Film watching and streaming application service, Vidio owned by PT Surya Citra Media Tbk (SCMA) received funding of $45 million or equivalent to Rp663 billion.

This funding was obtained from various well-known companies, such as the Sinar Mas Group through PT DSST Mas Gemilang (DSST), Grab LA Pte Ltd which is a subsidiary of Grab, and PT Ekonomi Baru Investasi Teknologi (EBIT) which is a subsidiary of Bali United.

Daniel Cahya, Director of PT Dian Swastika Sentosa Tbk (DSSA), as the parent company of DSST explained, this collaboration aims to develop a mutually beneficial service offering between Vidio and its investor partners.

"Emtek Group (SCMA's parent company) can also take advantage of strategic partnerships with DSST, Grab, and EBIT to continue to drive Vidio's growth and strengthen its position as the leading OTT in Indonesia," said Daniel, as written in Kontan.

Later, this leading OTT (Over The Top) local platform will collaborate with various partners, such as Smartfren and MyRepublic to improve services.

“This investment is the starting point for a sustainable collaboration between the Sinarmas Group and the Emtek Group. We believe this collaboration is a positive step for the Sinarmas Group, including Smartfren (cellular data), MyRepublic (FTTH), and other DSST digital investments, with Vidio as the content provider," explained Daniel.

Neneng Goenadi, Country Managing Director Grab Indonesia explained, “We are pleased to be able to strengthen the strategic partnership that has been established with Emtek Group through investment in Vidio. As the largest OTT platform in Indonesia, Vidio has a very broad reach, and we see the potential for solid synergies for the Grab and Vidio ecosystems.”

"With the new funds, we will increase our commitment to users by continuing to add premium content, as well as platform features and quality to become the most reliable and widely watched local platform in Indonesia," said CEO of Vidio, Sutanto Hartono, citing Liputan6.

Apparently, this is not the first funding for Vidio. Previously, Vidio had received funding of $150 million or equivalent to Rp2.4 trillion from Affinity Equity Partners (Affinity), as one of the largest equity companies in Southeast Asia.