Astra and GOJEK establish a joint venture, Astra invests an additional $100 million

05 March 2019, India:

PT Astra International Tbk and GOJEK announced an agreement to establish a joint venture.  Astra also announced an investment of US$ 100 million in the first closing of GOJEK’s Series F fundraise.

Astra made its first investment in GOJEK through the Series E fundraise in 2018 and this additional investment brings Astra’s total investment in GOJEK to US$ 250 million.

The joint venture will enable more drivers to join the four-wheel ride-hailing sector and participate in Indonesia’s rapidly growing digital economy, the company said in a statement.

Nadiem Makarim, Chief Executive Officer and Founder, GOJEK , said, “Industry players must join forces to maximise the great potential of the Southeast Asian digital economy, especially in Indonesia. The combination of Astra’s strength in the automotive sector and GOJEK’s leading technology will open up more opportunities for people to grow their incomes and improve their welfare.”

The joint venture partnership between Astra and GOJEK will operate a fleet of several thousand cars, pre-installed with Astra’s fleet management system (FMS) and supported by ride-hailing technology in the GOJEK app, specifically for GO-CAR. This company will provide opportunities for partners to provide online door-to-door transportation services with excellent quality to customers while at the same time improving their income through GO-CAR services.

Prijono Sugiarto, President Director of PT Astra International Tbk, said, “The establishment of this joint venture and Astra’s participation in GOJEK’s Series F fundraise demonstrate our continued confidence in GOJEK and is a tangible manifestation of our collaboration to explore the synergies between GOJEK’s technology and Astra’s automotive business. We hope this collaboration can help more people generate income, as this will improve their welfare and have a positive impact on Indonesia’s economic growth. This is in line with Astra’s aim to prosper with the nation.”

GOJEK was launched in January 2015. It is an on-demand multi-service platform technology group.

(Image – Astra)