Indonesia – Cheetos, the iconic snack brand from Frito-Lay, has returned to the Indonesian market, marking a major milestone following PepsiCo Indonesia’s new $200m (Rp3.27t) manufacturing facility in Cikarang.

Gabrielle Angriani, director of public policy, government affairs & corporate communications at PepsiCo, announced in a LinkedIn post that the company has successfully opened its first factory in Indonesia and commenced Cheetos production at the Cikarang facility as of January 2025.

“We are thrilled to bring smiles back to the Indonesian people. To ensure the highest quality and taste, we are committed to using only the best ingredients,” she added.

Photos from: Gabrielle Angriani (LinkedIn)

In the same post, Angriani also expressed her gratitude to the government of Indonesia for helping PepsiCo in making the new $200m investment happen.

Cheetos Indonesia also announced its comeback on social media with a series of posts on Instagram.

Cheetos’ return to Indonesia marks the end of its four-year hiatus, which began after a licensing agreement ended in 2021.

According to Jakarta Daily, Cheetos, Lay’s, and Doritos were pulled from the market in August 2021 when their former producer, PT Indofood CBP Sukses Makmur Tbk (ICBP), ceased production following the expiration of its licensing deal with Frito-Lay Netherlands Holding B.V.

The termination reportedly stemmed from a commercial dispute. Before it, Indofood produced the snacks through its joint venture with Fritolay, PT Indofood Fritolay Makmur (IFL). In February 2021, ICBP acquired Frito-Lay’s remaining 49% stake in IFL for Rp494 billion, dissolving the partnership. The expired agreement prohibited Fritolay and its affiliates from producing the brands locally.

In 2023, Reuters reported that PepsiCo had begun constructing a snack factory in West Java, marking its return to Indonesia following the 2021 split. The facility, part of PepsiCo’s $200 million investment commitment over 10 years, is slated to begin snack production by 2025.

Canada – StackAdapt has secured a $235m growth capital investment led by Teachers’ Venture Growth (TVG), the late-stage venture and growth arm of Ontario Teachers’ Pension Plan, with participation from Intrepid Growth Partners and four other investors.

Founded in 2014 by Vitaly Pecherskiy, Yang Han, and Ildar Shar, StackAdapt built a next-generation programmatic advertising platform focused on solving customer challenges, leveraging AI and automation, and delivering a fast, seamless self-serve experience.

With this funding, StackAdapt will strengthen its presence in programmatic advertising while expanding into marketing technology. Headquartered in Toronto with a global team of over 1,300, StackAdapt supports modern marketers across 19 markets worldwide.

Vitaly Pecherskiy, co-founder and CEO at StackAdapt, said, “The challenges marketing teams face are vast and evolving rapidly. Much of the pressure to drive growth rests on their shoulders as they work to reinvent operations and discover new ways to reach customers effectively, profitably, and predictably.” 

“To help them stay ahead of the curve, we are relentlessly focused on building the most advanced, intelligent, and automated platform to make their success inevitable. We are excited to partner with TVG and the other great investors in this round to drive growth and innovation within StackAdapt, continuing on our mission to transform how marketers use technology to create value within their companies,” Pecherskiy added. 

This round follows Summit Partners’ $300M investment in 2022, bringing StackAdapt’s total funding to over $500M. The investment comes as the company expands its research and development, enhances its technology capabilities, and grows its global presence.

J.P. Morgan served as lead placement agent, with RBC Capital Markets as co-placement agent for the raise.

“We are proud to support StackAdapt, a leading Canadian technology company, on its trajectory to becoming the global leader in AI-driven, end-to-end advertising,” said Rick Prostko, senior managing director at TVG. 

He continued, “The company has been able to demonstrate consistent growth and profitability while building the future of advertising and marketing technology. We have been impressed by their exceptional team, visionary leadership, and relentless focus on delivering customer value.”

“Intrepid is thrilled to make StackAdapt its first investment. Vitaly, Yang, and their team have built a remarkable company that highlights the tremendous potential of AI,” Mark Machin, managing partner and founder of Intrepid, added. 

India – Microsoft has announced a US$3b investment in India over two years to enhance cloud and AI infrastructure, skilling, and establish new datacenters, driving AI innovation in the country.

