Go-Jek forms joint venture with Astra International, raises US$100M

More rides for Indonesia.

By

Go-Jek forms joint venture with Astra International, raises US$100M

Go-Jek has formed a joint venture with Astra International, one of Indonesia’s most diversified conglomerates. The companies will operate a fleet of several thousand vehicles, each installed with Astra’s fleet management system. Astra has also invested IDR 1.4 trillion (US$100 million) in Go-Jek, bringing the first phase of the ride-hailing and lifestyle service provider’s Series F fundraising round to a close, and Astra’s stake in the company to US$250 million.

The joint partnership between Go-Jek and Astra will leverage the latter’s position as Southeast Asia’s largest automotive group. Astra International is often regarded as the backbone of the Indonesian economy due to its widespread involvement in many sectors, including automotive, agribusiness, heavy equipment, mining, energy, financial services, information technology, infrastructure and logistics.

For its Series F round, Go-Jek aims to raise US$2 billion from various investment banks

Go-Jek has been aggressively expanding its service coverage in Southeast Asia. Last week, it rolled out full service in Bangkok. The company currently operates in Indonesia, Vietnam, Singapore, and Thailand. It plans to step into Malaysia, Cambodia, and Myanmar later this year.

Editor: Brady Ng