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Ride-Hailing Company Go-Jek Raises $100M

Go-Jek motorcycle taxi drivers and passengers travel through traffic in Jakarta, Indonesia, on Saturday, Aug. 4, 2018. Indonesia's gig economy is booming, yet there's a debate about whether that's necessarily a good thing for a big chunk of the nation's workforce or the overall economy in the long-run. Photographer: Dimas Ardian/Bloomberg

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 set up 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.

Image Source: Google

“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.”

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