Jakarta. Qlue, the most comprehensive smart city ecosystem provider in Indonesia, has successfully closed a new funding round through a Private Bridges Rounds scheme with ICMG Co-Creation Funds Investment, part of the Japan-based ICMG Group.
With this agreement, ICMG Group will be involved in developing Qlue's smart city solutions and businesses, particularly the comprehensive surveillance system solutions.
Founder and CEO of Qlue Rama Raditya said this funding round provides a strong foundation for the company to expand its business through diversifying its smart city solutions in Indonesia. The funding round also gives a positive signal that the technologies developed by Qlue have bright business prospects, in line with the recovery in global economic conditions.
For Qlue, the new funding round also expands room for innovation in artificial intelligence (AI) and Internet of Things (IoT).
According to Rama, the collaboration will help Qlue's business in the international market, thanks to the support of the ICMG Group's global business network.
With the new funding, Qlue aims to strengthen its business expansion in 6 countries, namely Singapore, Malaysia, the Philippines, Vietnam, Thailand and Japan.
"We have a strong ambition to accelerate positive changes in Indonesia and around the world. This funding deal with ICMG Group is also part of Qlue's commitment to develop solutions in a sustainable manner and deliver innovations that fit market needs through AI and IoT technology," Rama said in a recent press statement.
"We believe this strategy will strengthen the company's performance and maintain business growth of up to 70 percent in the coming years," he added.
The development and implementation of comprehensive surveillance system technology will increase significantly along with highly rate urbanization.
By 2050, 70 percent of the world's population is predicted to live in urban areas searching for economic opportunities and a better life. However, densely populated areas could struggle with urbanization-related issues and challenges.
Thus, cities will need better surveillance technology related to security and public surveillance systems. Qlue's solutions will optimize surveillance cameras like CCTV and various IoT sensors to optimize surveillance systems by applying features like face detection and recognition, intruders and other disturbance potential recognition, vehicle classification and detection, and features that could prevent illegal parking.
Qlue's comprehensive surveillance system has an integrated dashboard to visualize and analyze field data. Authorized officers will receive direct notifications to enable a fast and accurate response to the problem.
CEO of ICMG Co-Creation Investment Funds Gen Funahashi said that Qlue's vision aligns with ICMG's business values in terms of sustainable business and providing value to society. The development of the smart city ecosystem carried out by Qlue also has good business potential, which is in line with the massive digitalization and the implementation of artificial intelligence by businesses.
"We are very excited with this partnership because Qlue's business model has the good capabilities to provide added value for businesses. ICMG believes that Qlue's technology can encourage the transition to smart city implementation in Indonesia more broadly and benefit the public," Gen Funahashi said.
This Private Bridges Round deal will also involve the ICMG Group business network, which is carried out by ICMG Partners Co. Ltd. Thus, Qlue's target to implement its solutions globally can be achieved more quickly, especially in markets like Malaysia, Singapore, Japan, Thailand, Vietnam, and the Philippines.
ICMG Group will also support Qlue's business expansion by utilizing its business network, especially with companies headquartered in Japan.
As the first step in this collaboration, ICMG Group will ask subsidiaries of Japanese companies operating in Indonesia to support the implementation of Qlue technology solutions.
In 2021, Qlue achieved significant global market achievements by implementing Qlue solutions in the city of Minamichita, Japan, which is part of the Japanese Government's program to anticipate high urbanization that could result in many empty buildings in rural areas.
The use of the Qlue application is expected to encourage people's contribution to development in their area.