Indonesian unicorn GOJEK said to invest in two Indian companies

Go-Jek Indonesia office. Photo: Go-Jek

Indonesian ride-hailing unicorn GOJEK is in advanced talks to invest in India’s cloud kitchen player Rebel and gaming company Mobile Premier League (MPL), according to a report by Times of India.

Citing industry sources, the report says GOJEK plans to set up a joint venture with Rebel, which claims to be the world’s largest delivery only/internet restaurant company. The move will see both companies invest a combined amount of around $8 million-$10 million to take the latter’s cloud kitchen expertise to GOJEK’s Southeast Asia market.

The initiative is expected to enhance GOJEK’s food delivery business, Go-Food, which has seen its arch rival GrabFood aggressively building a cloud kitchen network in Indonesia, following the launch of Kitchen by GrabFood laste last year.

Meanwhile, GOJEK is also leading a $30-million round in eSports startup Mobile Premier League (MPL), which is valued at $150 million. The round is joined by Times Internet and existing backer Sequoia Capital India, which recently backed the Bengaluru-based startup in a $5 million Series A deal.

MPL, which boasts over 1,000,000 installs on PlayStore, is a skill-based eSports platform which offers its users cash prizes on games like cricket, puzzle and crossword.

The deal with MPL marks an expansion by GOJEK into the gaming industry, which according to a Google KPMG report in May 2017 is expected to reach $1 billion by 2021 in the Indian market, while in Indonesia the segment is predicted to amount to $624 million this year, according to Statista data.

India is known to be GOJEK’s preferred market outside of Southeast Asia for new technology. The company has reportedly acquired three Indian companies to strengthen its technology and engineering, in addition to setting up an R&D center in Bengaluru.

In October last year, GOJEK was reportedly looking to hire 200 engineers in Bengaluru including data scientists, full-stack engineers, data engineers, product managers, UI/UX designers and backend engineers to strengthen its existing portfolio of 18 products.

GOJEK is currently fundraising for its 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 first close of the round was reached last month when GOJEK announced a $100 million from Indonesian conglomerate Astra International.

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

Also Read:

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Philippines rejects GOJEK’s appeal against ride-hailing licence ban

Grab follows rival Go-Jek with R&D centre in India, adds in Vietnam too

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.