FunP Innovation Group, a Taiwanese conglomerate specializing in digital advertising and technology, recently obtained finance from Ennoconn Corporation in the amount of US$3.12 million for its business unit, cacaFly, to create smart retail and cloud solutions for Indonesia and other countries in APAC.
According to a recent PwC report, the use of cloud computing may potentially boost Indonesia’s GDP by US$10.7 billion between 2021 and 2025. This shows the potential of digital technologies like AI, blockchain, cloud computing, and IoT for businesses and the government.
By decreasing the need for travel, cloud computing not only adds economic value but also benefits the environment. According to the report, 89% of SMEs now use cloud computing, which has contributed to a rise in income of over 20%. A third or so of large businesses claim that cloud computing has reduced costs by 40%.
Through its subsidiaries, cacaFly and TenMax, FunP group has continued to grow after making a name for itself in the Indonesian industry. TenMax established an office in Indonesia to work on digital advertising solutions, while cacaFly launched PT cacaFly Metrodata Indonesia (CMI), a data-driven digital marketing firm with PT Metrodata Electronics, Tbk.
Ennoconn wants to improve its IOT and industrial computing capabilities across a range of industries, including gaming, video conferencing, smart cities, smart buildings, and retail, by leveraging cacaFly’s expertise in digital marketing and cloud computing.
The funding will also help funP become a cloud services provider. In 2022, cacaFly opened the Cloud AI+ Solution Center in Taiwan in collaboration with Google Cloud to support local and regional businesses as they undergo a digital transformation by moving from on-premise to cloud computing.
The collaboration between cacaFly and Ennoconn will specifically assist the latter in incorporating AIoT technology into its operations across international markets, allowing them to offer ESaaS software solutions while integrating environmental, social, and governance (ESG) applications. For instance, this technology can aid businesses in reducing their carbon footprint, increasing sustainability, and optimizing their energy use.