BRI Ventures led the Series A investment round in Brodo.

BRI Ventures, a corporate venture capital firm, led the Series A investment round in Brodo, an Indonesian shoemaker. Financial terms were not disclosed. PT Bank Rakyat also participated in the round through subsidiary. “With this funding, we will double down on our product innovation and strengthen our supply chain network to help deeper penetrate Indonesia’s market. We are also preparing for our second stage of growth to fulfill a specific mission of making Indonesian brands cool again. This will ignite the revolution of digital-first microbrands,” Yukka Harlanda, Brodo CEO.