Doku, Kopi Kenangan Deals Signal SEA Startup Momentum

Southeast Asia's fintech and F&B sectors are witnessing significant strategic shifts, with Indonesian payment gateway Doku announcing a substantial deepening of its ties with Ant International. This move sees Doku, rebranded as Doku by Antom, under new leadership with co-founder Himelda Renuat stepping into the CEO role. Corporate filings reveal that a Hong Kong-based holding entity linked to Ant International now commands an effective 72% ownership of Doku's operating arm. This strategic alignment is set to integrate Doku's domestic payment infrastructure, including its QRIS capabilities, with Antom's extensive regional network. The partnership promises enhanced multi-currency processing, streamlined cross-border transactions, and potential avenues for merchant financing, tapping into the growing digital commerce within the region.

In a separate development, the Indonesian coffee chain giant Kopi Kenangan has seen its early backers and co-founder Edward Tirtanata significantly increase their equity holdings through a secondary transaction valued at approximately $70 million. This move involved existing investors, including prominent names like GIC and Peak XV Partners, divesting some of their stakes. The transaction underscores a strong vote of confidence in Kopi Kenangan's trajectory, especially following its reported 45% revenue surge to $184 million in 2025, achieving its first annual profit of $17 million. With a network of 1,324 stores across six countries, the company is reportedly planning further expansion, eyeing over 500 new outlets in 2026, while its potential initial public offering remains on the horizon.

The Indonesian digital infrastructure sector is also seeing robust development, with BDx Data Centers commencing construction on its CGK4 facility in Jatiluhur. This project is supported by a substantial 845MVA grid capacity from PLN, part of a larger 1.2GVA commitment across its Indonesian AI campuses. The initial phase, slated for early 2027, will deliver 120MW of IT capacity, featuring advanced direct-to-chip liquid cooling for high-density racks. This development, backed by a $320 million loan facility, is designed to cater to hyperscalers, AI cloud providers, and enterprise clients, with a focus on sustainable energy solutions.

Further expanding its international footprint, Indonesian digital identity and signature provider Privy is enhancing its Australian operations. Beyond electronic signatures, Privy is introducing a comprehensive three-layer digital trust platform encompassing identity verification, document and action authentication, and electronic registered delivery services. This expansion is timely, supporting the increasing volume of cross-border transactions between Indonesia and Australia, which saw trade reach $8.92 billion in the first seven months of 2026. Australian firms such as Seek and Woolworths are already leveraging Privy's existing services.

On a broader regional funding note, Southeast Asia's startup ecosystem demonstrated a notable rebound in the first half of 2026. Startups collectively secured $7.25 billion across 217 equity deals, marking the strongest performance since early 2022. A significant portion of this capital, 62%, was attributed to a massive $4.5 billion raise by DayOne Data Centers, a Singapore-based entity spun out of China's GDS Holdings. Excluding this outlier, the region still saw a healthy 48% increase in funding, though the number of deals declined, indicating a trend towards larger, more concentrated funding rounds. Singapore-based companies dominated this funding surge, capturing 92% of the total capital.

In other regional news, Lightspeed Venture Partners is actively raising its fifth India and Southeast Asia-focused fund, targeting $250 million for early-stage investments in AI startups. This initiative reflects a growing conviction in the transformative potential of artificial intelligence across these markets. Meanwhile, Grab executives, including CEO Anthony Tan and President Alex Hungate, have demonstrated strong conviction by acquiring over $30 million in company shares following a period of stock decline, signaling confidence in Grab's strategic direction despite recent market fluctuations and its significant acquisition of Atome Financial.