, Scala Group, DGS, MD Capital, and NBA star Jeremy Lin.

The participation of these international investors from Singapore, Japan, and the US will push the company’s network, expertise, technology, and business prowess to a higher level as it expands further in the highly promising Indonesian market.

“We plan to use the funding to reorganise the company to reach profitability by innovating new services and products,” says BINAR Co-Founder and CEO Alamanda Shantika in an email interview with e27, stressing that this year, the company plans to focus on innovating in new services and products.

Founded in 2017, BINAR is an edutech company that provides digital skills training through experiential, flipped, project/problem-based and collaborative learning methods. It also teaches students relevant soft skills such as social awareness, critical thinking, creative thinking, leveraging diversity, and collaboration which are increasingly sought after in the tech industry today.

It also included other programmes and services such as bootcamp, digital talent accelerators, digital transformation accelerators for businesses, and talent placement.

Also Read: Singapore Budget 2024: For startups, talents and funding remain key challenges this year

By 2022, BINAR says it has trained more than 130,000 students and involved more than 850 facilitators. Through its BINAR Job Connect service, by 2023, the company says that it has worked with more than 120 employer partners.

In considering the impact that BINAR has made in the lives of tech talents in Indonesia, Shantika points out that despite the high demand, Indonesian tech talents tend to have lower salaries than their Southeast Asian counterparts.

“This is why BINAR aims to improve the standard of Indonesian tech talents by continuously developing world-class curriculum and learning methods. We also perform link-and-match services to companies in Indonesia, Singapore, and the US looking for tech talents. This allows talents to work remotely with sufficient capabilities. This aligns with our goals to turn Indonesia into a global tech talent hub,” she says.

From Jeremy Lin to Indonesian tech talents

One of the highlights of this funding round is the involvement of NBA star Jeremy Lin, known for his performance at leading basketball teams such as the New York Knicks, Houston Rockets, LA Lakers, and Toronto Raptors.

He invested in BINAR through JLIN Capital Studio, an investment entity focusing on impact investing in Asia and the US. The firm invests in Southeast Asia’s education, financial services, housing, and agricultural sectors.

Also Read: Future-proofing businesses and talent through technology

Commenting on his involvement in the funding round, Lin shares his vision about equal opportunities. “I believe that empowerment can be achieved through collaborative efforts,” he says. “Everybody deserves the same opportunity to succeed, and I wish to provide more opportunities for Indonesians to build a career in the digital sector.”

BINAR’s connection with Lin began when JLIN Capital Studio Managing Director Robert Kim contacted co-founder Dita Aisyah. The firm recognises the shared vision that the two organisations have.

“Apart from investing in the company, Lin also plays the role of an inspiration for tech talents in Indonesia due to his success in international sports. His story is evidence that one’s background should not prevent one from achieving success; this aligns with BINAR students’ journey in establishing success by working in global tech companies and improving their livelihood. We are making this effort to work with Indonesia’s demographic bonus, improving our employability level, strengthening our identity and positions in the global community,” Shantika says.

—

Image Credit: Binar

The post Following investment from NBA star Jeremy Lin, BINAR aims to reach profitability through new innovations appeared first on e27.