Digital advertising company FunP Innovation Group in Taiwan has secured a US $3.1 million investment from Ennoconn Corporation, a local cloud management services provider that Foxconn just purchased.
Under FunP’s business arm CacaFly, the funding will be utilized to create smart retail and cloud services solutions for Indonesia and other Asia-Pacific nations. This comes as President Joko Widodo said during the 2022 G20 Summit that Indonesia is focusing on digitally modernizing its economy via investments in sectors like cloud computing and 5G.
CacaFly, which was founded in 2009, specializes in social networking. It has teamed with Facebook and Microsoft to serve as their official reseller for advertising in Taiwan.
CacaFly collaborates with MetroData, a regional distributor of electronics, in Indonesia. In June 2022, the two businesses announced a joint venture for digital marketing across the archipelago.
Ennoconn wants to improve its services in industries including gaming, video conferencing, smart cities, smart buildings, and retail by leveraging CacaFly’s expertise in digital marketing and cloud computing. Ennoconn has also made plans to concentrate on the adoption of AIoT technology.
