Telstra’s venture capital arm Telstra Ventures has announced signing a memorandum of understanding (MOU) with Telkom Indonesia’s corporate venture arm PT Metra Digital Investama for collaborating on startup investment opportunities in South East Asia.

Investing in startups and technology companies has created new revenue streams for the telecommunications provider, said Cynthia Whelan, group executive of International and New Businesses at Telstra, particularly in the growing Asian region.

“Over the past five years, Telstra Ventures has invested over AU$200 million (£116.56 million) in more than 30 different technology companies, giving us access to new revenue streams and cutting-edge technology we can use in-house and provide to our customers,” said Whelan.

“Our ventures investments are increasingly occurring in Asia, and we are very excited to be collaborating with Telkom to identify the best new emerging technology companies in the region.”