Astra International dubbed their investment in Go-Jek as the biggest they have ever done in the tech sector

Indonesia-based automotive giant Astra International today confirmed a US$150 million investment into ride-hailing giant Go-Jek.

Together with e-commerce platform Blibli, Astra International has previously been reported to invest IDR3-3.5 trillion (around US$250-290 million) into the company.

According to various media reports, the company announced in a press conference today that the investment in Go-Jek is the biggest they have ever done in the tech sector.

In addition to funding, the investment will also open up the possibilities for partnership with Go-Jek in other sectors, including motorbike or car insurance and financing.

Astra International is the leading auto manufacturer and distributor in Indonesia; it is said to have secured 56 per cent of car market share and 75 per cent of motorbike market share in the country.

Also Read: BeliMobilGue.co.id raises US$3.7M in Pre-Series A round from Intudo Ventures, Go-Jek co-founder

This funding round is the latest that Go-Jek has raised after internet giant Google confirmed an investment into the company in late January.

In addition to Google, Singapore government-owned Temasek Holdings has also been reported to participate in the funding round.

Commenting on the report of an investment in Go-Jek, Blibli investor GDP Venture told Bisnis Indonesia on Thursday, February 8, that the companies are in the middle of a negotiation.

“It is true that we have been offered [the opportunity to invest in Go-Jek], but we have not reached a deal yet. And from our perspective it is indeed an interesting offer, so why not,” said GDP Venture CMO Danny Oei Wirianto.

“It has only been done days ago, so I have no idea where the number US$100-120 million came from. It is certainly is too high,” he added.

Founded in 2012, Go-Jek is currently available in 50 cities in Indonesia and is set to enter the Southeast Asian market this year.

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Image Credit: Go-Jek

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