During his visit to India, Microsoft Chairman and CEO Satya Nadella announced plans to expand the company’s cloud and AI infrastructure across its datacenter campuses. With three datacenter regions already operational and a fourth set to launch by 2026, the investment aims to build a scalable AI ecosystem to support India’s growing AI start-ups and research community.

The new datacenters will also feature zero-water cooling, reinforcing Microsoft’s commitment to sustainable AI growth. Additionally, long-term renewable energy contracts with Amplus and ReNew support the company’s goal of becoming carbon-negative by 2030.

Nadella said, “India is rapidly becoming a leader in AI innovation, unlocking new opportunities across the country. The investments in infrastructure and skilling we are announcing today reaffirm our commitment to making India AI-first and will help ensure people and organisations across the country benefit broadly.”

Puneet Chandok, president of Microsoft India and South Asia, further explained, “In the last 12 months Microsoft has been a copilot to making AI a reality in India, taking it from boardrooms to classrooms, commerce to communities, and finance to farmers. Today’s announcement strengthens our belief in India’s potential and our resolve to equip the country with the resources and future-ready skills needed to excel in the global marketplace. We will continue to use AI to unlock possibilities for the next few decades and ensure communities across the country have access to the compute they need to prosper in the AI era.”

Moreover, Microsoft plans to bolster India’s long-term competitiveness by equipping 10 million people with AI skills over the next five years through the second edition of its ADVANTA(I)GE India program. As part of Microsoft’s Global Skills for Social Impact charter, the program will deliver training in collaboration with government, nonprofit, and corporate partners, as well as local communities.

Shri Jayant Chaudhary, Minister of State (Independent Charge), Ministry of Skill Development and Entrepreneurship, said, “India’s vibrant youth and tech talent are key to shaping the future of AI. Through the ‘AI for India’ mission, we aim to empower citizens with cutting-edge AI skills, driving innovation, creating jobs, and bridging the digital divide. Collaborations with global leaders like Microsoft and similar companies are pivotal in this transformation. By equipping our workforce, especially women and youth, with advanced skills, we are building an AI-ready India, poised for digital leadership and sustainable economic growth.”

To strengthen its commitment to India’s AI ecosystem, Microsoft Research (MSR) Lab also launched an AI Innovation Network. This initiative will drive new collaborations, particularly with digital-native companies, to accelerate the translation of AI research into practical business solutions.

In line with this, Microsoft signed an AI MoU with SaaSBoomi, an Indian B2B startup community. The partnership aims to fuel the growth of India’s AI and SaaS ecosystem, positioning the country as a global product powerhouse and contributing to its trillion-dollar economy.

By combining SaaSBoomi’s network with Microsoft’s technology, the collaboration seeks to support over 5,000 startups and 10,000 entrepreneurs, upskill 150,000 employees, and drive regional development in more than 20 tier II cities. Over the next five years, the initiative aims to create 200,000 new jobs, attract $1.5b in venture capital, and nurture 50 unicorns and soonicorns, advancing innovation, sustainability, and tech infrastructure across India.

Microsoft underscores that its investments in accelerating AI innovation are crucial to supporting Prime Minister Narendra Modi’s vision of transforming India into a developed nation (Viksit Bharat) by 2047.

India – Kimberly-Clark is set to strengthen its presence in India by scaling up operations and boosting investment at its Bengaluru-based Global Digital Technology Center (GDTC), with a strategic focus on advanced innovations and digital transformation.

Kimberly-Clark revealed that over the next three years, its GDTC will expand its AI/ML capabilities and digital solutions to enhance operational efficiency and customer engagement, further supporting its global ‘Powering Care’ strategy and commitment to consumer-centricity.

The Bengaluru GDTC is driving Kimberly-Clark’s tech advancements while contributing to India’s innovation ecosystem by partnering with startups, universities, and industry leaders to develop cutting-edge solutions.

“Our Bengaluru GDTC is a testament to Kimberly-Clark’s deep-rooted commitment to innovation and the immense breadth of Indian talent,” said Zack Hicks, chief digital and technology officer at Kimberly-Clark. 

“In just five years, the centre has evolved into a key growth engine for our digital strategies, delivering AI-powered commercial and supply chain solutions and pioneering advancements in modern manufacturing. Looking ahead, we remain focused on further investing in India, leveraging the country’s outstanding talent and technological expertise to shape the future of Kimberly-Clark and pioneer industry-leading innovation in our core categories,” Hicks explained. 

