Indonesia’s leading digital telecom operator Telkomsel has invested an additional sum of $300 million in homegrown ride-hailing major Gojek, according to a press statement.
Telkomsel had invested $150 million in Gojek in November 2020.
This investment builds on the existing collaboration between Telkomsel and Gojek and will open up new synergies as the two companies scale up digital services and deliver new solutions, the companies said in a statement.
Telkomsel CEO Setyanto Hantoro said the new investment will strengthen its digital business and open more opportunities for partnership. “As a digital telco company, we continue to develop sustainably by developing the digital industry in Indonesia.”
“Telkomsel’s new funding will also optimise the resources and technology expertise of each company to innovate and expand the benefits of the digital economy for more consumers, driver-partners, and MSME players throughout Indonesia,” Gojek co-CEO Andre Soelistyo said.
Telkomsel’s shareholders, including Telkom Indonesia and Singtel Group, have approved the additional investment in Gojek.
Telkomsel has integrated several of its products and services into Gojek including Telkomsel MyAds service with GoBiz and co-marketing games services Telkomsel Dunia Games and GoPay, among others.
Telkomsel’s additional funding in Gojek comes at a time when the ride-hailing major and e-commerce unicorn Tokopedia are close to inking a merger.
Gojek has raised over $3.45 billion from top investors including Alphabet Inc’s Google, Facebook, PayPal, Visa, Tencent, Astra International, Northstar Group, and more.