Go-Jek has picked up another $100m in fresh capital as part of its ongoing Series F funding round, where the company aims to raise at least $2bn. The latest influx of cash has come from existing investor Astra International, an Indonesian conglomerate operating within the automotive, infrastructure, manufacturing, and agribusiness industries.
The investment – which brings Astra’s total investment in the Southeast Asian ride-hailing firm to $250m – comes with an agreement between the two parties to setup a joint venture where thousands of Go-Jek’s drivers’ vehicles, specifically Go-Car, are pre-installed with Astra’s fleet management system. The aim of the venture will be to provide opportunities for partners to provide online door-to-door transportation services.
“Industry players must join forces to maximise the great potential of the Southeast Asian digital economy, especially in Indonesia,” said Nadiem Makarim, CEO and founder of Go-Jek. “The combination of Astra's strength in the automotive sector and GO-Jek’s leading technology will open up more opportunities for people to grow their incomes and improve their welfare.”