Founded in 2018 with a $2.5 million investment, the Bengaluru GDTC has grown eightfold in five years, focusing on digital capabilities like AI, ML, data analytics, and cloud transformation. The center leverages AI/ML to optimise sales predictions, refine e-commerce pricing, and automate processes like order entry. In 2024, Gen AI platforms boosted employee productivity by 25%, while AI-driven sales analytics improved execution by 10% in regions including Europe, the Middle East, and Africa. These innovations enhance efficiency, reduce costs, and improve accuracy.

The GDTC recently hosted its third Digital Hackathon, ‘UNLOKC 2024,’ bringing together Kimberly-Clark employees and tech partners to create digital solutions for business opportunities in supply chain, marketing, and finance.

As Kimberly-Clark’s largest tech hub, the Bengaluru GDTC will remain a key driver of global growth and innovation, attracting top talent and expanding its capabilities to shape the company’s future and its tech ecosystem.

United States – Convertr, a global lead management operating system trusted by enterprises, marketing agencies, and publishers, have announced that it will invest US$12m in a bid to redefine the future of data-driven marketing, empowering companies to take control of their data and drive consistent, actionable insights.

Said investment will fuel Convertr’s ambitious vision, expansion and product development including new AI-powered features and enhanced integrations.

As part of the investment, the company has also tapped AI industry veteran Spyros Karageorgis, joining as chief financial officer from Eigen Technologies, and Jason Gladu as chief strategy officer who held previous roles with Spiceworks and Ziff Davis in the US.

Moreover, as part of this strategic growth, Convertr plans to launch a wide range of features in its enterprise platform next year, many of which will focus on AI. Among these, a key addition is AI Fraud Detection, designed to eliminate fraudulent data from lead flow and provide clients with unmatched data accuracy.

This enhancement will bolster data integrity for Convertr’s global clients, which include industry leaders such as Oracle, AWS, Dentsu Aegis, and Stripe, and see headcount increase by 44% over the next two years with recruitment in AI, security, sales, and engineering.

Emma Bowkett, CEO at Convertr, said, “It’s time the industry woke up and realised bad data is not an inevitability. For years, companies have accepted it as a fact of life, but that doesn’t have to be the case. Convertr gives marketers the control they need to ensure their data is reliable, actionable, and ready to drive results. We are building a new standard in data quality – one where every lead adds value instead of clutter.”

She added, “Marketeers no longer want just a system of record. Instead, they want a system of intelligence. Our platform has been developed from the ground up to enable our clients to be the arbitrator of truth in a future that depends on validating and enriching the merit of data, not just intent.”

The investment also looks to address broader challenges faced by B2B businesses in managing and migrating data in an era where marketing teams struggle to overcome systemic overload. With over 14,000 marketing technology solutions available in 2024, inefficiencies are rife. Compounding these issues, 65% of marketing leaders report difficulties in deriving meaningful insights from operational data, while 74% highlight compliance as a growing burden.

Meanwhile, Danny Hannah, chief technology officer at Convertr, commented, “Convertr is at the forefront of redefining how data flows between data providers and marketers, setting new standards for quality, automation, and transparency. With this latest investment, we’re excited to fuel our themes of intelligence and connectivity, ensuring our platform continues to drive greater efficiency and new levels of innovation to marketing teams around the globe.”

Bowkett further added, “We are proud that our platform is seen by our clients and partners as a critical part of their lead management infrastructure. With an investment of this magnitude, we will accelerate our reach with even more enterprises, agencies, and publishers.”

India – Building on the recent announcement of its new Chennai campus, WPP has unveiled plans to deepen its investment in India by scaling up its Global Delivery Centre (GDC) operations. The specialist hub, supporting WPP teams worldwide, will be headquartered in India, reinforcing the country’s strategic importance.

WPP is expanding its GDC team in India, one of its fastest-growing markets and a hub of innovation and creativity. Leveraging its 11,000-strong workforce in the country, the GDC builds on existing expertise to further strengthen WPP’s presence in the region.

