IN FOCUS
Hello Demo,
News that Ajaib raised US$270 million from SBI Holdings in late August came as a breath of fresh air for Indonesia. Amid all the negativity around the country’s tech industry, this development was much needed.
What’s more, the fintech firm secured the funding at a higher valuation than its 2021 fundraise, making it stand out from the many other Indonesian startups raising down rounds.
In today’s first Top Story, I look at how Ajaib broke the mold. What made SBI willing to pay a premium for the investment platform?
Several investors we spoke with argue that SBI sees future potential in Ajaib’s digital asset and tokenization businesses. Both spaces are considered largely untapped in Indonesia, with local regulations still being developed.
Meanwhile, we’ve been putting more focus on the earnings of AI startups in the region. Today’s second Top Story spotlights Wiz.AI, which doubled its revenue year on year to US$23.5 million in 2025.
Co-founder and CEO Jianfeng Lu tells Tech in Asia that the voice AI company lost focus in 2024. The year after, it course-corrected by prioritizing projects with clear ROI.
Jofie Yordan, journalist
TOP STORIES
1️⃣ Why SBI paid a premium for Ajaib amid a tough market
 Photo credit: Ajaib Ajaib’s deal stands out not just for its size, but for the questions it raises about how private-market valuations are being set. The numbers suggest its current business alone may not fully explain the price SBI agreed to pay.
The deal points to the value SBI may place on Ajaib’s licenses, customer base, and ability to build new financial products. The fintech firm’s next test will be turning those advantages into new sources of growth to support the valuation.
2️⃣ Voice AI startup Wiz.AI roars to US$3.9m profit in 2025
Wiz.AI’s revenue growth and move into profitability came after it narrowed its focus to AI projects with clearer returns and recurring demand. Its customer base – banks, telcos, and ecommerce companies – offers a window into where voice AI is already delivering commercial value in Southeast Asia.
At the same time, the startup faces much larger rivals in global AI giants and well-funded voice AI companies. Wiz.AI’s regional language expertise, enterprise relationships, and pricing could determine how much it can defend its niche.
FROM OUR ARCHIVES
BDx reaches 1.2 GW deal to power its data centers in Indonesia
 Photo credit: BDx In June, BDx secured 1.2 gigawatts of power capacity from Indonesian state utility firm PLN. It’s the largest allocation held by a single data center operator in the country.
Part of that capacity was earmarked for BDx’s CGK4 campus in West Java, which is designed to support up to 650 megawatts for AI and cloud workloads.
But construction of the campus, which broke ground on September 22, has been temporarily halted. The local government suspended the project over permit issues amid growing public concern about how data centers affect the environment. Authorities will conduct an environmental impact assessment before construction can resume.
The development highlights a growing tension in Indonesia’s data center push: operators are securing huge amounts of power for AI infrastructure while environmental scrutiny of such projects is intensifying.
TRENDING NEWS
1️⃣ Indonesia pauses BDx AI data center project over permits
The Purwakarta government said BDx must complete its environmental impact assessment before construction resumes on its data center in Jatiluhur. The facility’s expected water use is also being assessed.
2️⃣ Singapore healthcare startup Zeya Health acquires ConnectLah
Following the acquisition, Zeya Health will integrate ConnectLah’s clinic automation technology into its platform.. The company aims to expand its client base to 1,000 healthcare providers by mid-2027.
3️⃣ Tencent signs Oracle deal for 100,000 AI chips abroad
The reported deal involves a five-year lease on 100,000 chips located in Oracle data centers across Southeast Asia. This comes as Tencent invests in its Hunyuan model to close the gap with its Chinese rivals.
4️⃣ Meta names new Southeast Asia business group head
Meta has appointed Dhruv Vohra as managing director of its Global Business Group in Southeast Asia. He will lead commercial strategy across Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.
5️⃣ Huawei launches new Kirin chips after $250b R&D investment
The company said its US$250 billion R&D investment from 2007 to 2025 helped drive advances in its Kirin chips, HarmonyOS, and other technologies. The new chips are featured in Huawei’s new Mate 90 series of smartphones.
PRESS PEEKS
The following press releases were published as they were received, without any editing from the Tech in Asia team. You, too, can publish your own press release on our site by simply filling out this form. Our team will get back to you by the next business day.
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