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Gojek has reportedly invested in a wearable tech company (update)

Written by Khamila Mulia Published on     1 min read

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This would be Gojek’s first investment in a consumer goods company.

Gojek has reportedly invested in an Indonesian wearable tech and apparel company called Zulu, according to Daily Social.

Zulu’s line of products includes Bluetooth motorcycle helmets that give users hands-free access to voice calls and GPS navigation, as well as air-pollution filtering masks that are claimed to be capable of filtering up to 99% of harmful particles. Zulu also sells riding gloves and goggles for urban bikers.

The startup was founded in 2018 by Nathan Roestandy and Yusuf Syaid. Zulu sells its products through e-commerce platform Lazada, and it also supplies helmets to Gojek’s riders. If the rumor turns out to be true, it would be Gojek’s first investment in a consumer goods company in Indonesia. Gojek’s stake could help Zulu and its research and development team to create new products and innovations. Also, Zulu’s innovations would further support Gojek’s two-wheeled driver partners by providing them with safe and sophisticated apparel.

According to its Crunchbase page, Gojek has made seven investments and acquired 11 companies, most of which focus on the business-to-business segment. Most recently, Gojek is said to be acquiring point-of-sale software provider Moka, and the deal is expected to be finalized soon.

Zulu’s co-founder and CTO Yusuf Syaid confirmed the funding to KrASIA, although he didn’t reveal any financial details.

Update January 31st, added the last paragraph to reflect Zulu’s responses to KrASIA’s request for comments.

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