East Ventures raises funds, teams up with state agency to produce Covid-19 tests for Indonesia

Illustration of a COVID-19 test kit. ©Shutterstock

East Ventures investee Nusantics has been working with state researchers to produce the prototype; expects mass production of the test kits soon

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Indonesia-based VC East Ventures has secured IDR 7bn via fundraising to finance the development and local mass production of 100,000 Covid-19 test kits for the country. The initiative, called “Indonesia Pasti Bisa” (“Indonesia can do it”), also involves the state Agency for the Assessment and Application of Technology (BPPT). A BPPT task force produced a prototype test kit on April 4. Nusantics, a microbiome skin care startup backed by East Ventures, is also part of the team.East Ventures said IDR 5bn of the funds raised so far had been disbursed to buy the materials for producing 50,000...
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Edited by Bernice Tang

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