Indonesia's Gojek bags US$300m more in funding from Singtel Indonesian associate Telkomsel


SINGAPORE, May 10 (The Straits Times/ANN): Telkomsel has invested an additional US$300 million (S$398 million) into ride-hailing start-up Gojek, with plans to strengthen their existing collaboration, reports The Business Times.

The Indonesian network service provider, which is a subsidiary of Telkom Indonesia and Singtel, invested US$150 million in November last year in Gojek.

Both parties said in a joint press statement on Monday (May 10) that the additional investment has the approval and support of Telkomsel's shareholders, including Telkom Indonesia and Singtel group.

Gojek group co-chief executive Andre Soelistyo said the additional investment will strengthen the collaboration between both companies. Together, they hope to accelerate Indonesia's digital transformation.

Telkomsel and Gojek will explore more opportunities to integrate their digital services and continue to work together to grow Indonesia's digital lifestyle sector, they said.

Telkomsel chief executive Setyanto Hantoro said the investment is part of the company's strategy to strengthen its three digital business pillars - digital connectivity, digital platform and digital services.

Since Telkomsel's initial investment, both companies have integrated various aspects of their services like Telkomsel's MyAds with GoBiz.

In addition, they have rolled out affordable data packages for Gojek driver-partners, and also co-marketed gaming services in collaboration with Tencent, to name a few, the joint statement said. - The Straits Times/ANN

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
   

Next In Aseanplus News

China, Asean pledge efforts to safeguard regional peace
Silent pandemic of stunting stalks Filipino children
Indonesia's tax office defends proposed food tax
Emergency relief expedited to help Lao flood victims
Eight new papers, one SOP adopted at Asean Defence Ministers meet
China to send 3 astronauts to space station tomorrow
Comment: G7 summit fails to 'meet the challenges'
Putin rebuffs US claims against China
North Korea's Kim says food situation 'tense' due to pandemic, typhoons
Analysis: G7's push for 15% as global min corporate tax is unjust to developing world

Stories You'll Enjoy


Vouchers