The GDC employs 10,000 people globally and is key to WPP’s business transformation strategy. It offers advanced capabilities like cloud modernisation, hyper-personalisation, composable commerce, VR, XR, generative AI, and product engineering, complementing WPP’s expertise in media, content, CX, commerce, technology, data, and design.

Leading this growth is Prashant Mehta, appointed as managing director of the GDC, tasked with driving its global expansion, with India housing the majority of its talent.

Mehta, a seasoned expert in digital transformation, joins WPP from Accenture, where he served as global managing director of global assets at Accenture Song, leading its generative AI-driven asset strategy, delivery, and adoption. Previously, he held roles as global chief product and delivery officer at Dentsu Creative & Experience and group vice president at Publicis Sapient.

Speaking on his appointment, Mehta said, “It is an honour to be leading the WPP GDC, which has been built to evolve with the changing demands of our clients while delivering the highest standards of excellence. I look forward to working with our integrated teams as we harness AI and creativity to transform how we deliver growth for our clients.”

Meanwhile, Mark Read, CEO of WPP, shared, “Our Global Delivery Centre enables agency teams and their clients to tap into specialist expertise and new capabilities. It is underpinned by WPP Open, our AI-driven operating system for marketing transformation, fuelling growth and connecting the dots across our business. I welcome Prashant to WPP and look forward to working with him to develop our offering.”

CVL Srinivas, WPP’s country manager for India, added, “As we look to drive further growth and transformation in and from India, we are excited to welcome Prashant Mehta onboard. The expertise of our team in India makes it the prime location to power our clients’ needs with a scaled world-class GDC.”

Singapore – Amazon has announced that it has invested more than S$2 billion across its retail and cloud businesses in Singapore in 2023. This includes both capital expenditure such as improvements to existing infrastructures, including fulfilment centers, delivery stations, and data centers, and operating expenditure towards technology, safety, expansion of programs for customers, delivery partners, small and medium businesses and employee compensation.

The company’s investment in Singapore supported more than 4,000 indirect jobs in areas like construction, logistics, and other professional services according to third-party consultancy firm Keystone Strategy. 

In addition, according to a survey conducted by Amazon, Singapore businesses selling on Amazon have created more than 6,000 jobs to support their Amazon-related business activities. In total, Amazon supported more than 10,000 indirect jobs in Singapore in 2023 alone.

Since the launch of Amazon Prime Now in 2017 (now renamed Amazon Fresh) and Amazon.sg in 2019, Amazon has continued to invest in its operations to offer a faster and more convenient shopping experience for Singapore customers. Amazon’s investments have enabled the company to avail same-day and next-day delivery for eligible products to customers in Singapore.

Moreover, through Amazon Global Selling, Singapore selling partners can export their products to customers around the world on Amazon. Amazon continuously invests in tools, services and programs to improve its selling partners’ experience and help them grow their businesses with Amazon. 

Other endeavours Amazon had helped in include Amazon Web Services supporting Singapore’s digital transformation ambition, commitment to support the communities where it operates, as well as investing and innovating in sustainability across its businesses in Singapore.

Peter Li, director of China & Singapore and International Store at Amazon, said, “Since the start of our operations in Singapore in 2010 and the launch of Amazon.sg in 2019, we’ve been able to invest and grow our presence in the country with the support of our customers and selling partner.”

He added, “We’re humbled to see our investments unlock growth opportunities for businesses in Singapore and are proud to continue to support Singapore’s economy and digitisation.”

Indonesia – Apple Inc. is reportedly planning a US$100m investment in Indonesia in an effort to convince the government to lift its sales ban on the iPhone 16. 

According to a Bloomberg report, sources familiar with the matter revealed that Apple has proposed increasing its investment tenfold to US$100m, a significant jump from its earlier commitment of approximately US$10m.

Apple’s earlier investment plan in Indonesia focused on establishing a factory in Bandung, southeast of Jakarta, to produce accessories and components. 

However, after Apple submitted its revised offer to increase the investment, Indonesia’s Ministry of Industry reportedly called on the tech giant to redirect its plans toward developing research and development capabilities for its smartphones within the country.

The unnamed sources noted that the Ministry of Industry has yet to make a final decision on Apple’s latest proposal.

Bloomberg further reported that after Apple’s initial proposal, the Ministry of Industry requested a meeting between senior company executives and Minister Agus Gumiwang Kartasasmita. However, upon their arrival in Jakarta, the executives were informed that the minister was unavailable and instead met with the ministry’s director-general.

