tokopedia_funding_news

Tokopedia CEO and Co-Founder William Tanuwijaya

Indonesian e-commerce giant Tokopedia is set to build an e-commerce research and innovation centre which results will benefit the country’s e-commerce sector in general, not just the startup.

Tokopedia CEO and Co-Founder William Tanuwijaya told Dealstreet Asia that he hoped the innovation centre “can support various research related to e-commerce and be a place where entrepreneurs, government and people can take advantage of the findings, as well as push for the progress of various industries in Indonesia, not just e-commerce.”

He declined to share further details on the innovation centre investment plan.

The centre will be located in Indonesia, though Tanuwijaya also did not name any specific city yet.

Also Read: We regret not investing in Tokopedia despite getting a chance, says Fenox CEO Anis Uzzaman

Tokopedia made headlines last year for securing US$1.1 billion funding round led by Chinese e-commerce giant Alibaba.

Southeast Asian e-commerce company Lazada, which had also received investments from Alibaba, had opened its own research and innovation centre Lazada Tech Hub in Thailand in 2016.

In Indonesia, Tokopedia’s direct competitor Bukalapak had also announced plan to open its own research and development (R&D) centre in Bandung in January. The centre will focus on research on subjects such as machine learning and drone delivery, and is expected to open in mid-2018.

Image Credit: Tokopedia