Google and several Chinese investors are not the only investors taking part in Go-Jek’s current funding round, which the startup expected to raise around US$1.5 billion (around IDR20 trillion). Two local companies, e-commerce player Blibli and automotive giant PT Astra International are reportedly participating by investing IDR3-3.5 trillion (around US$250-290 million) in total for this leading on-demand startup. Blibli, backed by GDP Venture, last year had already acquired two OTA startups, Tiket.com and Indonesia Flight. Go-Jek is currently valuated at around US$4 billion (IDR54 trillion).
According to Katadata, Astra International is reportedly investing US$150-170 million, while Blibli is participating with US$100-120 million. The agreement is said to be signed recently. Neither Astra International, Blibli, nor Go-Jek is giving its comment for this matter.
Previously Google has confirmed its participation in Go-Jek’s funding round. Google stated that it’s investing in Go-Jek because of strong management and leadership. It’s part of first step on winning internet economy that’s significantly rolling in Indonesia and Southeast Asia.
Beside Go-Jek, also involved in this funding round are several other prominent investors, including Tencent, JD.com, Temasek, and Meituan-Dianping. In 2017, Go-Jek had acquired three fintech startups and one event management startup to strengthen its position in industry, including to support Go-Pay payment service.
Go-Jek is tightly competing with Grab and Uber in Indonesia and planning to expand to other country in the region by this year.
The article Blibli and Astra International Reportedly Involved in Go-Jek’s Latest Funding Round first appeared in DailySocial.