Apple’s investment proposal follows last month’s decision by Indonesia’s Ministry of Industry to block domestic sales of the iPhone 16, citing the company’s failure to meet the country’s 40% local content requirement for smartphones and tablets.

Manila, Philippines – Del Monte Pacific has announced that it will restructure its investment in Del Monte India by exchanging its shares with 13% direct shareholding in Agro Tech Foods Limited (ATFL), an Indian food company. In turn, ATFL will acquire the 59% equity stake of the Bharti Group in Del Monte India.

In a recent disclosure by Del Monte Pacific, it stated that it will continue licensing the Del Monte trademark to Del Monte India on a perpetual and exclusive basis to protect the value of the brand by safeguarding Del Monte quality standards and derive royalties therefrom.

“The Group’s direct investment in ATFL means that it would be invested in a broader business that includes profitable product categories which have yielded shareholder returns for several years. Further, a direct equity stake in a company whose ordinary shares are listed in stock exchanges generally means more liquidity for its shareholders and enhanced corporate governance practices and benefits,” Del Monte Pacific said in their disclosure.

Given how ATFL has a bigger consumer packaged goods platform with a wider and deeper distribution network in India, Del Monte Pacific stated that ATFL is well-positioned to grow the Del Monte brand in India.

“India has been an exciting and flourishing market, and we are proud of the brand’s journey and impact on the Indian food industry. Under Sundrop Brands’ platform, we believe the Del Monte brand will reach new heights in India. This transaction supports the Group’s strategic focus on its core markets and partnerships that drive growth,” Rolando Gapud, executive chairman at Del Monte Pacific, stated.

ATFL has just rebranded itself as Sundrop Brands, and holds popular consumer brands such as ACT II popcorn and Sundrop edible oil. 

India – Celebrating its 50th anniversary, Landmark Group has announced a $1b investment to fuel its expansion across the Gulf, India, and Southeast Asia, aiming to open 400 new stores over the next three years.

Landmark Group’s investment is set to boost its retail footprint by 20% by 2028, alongside increased commitments to ecommerce, supply chain, and technology enhancements as the group builds on its current annual revenue of over $7b (FY ’23-24) across all markets.

The Group’s expansion plans also feature the debut of its latest brand, VIVA, in Saudi Arabia in 2025, along with the rollout of Babyshop, its flagship brand, in four cities across India within the next six months.

Renuka Jagtiani, chairwoman of Landmark Group, said, “We are deeply committed to serving our customers through our own brand portfolio by offering relevant products and value. Physical stores remain a vital part of the retail experience, and we continue to upgrade store design whilst we invest in ecommerce and in the latest technology and innovation. We believe that this is key to staying relevant to ensure a seamless customer experience, both on and off-line.”

“Landmark’s entrepreneurial core, its purpose-driven approach, adaptability, and strong leadership have enabled it to evolve in line with changing consumer habits and needs and play a leading role in advancing the sector,” Jagtiani added. 

Backed by a dedicated workforce of over 23,000, Landmark Group has established a strong presence in India over the past 25 years, with nearly 1,000 outlets across 265 cities. The Group plans to add 250 more stores over the next three years—including eight Babyshop locations within six months—and is investing in digital capabilities to achieve 20% annual growth in its Indian e-commerce business over the next five years.

Kabir Lumba, CEO of Landmark Retail, explained, “We still see great momentum with our stores, and our online business is growing strongly at over 20% per annum. To maintain this trajectory, we are committing $1 billion in the next three years towards our physical expansion and upgrading our e-commerce, technology, and supply chain capabilities.”

Landmark Group currently boasts 12 million square feet of automated warehousing and distribution space, including its $350 million Mega Distribution Centre in Jebel Ali. In 2022, it launched Logistiq, a third-party logistics company serving clients beyond its own ecosystem.

“In just 18 months, we have rapidly scaled our last-mile delivery services to handle over 20,000 daily shipments across KSA and UAE for more than 50 clients, with a fleet of over 800 vehicles. Looking ahead, our vision is to build a leading logistics business by developing our end-end supply-chain offering, including freight, warehousing, and cross-border delivery solutions, while expanding our coverage across the GCC,” Lumba continued.