GOJEK secures $100m investment from Astra International, inks joint venture

A Go-Jek motorcycle taxi driver and a passenger travel along a road in Jakarta, Indonesia, on Saturday, Aug. 4, 2018. Photographer: Dimas Ardian/Bloomberg

GOJEK has raised $100 million from Indonesian conglomerate Astra International, bringing the unicorn to the first close of its ongoing Series F round.

This is a follow-on investment for Astra. The Indonesian-listed company had invested $150 million in GOJEK’s Series E round last year.

Astra has businesses across automotive, financial services, heavy equipment, mining, construction and energy, agribusiness, infrastructure and logistics, IT and property.

According to a statement, Astra and GOJEK will set up a joint venture to operate a fleet of several thousand cars. This fleet of vehicles will be pre-installed with Astra’s fleet management system.

Nadiem Makarim, CEO and founder of GOJEK, said: “Industry players must join forces to maximise the great potential of the Southeast Asian digital economy, especially in Indonesia. The combination of Astra’s strength in the automotive sector and GOJEK’s leading technology will open up more opportunities for people to grow their incomes and improve their welfare.”

Last month, DEALSTREETASIA reported that GOJEK hired Citibank to raise an additional $2 billion comprising a mix of equity and debt financing.

GOJEK’s ongoing Series F round already has over $1 billion raised from investors such as Mitsubishi Corp. and Provident Capital, along with Google, JD.com and Tencent Holdings Ltd.

The Indonesian unicorn has been aggressively expanding its services across Southeast Asia in recent months. GOJEK launched the full version of GET in Bangkok last week. The Singapore and Vietnam markets are operating on the beta version of the GOJEK app. It, however, suffered a roadblock in The Philippines after regulators banned its entry due to foreign ownership issues.

Last year, GOJEK said it plans to extend its services to Malaysia, Myanmar and Cambodia this year.

Also Read:

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GOJEK launches GET in Bangkok, rolls out food delivery service

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.