Jeff Bezos Makes First-Ever Investment in SEA

Amazon founder Jeff Bezos makes his first investment in Southeast Asia on Monday, October 5, 2021 as Bezos participated in an $87 million Series B funding for the e-commerce startup Ula.

Ula is a startup that offers technology solutions for small retailers that looks to expand their market to other cities in Southeast Asia and overseas.

The startup also offers a buy now pay later system and builds local supply chain and logistics infrastructure.

Bezos Expeditions, along with Northstar group, AC Ventures, and Citius joined the round co-led by Prosus Ventures, Tencent, and B-Capital.

Ula also hired Pandu Sjahrir as their adviser, who also holds commissioner roles at the Indonesia Stock Exchange, ride-hailing giant Gojek or PT Aplikasi Karya Anak Bangsa, and the local branch of Singapore’s Sea Ltd., which owns Shopee and Garena. (ASC)