Astra and Gojek Formed a "Joint Venture" to Extend Investment

Astra enters the first round of Series F funding for Gojek with Rp1.4 trillion

Prayogo Ryza - 5 March 2019

PT Astra International Tbk (Astra) and Gojek, today (3/4) announced a joint venture to develop four-wheeler ride hailing. They also involved in the first round of Gojek's series F funding with $100 million investment or equivalent to Rp1.4 trillion. In total, Astra has poured around 3.5 trillion rupiah for Gojek.

Prijono Sugiarto, President Director of PT Astra International Tbk said, the development of joint venture and Astra's participation in the series F funding has showed their trust to Gojek, also, a realization of partnership exploration to create Astra automotive business synergy.

"We expect this partnership can help public to enter the formal economy sector, therefore, it can increase public welfare and have positive impact to the economic development in Indonesia. It goes along with Astra's dreams to get prosper with the nation," he added.

Gojek's CEO and Founder, Nadiem Makarim mentioned, Southeast Asia's digital economic potential, Indonesia in particular, should be optimized by business players with collaboration of each industry.

"Astra's arms collaboration in the automotive sector with Gojek in the technology field is expected to open up more source of income for people, to be able to improve welfare," he said.

A strategic partnership between Astra and Gojek is planned to optimize Indonesia's potential to be the leading digital economy pioneer in Southeast Asia. As the automotive company holding, Astra is currently working on some digital initiatives in this sector, including Astra Digital.

A joint venture by Astra and Gojek is planned to provide dozens of fleet units with automotive management system that supported by Astra FMS (Fleet Management system) and Gojek's ride hailing technology, particularly Go-Car.

Gojek is currently one of the biggest on-demand companies with 130 million users and 2 million driver partners.

Original article is in Indonesian, translated by Kristin Siagian

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