Indonesia’s tech wearables firm ZULU confirms investment from Gojek

Photo: ZULU

Indonesia’s tech wearables and apparel firm ZULU has secured an unspecified investment from ride-hailing major Gojek, a top executive confirmed to DealStreetAsia.

ZULU, founded by Nathan Roestandy and Yusuf Syaid in 2018, produces Bluetooth motorcycle helmets, pollution control masks, motorcycle jackets, gloves, and goggles. Its products are currently available on e-commerce site Lazada.

Gojek’s investment in ZULU was first reported by Daily Social.

“We secured funding from Gojek in August 2018 after pitching our business in January 2018. From there, we were part of the Gojek rebranding campaign – managing production, QC and delivery of the two types of jackets [for Gojek driver-partners],” ZULU co-founder and CTO Yusuf Syaid said.

“We assisted Gojek’s intenal supply chain digitalization process by creating smart barcodes using RFID – used in the new jackets and helmets, producing over two million pieces [in total], with more on going for their future driver attributes like the GoFood bag and so on in the pipeline,” Syaid added.

DealStreetAsia has reached out to Gojek for comment.

Gojek is currently the sole investor in ZULU, which is also in the process of raising its Series A round. Declining to divulge details about the startup’s fundraising targets, Syaid said the fresh capital will be used to grow the team and launch stealth projects.

The ZULU investment is Gojek’s first in the consumer goods space in the country. So far, Gojek has made 11 acquisitions, with the most recent one being Indian AI-powered tech recruitment platform AirCTO in June last year. The firm has also invested in the Series D round of Indian cloud kitchen Rebel Foods.

On the fundraising front, as reported earlier, Gojek will seek to complete its Series F financing round of at least $2 billion this year.

Singapore Reporter/s

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

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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.