Indonesia-based Telkomsel invests $300 million more in Gojek

Mobile operator Telkomsel is pouring in an additional $300 million in multi-service platform Gojek in efforts to ramp up the multi-service provider’s business.

According to a report by Jakarta Post, the total investment builds on the existing collaboration between Gojek and Telkomsel, with plans of exploring more opportunities in digital services aimed at delivering greater value for businesses, consumers, and partners.

This put Telkomsel’s total investment in Gojek to $450 million, with the first tranche worth $150 million shelled out in November last year.

The agreement also covers growing Indonesia’s digital lifestyle sector, help businesses leverage digital solutions, and further develop the technology talent pool.

In a statement, Telkomsel Chief Executive Officer Setyanto said that the additional investment affirmed the two firms’ vision to respond to real problems in society through digital and technological innovation for the country’s advancement.

“Telkomsel is optimistic that this latest investment will open more opportunities for society to access advanced digital technology-based innovation developed by home-grown companies,” he said.

Telkomsel and Gojek—which has raised over $3.45 billion to date from high-profile investors such as Google, Facebook, PayPal, Visa, and Tencent—said that their strategic partnership will “open up new synergies as the two companies scale up digital services and deliver new, innovative solutions.”

The two companies have maintained a deal since 2018 to subsidize the cost of mobile data consumed by the ride-hailing firm’s driver-partners.

At present, Telkomsel is the largest telecommunications operator in Indonesia with more than 170 million subscribers.

Meanwhile, in addition to ride-hailing, Gojek has expanded to several additional businesses, including digital payments and food delivery in Indonesia.

Image by Niek Verlaan from Pixabay